U.S. Treasuries gain ahead of April employment report, FOMC members’ speeches

The U.S. Treasuries gained Friday, ahead of the country’s employment report for the month of April, scheduled to be released today by 12:30GMT. Also, FOMC members Dudley and Williams are due to deliver their keynote speeches today by 16:00GMT and 19:0GMT respectively.

The yield on the benchmark 10-year Treasuries slipped 1 basis point to 2.93 percent, the super-long 30-year bond yields fell nearly 1-1/2 basis points to 3.10 percent and the yield on the short-term 2-year traded tad lower at 2.48 percent by 11:45GMT.

The week is set to end on a busy note in the US, with the latest labour market figures due for release today. As usual non-farm payrolls will be the centre of attention – in March they surprised on the downside, rising only 103k and growth is expected to have bounced back last month.

The current market consensus predicts a 192k rise, which would be close to its average over the last twelve months (188k). Of course, other major indicators will be worth watching too. The unemployment rate is expected to inch lower, from 4.1 percent to 4.0 percent, while average hourly earnings growth on the annual basis should remain unchanged at 2.7 percent y/y. 

Meanwhile, the S&P 500 Futures slipped 0.24 percent to 2,625.50 by 11:50GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 0.65 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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