ZuluTrade Blog

Market awaits the US Nonfarm Payrolls in the afternoon and the elections in France and Greece over the weekend

Market View | Friday, May 4, 2012 4:52 AM GMT

Good Morning ,

- Market traded in tight ranges in Asia. Market awaits the US Nonfarm Payrolls
in the afternoon and the elections in France and Greece over the weekend.

- Stocks: Nikkei +0.31 %, Hang Seng -0.74 %, Shanghai Composite +0.23 %,
Dow Jones -0.47 %, S+P500 -0.77 %

- Federal Reserve Bank of Atlanta President Dennis Lockhart said concern over
inflation exceeding the central bank's 2 percent goal weighs against
consideration of providing additional stimulus to reduce unemployment.

- Federal Reserve Bank of San Francisco President John C. Williams said he
doesn't currently see the need for a new round of bond buying by the U.S.
central bank.

- Federal Reserve Bank of Philadelphia President Charles Plosser forecast U.S.
economic growth of about 3 percent for this year and next, saying he's more
sanguine about the outlook than many other U.S. policy makers.

- The Reserve Bank of Australia cut growth and inflation forecasts as weak job
and housing markets keep price gains in check. "Labor market conditions have
continued to be on the soft side to date, with large increases in employment
in mining and some service industries roughly offset by declines in the
manufacturing, hospitality and retail sectors," the central bank said in its
quarterly monetary policy statement.

- Australia's Treasurer Wayne Swan says nation's high currency weighs heavily
on some sectors of economy:
* Inflation contained, growth around trend

* Budget surplus provides "maximum flexibility" for Reserve Bank of Australia

- China's yuan is at an equilibrium against the dollar and even high in some
respects, the country's main official newspaper said on Friday. At the
present stage, on the basis of value, and balanced supply and demand, the
renminbi exchange rate is basically at a reasonable equilibrium," said the
article, written for the paper by the Chinese Academy of Social Sciences, the
country's top think tank.

- Britain's indebted households are weighing on an economy enduring its longest
peacetime slump for a century, according to the National Institute of
Economic and Social Research. The unprecedented period of "persistent
weakness" stretched into its 50th month in March, the group said in its
latest forecasts published today. Economic output will remain flat this year
and grow by 2 percent in 2013, Niesr said, unchanged from its January

- BOE has also a view on football - missed it yesterday afternoon: Bank of
England Governor Mervyn King said U.K. football authorities should review how
Premier League clubs finance themselves as European and lower-division English
teams adopt new rules to put caps on spending. "They have to think through
how they want to organize the finances of football," King said in an
interview on BBC Radio 4 when asked if the Premier League and Football
Association, England's governing body, should do more to warn of the risks
from debt in the sport.

- 1430 US Change in Nonfarm Payrolls Apr
- 1430 US Unemployment Rate Apr

- 1725 Fed Williams
- 1730 Fed Evans
- 0915 Spain Services PMI Apr
- 0945 Italy Services PMI Apr
- 0950 France Services PMI Apr
- 0955 Germany Services PMI Apr
- 1000 Eurozone Services PMI Apr
- 1000 Eurozone Composite PMI Apr
- 1100 Eurozone Retail Sales Mar
- 1600 Canada IVEY PMI Apr
- 0915 Switzerland Retails Sales Mar
- 1000 Norway Unemployment Rate Feb
- 0930 Sweden Service Production Mar


Have a nice weekend!

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