Last week was a profitable one for riskier assets such as the S&P500, Dow Jones Industrial Average (DJIA) and the loonie, which ended the period up 1.39%, 1.78% and 0.71% respectively; spurred on by positive jobs figures that exceeded the low expectations. On Friday, we learned that 165k jobs were created in April in the U.S., well above the expected 140k. On average, the U.S. economy created 208k per month between November and April, whereas the monthly average for the previous six months was 138k. Shortly after the news was announced, the DJIA even momentarily surpassed the 15,000 level… a record high.
Markets were calm overnight, as England enjoyed a bank holiday on Monday. Futures are pointing to an opening at roughly the same level as Friday's closing.
Monday should be relatively stable, with the Ivey Purchasing Managers' Index and Building Permits figures to be released in Canada. The Reserve Bank of Australia will announce its key rate decision on Monday night, which economists believe will be to hold steady at 3%. Gardy Pharel
Range of the day: 1.0050-1.0115
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NBC Daily Forex : May 06, 2013
Published 05/07/2013, 07:10 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : May 06, 2013
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