Aust dollar hits new nine-month high

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The Australian dollar has soared to new heights as the greenback loses ground for a third straight day.

At 7am (AEDT) on Friday, the local unit was trading at US76.67c, up from US76.47c on Thursday.

The Aussie soared to US77.23c overnight, the highest level since last July.

Meanwhile, the US dollar index fell to a new six-month low as the effects of US central bank boss Janet Yellen’s dovish speech linger.

OANDA Australia and Asia Pacific senior trader Stephen Innes said the high-risk US non-farm payrolls report is a potential data point minefield for the Aussie.

Mr Innes said that with recent Fed speak emphasis on payrolls data, any significant fall from the expected 205,000 in jobs growth would hurt the greenback.

“A fall towards the 150,000 level should send the US dollar into a tailspin,” he said.

Source: businessspectator

Oil Futures Jump More Than 13% For The Month

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Oil futures finished the month on Thursday with a gain of more than 13%, with prices finding support from falling U.S. production and the prospect of a freeze in output by major producers.

May WTI crude settled at $38.34 a barrel on the New York Mercantile Exchange, up 2 cents for the session. Prices gained about 13.5% for the month and 3.5% for the quarter, according to FactSet.

Source: marketwatch

Asia Stocks Fall After Best Month Since October Before Jobs Data

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Asian stocks fell, following the best monthly advance since October, as Japanese corporate sentiment slumped and investors awaited the release of U.S. monthly jobs data.

The MSCI Asia Pacific Index slid 0.9 percent to 127.75 as of 9:15 a.m. in Tokyo. The gauge climbed 8.2 percent last month, ending a tumultuous quarter for global markets. Equities have rebounded from lows in February as the Federal Reserve reassured investors that it won’t rush to increase borrowing costs. The recovery was most evident on Hong Kong’s Hang Seng Index, which entered a bull market Thursday.

Japan’s Topix index slipped 1.5 percent, sending it toward a weekly decline of 2.9 percent. The Tankan index of sentiment among large manufacturers fell to a reading of 6 in the first quarter, the lowest level since mid-2013, from 12 in the previous three months, the Bank of Japan reported Friday. Economists had expected a reading of 8. A positive number means there are more optimists than pessimists among manufacturers.

Australia’s S&P/ASX 200 Index declined 1.8 percent, after jumping 1.5 percent Thursday. New Zealand’s S&P/NZX 50 Index slipped 0.2 percent after closing at a record high. South Korea’s Kospi index retreated 0.3 percent.

Source : Bloomberg

Japan Stocks Fall for Fourth Day as Corporate Sentiment Slumps

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Stocks fell for a fourth day in Tokyo, after the benchmark equity index capped a 13 percent quarterly drop, as a report showed corporate sentiment deteriorated to near a three-year low.

The Topix index dropped 1.5 percent to 1,327.43 at 9:14 a.m. in Tokyo, with all of its 33 industry groups declining. The measure is headed for a 2.4 percent loss this week. The Nikkei 225 Stock Average fell 1.4 percent to 16,531.16 on Friday after the Tankan index of confidence among large manufacturers missed economist estimates. The yen added 0.2 percent to 112.31 per dollar.

The Tankan index fell to a reading of 6 in the first quarter, the lowest level since mid-2013, from 12 in the previous three months, the Bank of Japan reported Friday. Economists had expected a reading of 8. A positive number means there are more optimists than pessimists among manufacturers. Big companies across all industries plan to cut capital expenditure by 0.9 percent this fiscal year, more than the median economist estimate of 0.7 percent.

Futures on the Standard & Poor’s 500 Index were little changed. The underlying U.S. equity gauge fell 0.2 percent on Thursday as the March rebound that had global equities on the brink of erasing losses for 2016 faltered. The U.S. releases its March payrolls report on Friday.

Source : Bloomberg

Hong Kong shares dip on profit taking, Hang Seng sheds over 5 pct in Q1

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Hong Kong's benchmark share index retreated from near three-month highs on Thursday as some investors took profits from a jump in the previous session as fears of a near-term U.S. interest rate hike receded.

The Hang Seng index ended down 0.1 percent at 20,776.70 points, while the China Enterprises Index gained 0.3 percent to 9,003.25.

For the month, the Hang Seng gained 8.7 percent, but was still down 5.2 percent in the first quarter after a dismal start to the year.

Energy shares were firm but the financial sector fell, weighed down by China's state-owned lenders, which have reported flat earnings growth and higher bad loans as economic growth slows.

Shares of Dalian Wanda Commercial Properties Co Ltd surged 18.4 percent, after disclosing that its parent Dalian Wanda Group was looking at taking the company private.