ForexMetals

EUR/USD fell by the largest extent since April 27 today as the U.S. macroeconomic indicators failed to maintain the bullish interest in the high-yielding currencies. The oil inventories rose also pressing on the oil prices and thus on the commodity currencies. EUR/USD is now trading near 1.4122.

ADP employment report showed a decline by 532k jobs in May, following a decrease by 545k in April (revised down from 491k drop). Estimates by the analysts were near -525k.

Factory orders increased by 0.7% in April after falling by 1.9% in March (revised down from 0.9% drop). Average forecast was at 0.9% gain.

ISM services index rose from 43.7% to 44% in May — this value disappointed the market participants as they expected a growth to 45%.

Crude oil inventories increased by 2.9 million barrels last week in U.S. They are above the upper limit of the average range for this time of year.

Yesterday, the U.S. pending home sales report has showed a third month of gain as they added 6.7% in April compared to the previous month. This followed 3.2% growth in March and was above the 0.5% gain value of the forecast.

EUR/USD fell by the largest extent since April 27 today as the U.S. macroeconomic indicators failed to maintain the bullish interest in the high-yielding currencies. The oil inventories rose also pressing on the oil prices and thus on the commodity currencies. EUR/USD is now trading near 1.4122.

ADP employment report showed a decline by 532k jobs in May, following a decrease by 545k in April (revised down from 491k drop). Estimates by the analysts were near -525k.

Factory orders increased by 0.7% in April after falling by 1.9% in March (revised down from 0.9% drop). Average forecast was at 0.9% gain.

ISM services index rose from 43.7% to 44% in May — this value disappointed the market participants as they expected a growth to 45%.

Crude oil inventories increased by 2.9 million barrels last week in U.S. They are above the upper limit of the average range for this time of year.

Yesterday, the U.S. pending home sales report has showed a third month of gain as they added 6.7% in April compared to the previous month. This followed 3.2% growth in March and was above the 0.5% gain value of the forecast.

EUR/USD continued to fall today as the ECB kept interest rate unchanged and the U.S. productivity in the first quarter of 2009 rose faster than expected. The currency pair is now trading near 1.4121.

Initial jobless claims were at 621k last week, down from 625k reported for a previous week, almost the same as the traders have expected (620k).

Nonfarm productivity in the business sector rose by 1.6% in the first quarter of 2009. The growth was revised from 0.8%. Market participants expected an increase by 1.2%.

EUR/USD declined today as the unexpected data on the May employment market situation surprised and confused the Forex traders. After growing during the early trading session, EUR/USD is now trading at its June’s low near 1.3965.

Nonfarm payrolls decreased by 345k in May after sliding by 504k in April (revised positively from -539k change). That was a complete surprise to the market participants as it was almost twice as low as the average decline during the past 6 months. The forecasts also showed 520k decrease of the payrolls. Meanwhile, the unemployment rate rose unexpectedly fast — from 8.9% to 9.4%, and appeared to be above the forecast value of 9.2%.

Consumer credit declined by $15.7 billion in April, following a drop by $16.5 billion in March (revised negatively from $11.1 billion drop). Forecasts showed a prediction of $6 billion decline.