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US & Canada Jobs Give Fake Gold Rally

by Ashraf Laidi
Apr 5, 2013 17:14

The lowest NFP figure since June (88K vs exp 150K) did not stop USDJPY from gaining another 90 pips as the unemployment rate dropped to 7.6%--lowest since December 2008. But the shockingly bad news from Canada; -54.5K -- biggest fall since Feb 2009; and the unemployment rate to 7.2% from 7.0% have damaged CAD to the benefit of gold. The implications for the next BoC meeting are significant. We issued 2 new trades on USDCAD, GBPJPY and gold (6 in total). See all these trades in the latest Premium Insights.

Act Exp Prev GMT
Nonfarm Payrolls
88K 200K 268K Apr 05 12:30
Private Nonfarm Payrolls
95K 209K 254K Apr 05 12:30
Unemployment Rate
7.6% 7.7% 7.7% Apr 05 12:30
Employment Change
-54.5K 9.0K 50.7K Apr 05 12:30
Unemployment Rate
7.2% 7.0% 7.0% Apr 05 12:30
 
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