by JustForex
On Monday, most Asian stocks have increased in line with S&P 500 futures amid an unexpectedly positive US employment report. Bonds are recovering from last week’s losses on the credit market, while the dollar is showing an upward trend.
US businesses created 916,000 jobs in March, beating economists’ forecast of 660,000. March figures were even higher than some economists’ highest expectations of 800,000. The unemployment rate fell to 6%, in line with the forecast, while the share of the economically active population rose to 61.5%. And while unemployment figures are still close to the great depression of the 1970s, Fed Chairman Jerome Powell described them as “very encouraging.”
Most of Asia’s regional stock indices have risen. The Indian stock market became an exception, where stocks fell the most in just five weeks as more than 100,000 new cases of Covid-19 were recorded in the last 24 hours. Many financial centers were closed for the holidays, including China and Hong Kong, as well as the major part of Europe. S&P 500 futures have been rising since Friday.
Treasury yields also continue to rise amid expectations for global economic growth following the US recovery. Treasury yield stabilized at 1.72%. US 2-year bonds yield rose unexpectedly to 0.18%. These securities haven’t responded to the strong reports for a long time and now talks on the Fed earlier rate hike may return.
Oil remains under pressure after OPEC+ leaders decided to increase production, and the increase in the number of infected in India and Europe increases risks to energy demand. Commodity currencies came under pressure following oil prices, while the dollar index rose.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Main market quotes:
S&P 500 (F) 4,024.12 +14.12 (+0.35%)
Dow Jones 33,153.21 +171.66 (+0.52%)
DAX 15,107.17 +98.83 (+0.66%)
FTSE 100 6,737.30 +23.67 (+0.35%)
USD Index 93.097 +0.046 (+0.05%)
- – US ISM Non-Manufacturing PMI (Mar) at 17:00 (GMT+3).
by JustForex
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
- COT Bonds Charts: Speculator Weekly Changes led by 5-Year & 10-Year Bonds Apr 28, 2024
- COT Stock Market Charts: Speculator Bets led by VIX & Russell-Mini Apr 28, 2024
- COT Soft Commodities Charts: Speculator Bets led by Corn & Soybean Meal Apr 28, 2024
- Today, investors’ focus is on the PCE Price Index inflation report Apr 26, 2024
- Gold price recovers amid uncertain US economic outlook Apr 26, 2024
- This “Bullish Buzz” Reaches Highest Level in 53 Years Apr 26, 2024
- FastSpring and EBANX Forge Partnership to Expand Pix Payments for Digital Products in Brazil Apr 25, 2024
- Target Thursdays: NAS100, Robusta Coffee, USDCHF Apr 25, 2024
- QCOM wants to create competition in the AI chip market. Hong Kong index hits five-month high Apr 25, 2024
- Japanese yen hits all-time low as BoJ meeting commences Apr 25, 2024