EURO Unfazed by US CPI and ECB Steadiness | BK Asset Management bkassetmanagement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bkassetmanagement.com Daily Mail and Mail on Sunday newspapers.
Daily FX Market Roundup 06.03.2021
By Kathy Lien, Managing Director of FX Strategy for BK Asset Management
The U.S. dollar traded sharply higher against all of the major currencies on Thursday with USD/JPY closing above 110 for the first time since April which is a sign that investors are positioning for a strong report. Last month’s jobs number was abysmal with U.S. companies adding only 266K new workers. Economists are looking for job growth to more than double in May but the problem is that other U.S. indicators favor a softer report.
Although weekly jobless claims fell below 400K for the first time since the pandemic began and ADP reported a very strong increase in private payrolls, continuing claims ticked up and the acceleration in service sector activity was not accompanied by stronger job growth. Instead, the employment component of non-manufacturing ISM dropped to 55.3 from 58.8. Challenger reported more layoffs while consumer confidence declined according to both t
French Services PMI (May) Prelim
German Manufacturing PMI (May) Prelim
German Services PMI (May) Prelim
Eurozone Manufacturing PMI (May) Prelim
Eurozone Markit Composite PMI (May) Prelim
Eurozone Services PMI (May) Prelim
Advertisement
The Majors
It was a bullish end to the week for the European majors on Friday, with the DAX30 and CAC40 managing to reverse losses from earlier in the week.
The CAC40 and the DAX30 rose by 1.54% and by 1.43% respectively, with the EuroStoxx600 ending the day up by 1.19%.
There were no major stats from the Eurozone to provide the majors with direction at the end of the week.