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08.05.2012 05:26 PM
Fundamental Analysis, for May 08, 2012

 

The data oт U.S. employment released on Friday showed mixed results: 115 new jobs created in April considered as the negative part of the report but compensated with favorable revision of March figure restricted to 154,000 payrolls.

The unemployment rate has dropped again to 8.1% remaining in downtrend that has been extended several months ago.

The data, however, was affected by markets that rocked the main actions of Wall Street and dragged the dollar higher on all fronts. The euro, for instance, reached 1.3087 by the end of the day, while the Australian dollar fell to its 4 months low. The Canadian dollar and Mexican peso fell very strong led by oil.

Other currencies were affected as well, particularly the euro and the Swiss franc. The latter moved like the first one which remained remarkably high even though the recent data on situation in Europe were not encouraging.

The opening of the Asian session on Monday left a lot of gaps in majors which have not yet been covered in some cases. This shows that the climate of investors’ pessimism has recently deepened affecting the European markets and the closure of Asian markets.
Also the Australian dollar staged a sharp fall in the last hours, also accompanied the fall of an ounce of gold traded at level of 1611 dollars. Tuesday is expected to low-impact data.

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