Data released:
07:55 GMT Germany Markit Manufacturing PMI (Apr) 54.1 54.2 53.7
08:00 GMT EMU Markit Manufacturing PMI (Apr) 53.4 53.3 53.0
08:30 GMT UK PMI Construction (Apr) 60.8 62.0 62.5
09:00 GMT EMU Unemployment Rate (Mar) 11.8% 11.9% 11.8%
The dollar climbed against the yen for a second day before U.S. data that analysts said will show jobs growth picked up in the world’s largest economy.
The U.S. Labor Department will say payrolls increased by 218,000 in April, up from a gain of 192,000 the previous month, according to a survey of economists.
EURO
Euro remains above session lows.
The Eurozone unemployment rate remained at 11.8% in March from the February result, revised down from 11.9%. Analysts expected +11.9%.
EUR/USD corrected from $1.3880 (yesterday’s highs and Apr.28 high). On the upside, the initial resistance remains near $1.3905 (high Apr.11) and $1.3925 (high Mar.19). The closest support comes at $1.3790/85. Below losses may widen to $1.3760 (61.8% of the $1.3670 - $1.3900 rally).
POUND
The pound fell to fresh daily lows immediately after the release of the UK construction PMI, which fell to a 6-month low in April.
UK construction PMI fell to 60.8 versus 62.0 expected, marking its lowest level since October.
GBP/USD recoveres from session lows on $1.6780 with resistance comes at yesterday’s high on $1.6920. Further resistance comes at $1.7040 (Aug 2’2009 high). Below $1.6780 support comes at $1.6700 and around last Tuesday’s lows on $1.6660 with a break under widens losses to $1.6660 (trend support line from Nov 12’2013).
YEN
Yen weakens ahead of US data.
USD/JPY rose to Y102.50 and retreated a bit. Initial resisatance is around Y102.75. Further resistance comes at Y103.40 and around Y104.00. Stronger one remains at Y104.30/80. Below Y102.00 support comes at Y101.30 (Apr 10 lows) and Y100.70 (Feb 7 lows).
DATA AHEAD
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