The U.S.
dollar traded higher against the most major currencies after the mixed U.S.
jobs market data. The unemployment rate in the U.S. remained unchanged at 6.3%
in May. Analysts had expected an increase to 6.4%.
The U.S.
economy added 217,000 in May, missing expectations for a 218,000 rise, after a
282,000 gain in April. April’s figure was revised down from a 288,000 increase.
These
figures seem to be another sign that the U.S. economy gaining the kind of
sustained momentum.
The euro
traded lower against the U.S. dollar. Market participants seemed to be
unimpressed by the stimulus measures by the European Central Bank.
German
economic data was released. Germany's trade surplus climbed to €17.7 billion in
April from €15.0 billion in March. March’s figure was revised up from a surplus
of €14.8 billion. Analysts had expected Germany’s trade surplus to increase to
€15.2 billion.
German
industrial production rose 0.2% in April, missing expectations for a 0.4% gain,
after a 0.5% decline in March. On a yearly basis, the industrial production in
Germany increased 1.8% in April, after a 3.0% rise in March.
Germany’s
current account surplus declined to €18.4 billion in April from €19.5 billion
in March.
The British
pound traded lower against the U.S. dollar. The U.K. trade deficit rose to
£8.92 billion in April, from £8.29 billion in March. March’s figure was revised
up from a deficit of £8.48 billion. Analysts had expected the U.K. trade
deficit to increase to £8.65 billion.
The U.K.
consumer inflation expectations declined to 2.6% from 2.8%.
The Swiss
franc traded lower against the U.S. dollar. Switzerland’s consumer price index
climbed 0.3% in May, exceeding expectations for a 0.2% gain, after a 0.1% rise
in April.
The
Canadian dollar declined against the U.S. dollar due to the higher unemployment
rate in Canada. Canada's unemployment rate climbed to 7.0% in May, from 6.9% in
April. Analysts had expected the unemployment rate to remain unchanged.
The
Canadian economy added 25,800 in May, exceeding expectations for a 25,000 gain,
after a 28,900 decline in April. Most of the gains were in part-time work. The
job growth in the private sector was flat.
The New
Zealand dollar traded mixed against the U.S dollar in the absence of any major reports
in New Zealand.
The
Australian dollar traded mixed against the U.S. dollar. The AI Group/HIA
construction index for Australia increased to 46.7 in May from 45.9 in April.
The index still remained in contractionary territory due to the weakness in engineering
and commercial construction. Figures above 50 indicate expansion while figures
below signal contraction.
The
Japanese yen declined against the U.S. dollar after the U.S. labour market data.
Japan’s leading economic index declined to 106.6 in April from 107.1 in March,
but exceeding expectations for a decline to 106.2.
Japan’s
coincident index slid to 111.1 in April from 114.5 in March.