Monday, 10 March 2014
U.S. Treasuries yields rose to their highest levels in six weeks on Friday after jobs gains were stronger than expected in February, which could ease fears of an abrupt slowdown in economic growth and keep the Federal Reserve on track to reduce its monetary stimulus.
The yen rose across the board early on Monday as investors gave riskier currencies, such as the Australian dollar, a wide berth after China data fuelled worries about a slowdown in the world's second-biggest economy.
U.S. oil rose more than $1 a barrel on Friday as Western relations with Russia worsened over the crisis in the Ukraine and U.S. job growth accelerated by more than expected in an upbeat sign for oil demand.
Oil pulled back because of the latest data from China despite continuing tensions over Ukraine," said Victor Shum, vice-president of energy consultancy IHS Energy Insight. "The ongoing situation in Ukraine will put a high floor on oil prices and lead to more volatility."
Shanghai copper dropped by its 5 percent daily limit on Monday to its lowest in more than four years after weak Chinese trade data fanned concerns over its metals industry following the country's first domestic bond default last week.
Gold is being pushed lower on the nonfarm numbers and higher 10-year U.S. Treasury yields," said one precious metals trader in Hong Kong. "There is some pressure from China as well because of the weak exports data."
Friday, 7 March 2014
Asian stocks edged up and the dollar index slumped on Friday, as investors looked toward the U.S. nonfarm payrolls report later in the session for confirmation that the U.S. employment picture has improved.
U.S. stocks mostly rose on Thursday, with the S&P 500 closing at yet another record on better-than-expected jobless claims data and the European Central Bank's move to keep rates unchanged.
U.S. Treasury debt prices fell on Thursday as fears over a war in Ukraine abated, helping drive benchmark yields to their highest levels in a week, and as traders prepared for Friday's key non-farm payrolls report.
Britain's top share index edged higher on Thursday, buoyed by updates from as Aviva and Aggreko , although lack of action by the European Central Bank and uncertainty over Ukraine capped gains.
The dollar index, which weighs the dollar against a basket of major currencies, was at 79.666, after skidding as low as 79.590, its lowest since late October, in wake of the euro's surge.