Intraday Market Thoughts
Ahead of CAD Jobs Report
by
May 10, 2013 13:13
JPY accelerates weakness as BoJ's Kuroda reiterates that Japan is not targeting FX but only conducting monetary policy. Rather than chasing any JPY cross in sight, we issued 2 tactical Premium trades in CADJPY ahead of the Canada jobs report as a partial hedge to our existing USDCAD trades and a play on JPY weakness regardless of any downside surprise in the jobs report. CAD jobs figures due at 8:30 ET (13:30 London) expected at +15K from prev -54.5K with the unemployment rate expected unchanged at 7.2%. Full trades are in the latest Premium Insights under the CADJPY section
| Act | Exp | Prev | GMT |
|---|---|---|---|
| Net Change in Employment (APR) | |||
| 15.0K | -54.5 | May 10 12:30 | |
| Unemployment Rate (APR) | |||
| 7.2% | 7.2% | May 10 12:30 | |
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