Free Trial

USD and the Yen lead in FX


No Relief For Tech Stocks


3/7/25-year BTPs


10/25-year IGBs


3/7/25-year BTPs

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
FOREX: Historic jobs report proves positive for risk
- April's Nonfarm Payrolls report was ground-breaking in several ways - the
change in payrolls headline showed the US lost over 20mln jobs over the month,
with total employment and labor force participation cratering as the lockdown
effect rippled through the US. Countering this, average hourly earnings surged
sharply as the job losses were disproportionately suffered by the lower-paid.
Markets took a generally risk-on tone post-release, pressuring JPY to the bottom
of the G10 pile. USD also traded poorly, favouring AUD and NZD.
- Mimicking the price action seen on Thursday, short-end US yields folded lower
to hit new alltime lows of 0.1032%, sapping the greenback and helping the likes
of EUR/USD and GBP/USD close broadly flat on the week. UK and French public
holidays did little to prop up volumes and liquidity, prompting some outsized
moves in currency markets.
- In the coming week, RBNZ and Banxico rate decisions are due as well as
numerous speakers from BoE, ECB and Fed. Further easing of COVID-19 lockdown
restrictions are expected across Europe, the US and UK.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.