Posted at 02 May 2025 / Categories Market Roundups
Market Roundup
• US Average Hourly Earnings (YoY) (Apr): 3.8%, 3.9% forecast, 3.8% previous
• US Average Hourly Earnings (MoM) (Apr): 0.2%, 0.3% forecast, 0.3% previous
• US Average Weekly Hours (Apr): 34.3, 34.2 forecast, 34.3 previous
• US Government Payrolls (Apr): 10K, 15K previous
• US Manufacturing Payrolls (Apr): -1K, -5K forecast, 3K previous
• US Nonfarm Payrolls (Apr): 177K, 138K forecast, 185K previous
• US Participation Rate (Apr): 62.6%, 62.5% previous
• US Private Nonfarm Payrolls (Apr): 167K, 124K forecast, 170K previous
• US U6 Unemployment Rate (Apr): 7.8%, 7.9% previous
• US Unemployment Rate (Apr): 4.2%, 4.2% forecast, 4.2% previous
•US Durables Excluding Defense (MoM) (Mar): 10.5%, 10.4% previous
•US Durables Excluding Transport (MoM) (Mar): 0.0%, 0.0% previous
•US Factory Orders (MoM) (Mar): 4.3%, 4.4% forecast, 0.5% previous
•US Factory Orders Ex Transportation (MoM) (Mar): -0.2%, 0.3% previous
•US Baker Hughes Oil Rig Count: 479, 485 forecast, 483 previous
•US Baker Hughes Total Rig Count: 584, 587 previous
Looking Ahead economic Data(GMT)
•No Data Ahead
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Summaries
EUR/USD: The euro initially gained but gave up ground on Friday as greenback trimmed some losses after data showed U.S. job growth slowed marginally in April and the unemployment rate held steady at 4.2%, assuaging fears that the world's biggest economy was nearing a recession after the GDP shrank in the first quarter. Nonfarm payrolls increased by 177,000 jobs last month after rising by a downwardly revised 185,000 in March, the Labor Department's Bureau of Labor Statistics said. Economists polled by had forecast 130,000 jobs added after a previously reported 228,000 advance in March. Post-jobs data, the U.S. rate futures market slashed bets that the Fed will cut rates as soon as June, giving it a 35.6% probability. That was down from about 58% late on Thursday. Immediate resistance can be seen at 1.1405 (April 28th high), an upside break can trigger rise towards 1.1530 (23.6%fib).On the downside, immediate support is seen at 1.1266 (38.2%fib), a break below could take the pair towards 1.1198 (April 11th low).
GBP/USD: The British pound dipped on Friday as stronger-than-expected U.S. jobs data contributed to increased investor confidence that a recession can be avoided.The U.S. economy added 177,000 jobs in April, exceeding expectations, while the unemployment rate held steady at 4.2%. The data helped to assuage concerns of a economic slowdown following a Commerce Department report, showing a contraction in U.S. gross domestic product for the first time in three years, weighed down by a tariff-induced flood of imports. The stronger-than-expected job growth suggests continued resilience in the labor market despite broader concerns about economic momentum, and may influence expectations around future Federal Reserve policy decisions. Immediate resistance can be seen at 1.3343(April 24th high), an upside break can trigger rise towards 1.3449(23.6%fib).On the downside, immediate support is seen at 1.3258(38.2%fib), a break below could take the pair towards 1.3161 (April 15th low).
USD/CAD: The Canadian dollar surged to a near seven-month high against the U.S. dollar on Friday, fueled by improving global trade sentiment ahead of next week’s meeting between Canadian Prime Minister Mark Carney and U.S. President Donald Trump. Carney stated that he would be in Washington on Tuesday for what he anticipates will be 'difficult but constructive' discussions with Trump. Canada exports roughly 75% of its goods to the U.S., including steel, aluminum, and automobiles, which have been heavily impacted by U.S. tariffs. Meanwhile, oil prices one of Canada’s key exports—dropped by 1.6%, settling at $58.29 a barrel, as traders adopted a cautious stance ahead of an OPEC+ meeting that will determine the group’s output strategy for June. The loonie was trading 0.4% higher at 1.38 per U.S. dollar after touching its strongest intraday level since October 17 at 1.3761. Immediate resistance can be seen at 1.4344 (SMA 14), an upside break can trigger rise towards 1.3920 (38.2%fib).On the downside, immediate support is seen at 1.3761(50%fib), a break below could take the pair towards 1.3728 (Oct 11th 2024 low )
USD/JPY: The dollar initially dipped but recovered ground on Friday as better than expected April US jobs data eased some jitters about the U.S. economy. The U.S. economy added 177,000 jobs in April, surpassing forecasts and providing a reassuring signal about the labor market’s strength. The unemployment rate remained unchanged at 4.2%, reinforcing a picture of stability despite broader economic concerns. This robust jobs report helped ease fears of a looming slowdown that were sparked by a recent Commerce Department release showing a contraction in U.S. gross domestic product (GDP) for the first time in three years. The strong jobs report reinforced expectations that the Federal Reserve will keep interest rates unchanged in the near term, with potential rate cuts likely postponed until the summer. Immediate resistance can be seen at 145.90 (50%fib) an upside break can trigger rise towards 146.00 (Psychological level) .On the downside, immediate support is seen at 143. 57 (38.2%fib) a break below could take the pair towards 142. 85(Lower BB).
Equities Recap
European shares surged on Friday, wrapping up a week of earnings reports across the continent, as signs of a potential easing of U.S.-China trade tensions and a stable jobs report in the United States boosted investor confidence and risk appetite.
UK's benchmark FTSE 100 closed up by 1.17 percent, Germany's Dax ended up by 2.62 percent, France’s CAC finished the day up by 2.33 percent.
Wall Street stocks rose on Friday, marking a second consecutive week of gains, driven by robust economic data and the prospect of easing trade tensions between the U.S. and China.
Dow Jones closed up by 1.39%percent, S&P 500 closed up by 1.47% percent, Nasdaq settled up by 1.51% percent.
Commodities Recap
Gold dipped on Friday, heading for a second straight weekly loss, as easing trade tensions between the U.S. and China, coupled with a strong jobs report, kept prices under pressure.
Spot gold was down 0.4% at $3,228.50 an ounce as of 1:41 p.m. ET (1741 GMT). Prices were down 2.6% weekly, after hitting a record $3,500.05 on April 22. It hit its lowest since April 14 on Thursday.
Oil prices fell more than 1% on Friday, marking their biggest weekly losses since March, as traders adopted a cautious stance ahead of an OPEC+ meeting to determine the group’s output strategy for June.
U.S. West Texas Intermediate crude futures settled 95 cents, or 1.6%, to settle at $58.29 a barrel. Brent crude futures closed down 84 cents, or 1.4%, at $61.29 a barrel.