America’s Roundup: Dollar dips against euro as jobs gains offset by negative revisions, Wall Street ends higher,Gold slides, Oil prices jump but post third straight weekly fall on economic woes

Market Roundup

•U.S. employers add 253,000 jobs in April

•U.S Indexes: Dow up 1.7%, S&P 500 up 1.9%, Nasdaq up 2.3%

•Canada adds 41,400 jobs in April

•US Apr Private Nonfarm Payrolls 230K, 160K forecast, 189K previous

•US Apr Participation Rate 62.6%,65.6% forecast, 65.6% previous

• Canada Apr Unemployment Rate 5.0%,5.1% forecast,5.0% previous

• Canada Apr Part Time Employment Change 47.6K,15.9K previous

• Canada Apr Full Employment Change -6.2K,18.8K previous

• Canada Apr Employment Change 41.4K,20.0K forecast, 34.7K previous

• US Apr U6 Unemployment Rate 6.6%,6.7% forecast, 6.7% previous

• US Apr Participation Rate 62.6%,62.5% forecast,62.6% previous

• US Apr Unemployment Rate 3.4%,3.6% forecast,3.5% previous

• US Apr Average Weekly Hours 34.4, 34.4 forecast,34.4 previous

• US Apr Government Payrolls 23.0K, -8.0K forecast,47.0K previous

• US Apr Manufacturing Payrolls 11K,-5K forecast,-1K previous

• US Apr Nonfarm Payrolls 230K,180K forecast,236K previous

• US Apr Average Hourly Earnings (MoM) 0.5%, 0.3% forecast,0.3% previous

• U.S. Baker Hughes Oil Rig Count 588, 591 previous

• U.S. Baker Hughes Total Rig Count 748, 755 previous

Looking Ahead Economic Data(GMT)

•No data Ahead

Looking Ahead Events And Other Releases (GMT)

•No significant events

Currency Summaries

EUR/USD: The euro initially dipped against dollar on Friday but recovered ground after jobs gains and wage growth for April beat economists’ forecasts but showed downward jobs revisions for March.Employers added 253,000 jobs, beating economists' forecasts for a 180,000 gain. U.S. average hourly earnings rose at an annual rate of 4.4%, above expectations for a 4.2% increase.But data for March was also revised lower to show 165,000 jobs added instead of 236,000 as previously reported. The euro fell to $1.0967, before bouncing back to $1.1026, up 0.11%. Immediate resistance can be seen at 1.1078(23.6%fib), an upside break can trigger rise towards 1.1113(Higher BB).On the downside, immediate support is seen at 1.1024 (5DMA), a break below could take the pair towards 1.0992(38.2%fib).

GBP/USD: The pound rose to just shy of a one-year high against the dollar on Friday as traders eyed the Bank of England’s interest rate decision next week. The pound has received a boost from the U.S. Federal Reserve meeting this week, analysts said, when the central bank raised rates by 25 basis points but signalled that it may stop there. U.S. employment data, out at 1230 GMT on Friday, will provide clues as to the Fed’s likely next move. Sterling was up 0.21% at $1.2630 on Friday, the highest since late May last year. Immediate resistance can be seen at 1.2637 (23.6%fib), an upside break can trigger rise towards 1.2664(Higher BB).On the downside, immediate support is seen at 1.2564(Daily low), a break below could take the pair towards 1.2532(38.2%fib).

USD/CAD: The Canadian dollar strengthened to a two-week high against its U.S. counterpart on Friday, as investors dialed back bets for interest rate cuts by the Bank of Canada in the coming months following stronger-than-expected domestic jobs data. The Canadian economy gained 41,400 jobs in April, exceeding expectations for an increase of 20,000, while the jobless rate stayed near a record low. The price of oil settled 4.1% higher at $71.34 a barrel, clawing back some recent declines. The loonie was trading 1.2% higher at 1.3372 to the greenback, its biggest gain since Jan. 4 and its strongest level since April 18.Immediate resistance can be seen at 1.3374 (April 17th high), an upside break can trigger rise towards 1.3460(38.2%fib).On the downside, immediate support is seen at 1.3370 (23.6% fib), a break below could take the pair towards 1.3325(Lower BB).

USD/JPY: The dollar strengthened against Japan's yen on Friday as investors digested U.S. jobs data . U.S. job growth accelerated in April while wage gains increased solidly, pointing to persistent labor market strength that could compel the Federal Reserve to keep interest rates higher for longer as it fights to bring inflation under control. Nonfarm payrolls rose by 253,000 jobs last month, but the economy created 149,000 fewer jobs in February and March than previously reported. Job growth has averaged 290,000 jobs per month over the prior six months. Economists polled had forecast payrolls would rise by 180,000. Strong resistance can be seen at 135.12(23.6%fib ), an upside break can trigger rise towards 135.55(5DMA).On the downside, immediate support is seen at 134.05 (38.2%fib), a break below could take the pair towards 132.19(50%fib)

Equities Recap

European shares ended Friday on solid ground aided by a boost in shares of HSBC and from energy firms that tracked a rebound in oil prices, but wrapped a week packed with high-profile central bank meetings and heavy earnings with a decline.

UK's benchmark FTSE 100 closed up by 0.98 percent, Germany's Dax ended down by 1.44 percent, France’s CAC finished the day up by 1.26 percent.

U.S. stocks rallied on Friday, with the Dow posting its biggest one-day percentage gain since Jan. 6, as shares of Apple surged more than 4% after upbeat results and U.S. jobs data pointed to a resilient labor market.

Dow Jones closed up by 1.65% percent, S&P 500 closed up by 1.85 % percent, Nasdaq settled up by 2.25% percent.

Treasuries Recap

U.S. Treasury yields finished Friday higher in a reversal from their downward trend most of the week, after the release of labor data showed April employment and wage figures had outpaced market expectations.

The yield on two-year notes jumped 19.7 basis points (bps) to 3.924%, while the yield on 10-year notes rose 9.6 bps to 3.448%. The 30-year bond's yield was up 4.1 bps at 3.763%.

Commodities Recap

Gold beat a fast retreat on Friday after stronger-than-expected U.S. payrolls data tempered expectations of interest rate cuts from the Federal Reserve.

Spot gold lost 1.7% to $2,015.33 per ounce by 1:40 p.m. EDT (1740 GMT), but was up 1.3% for the week after surging to $2,072.19 on Thursday, just shy of its record high of $2,072.49

Oil prices rose on Friday but fell for the third straight week after a sharp fall earlier this week ahead of benchmark interest rate rises and on concern that the U.S. banking crisis will slow the economy and sap fuel demand.

Brent crude closed $2.80, or 3.9% higher, at $75.30 a barrel. U.S. West Texas Intermediate settled up $2.78, or 4.1%, at $71.34 after four days of declines that sent the contract to lows last seen in late 2021.