European morning wrap: Waiting for Godot (The sequel)

Spain April jobless rate falls -0.14%, by 6,632 to 4.74 mln total. First fall in unemployment for 8 months (hooray) Spain April services PMI 42.1, down from 46.3 in March and well below median forecast of 45.1. 10th consecutive month of contraction (boo) Italy April services PMI 42.3, down from 44.3 in March and well below median forecast of 44.0. 11th consecutive month of contraction. Lowest read since June 2009 Eurozone April final services PMI 46.9, down from 49.2 in March and worse than flash estimate of 47.9 Eurozone March retail sales +0.3% m/m, -0.2% y/y,  stronger than median forecasts flat, -1.1% respectively UK Halifax house price index -2.4% m/m in April, demonstrably weaker than Reuter's median forecast of -0.5% Should the French know better than to elect Francois Hollande - 21 French economists say they should Will France's election hinder German leadership of the euro group? -Der Spiegel Yesterday we sat around waiting for the ECB rate decision and Draghi press conference, today we've been sitting around waiting for the US non-farm payrolls data. Just toooo much waiting for my liking.... EUR/USD down marginally at 1.3130 from early 1.3145, having been as low as 1.3127. Talk of buy orders clustered 1.3120/25 (which includes 100 day SMA at 1.3121) Some sell stops seen through 1.3120. USD/JPY effectively unchanged at 80.20.  Buy orders clustered 80.00/10, sell stops through 79.90 before Kampo bids 79.50/60.  Sell orders clustered up at 80.40/50.   Cable effectively unchanged at 1.6180. KInda sums it up.  When you have no change in cable on a Friday you know its been quiet.