Daily Market Color 07/05/2013

Daily Market Color

07/05/2013

Economic Reports & Headlines

France trade deficit came in larger than expected for May, 6 billion euros Vs 4.7 billion euros.

Consumer prices in the ever so secretive country of Switzerland were flat for the month and the year. Monthly: 10bps, Yearly: (-10bps).

Moving over to Germany, manufacturers’ orders in Europe’s economic powerhouse for May disappointed. On a month over month basis, the orders declined -1.3%. On a year over year basis, orders fell 2.0%.

On the domestic front, we have the big number that market participants clamor over each and every month, Non-farm Payrolls. The number was better than expected. In June the economy added 195k Vs consensus of 161k. The jobless rate ticked up ten basis points to 7.6%.

The labor market survey in Canada, which is Canada’s version of the jobs report, beat analysts’ expectations by a wide margin. Consensus was calling for 8,000 jobs to be lost during the month of June; however, the figure came in at -400. The jobless rate was unchanged at 7.1%.