Open trading account 
Euro/US dollar is still above the 1.0950 level on Friday 11 GMT. Resistance is seen at 1.1019/56 reinforced by the weekly R2, the monthly R1 and the Bollinger band.
Sterling pound/US dollar is preserving the ascending channel so far. The UK economy scored a hat-trick of good news this week with three PMIs above expectations. The construction PMI surged to 53.1 from 52.2; the manufacturing PMI rose to 57.3 from 54.2; and services PMI rose to 55.8 from 55.0.
US dollar/Japanese yen erased the gains accomplished yesterday. The exchange rate dipped till the 112.10 level and after reaching it, started rising once again, holding for NFP data ahead in the session.
US job growth likely rebounded in April and wages increased. Some interesting remarks were made by Marc Chandler on his blog:
Following US labor market data, attentions will be driven to French elections’ second round on Sunday, May the 7th. Macron is expected to win. Particularly after outperforming Le Pen in the latest television debate.
There Macron said (stated on Bloomberg's article):
And Le Pen finished (stated on Bloomberg's article):
Sterling pound/US dollar is preserving the ascending channel so far. The UK economy scored a hat-trick of good news this week with three PMIs above expectations. The construction PMI surged to 53.1 from 52.2; the manufacturing PMI rose to 57.3 from 54.2; and services PMI rose to 55.8 from 55.0.
US dollar/Japanese yen erased the gains accomplished yesterday. The exchange rate dipped till the 112.10 level and after reaching it, started rising once again, holding for NFP data ahead in the session.
US job growth likely rebounded in April and wages increased. Some interesting remarks were made by Marc Chandler on his blog:
Business wants to keep their wage bill down as they want to minimize the cost of inputs and labor is understood as another input.
(...)
Weak wage growth means that it may be economical to hire people to perform low productivity activity.
(...)
We know how to boost employment and productivity.
(...)
The main hurdle is not a foreign country, like China or Mexico. It is not about immigrants vs. "native" workers. A major obstacle arises from the success businesses have enjoyed in keeping labor costs low and the ideological barriers that insist on the link between work in the market economy and consumption.
(...)
Weak wage growth means that it may be economical to hire people to perform low productivity activity.
(...)
We know how to boost employment and productivity.
(...)
The main hurdle is not a foreign country, like China or Mexico. It is not about immigrants vs. "native" workers. A major obstacle arises from the success businesses have enjoyed in keeping labor costs low and the ideological barriers that insist on the link between work in the market economy and consumption.
Following US labor market data, attentions will be driven to French elections’ second round on Sunday, May the 7th. Macron is expected to win. Particularly after outperforming Le Pen in the latest television debate.
There Macron said (stated on Bloomberg's article):
Your words show that you are not worthy to be the defender of our institutions.
And Le Pen finished (stated on Bloomberg's article):
France will be run by a woman whatever happens (...) Either by me or by Mrs. Merkel.
