Dollar Vulnerable Before Jobs as Currency Faces April Headwind

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The dollar faces an April headwind that’s been blowing since 2011, threatening to put a halt to the currency’s best start to a year in more than a decade.

A gauge of the currency against its peers has fallen this month, following three successive quarters of gains that were driven by speculation the U.S economy is strong enough for the Federal Reserve to raise interest rates this year for the first time since 2006. Reports Wednesday on employment and manufacturing tempered that optimism before the Labor Department announces its monthly jobs data on Friday.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 of its peers, was little changed at 1,197.87 as of 9:16 a.m. in Tokyo, after dropping 0.2 percent Wednesday. It advanced 20 percent in the nine months ended March 31, the biggest three-quarter gain in data going back to 2004. The last time the gauge rose in April was in 2010.

The greenback was unchanged at $1.0763 against the euro and depreciated 0.1 percent to 119.65 yen.

Demand for the dollar dropped on Wednesday after ADP Research Institute said U.S. employers added 189,000 jobs in March, fewer than in February and below economists’ forecast for gains of 225,000. The Labor Department is projected to report the economy added 245,000 nonfarm jobs last month.

Source : Bloomberg

Dollar Drops on Speculation Economic Data Push Back Rates Timing

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The dollar declined after unexpectedly weak U.S. economic reports renewed speculation that the Federal Reserve is in no hurry to raise interest rates.

The Bloomberg Dollar Spot Index dropped for the first time in five days after a private jobs report and a measure of factory output came in lower than projected. This comes before the Labor Department’s nonfarm payrolls report on April 3.

Bloomberg’s Dollar Spot Index, which tracks the U.S. currency against 10 of its peers, fell 0.2 percent to 1,198.19 as of 5 p.m. New York time. The gauge gained for a ninth month in March, the longest streak in data going back to 2004.

The greenback weakened 0.3 percent to $1.0763 per euro after reaching $1.0458 on March 16, the strongest level since January 2003.

The yen gained for the first time in three days against the dollar, adding 0.3 percent to 119.76. It was little changed at 128.89 versus the euro.

Source : Bloomberg

Japanese Stocks Advance From Three-Week Low as Insurers Gain

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Japanese shares advanced, with the Topix index climbing from a three-week low, as insurers led gains.

The Topix added 0.6 percent to 1,537.47 as of 9:01 a.m. in Tokyo, rising for the first time in three days. The Nikkei 225 Stock Average gained 0.5 percent to 19,125.72. The yen gained 0.2 percent to 119.54 per dollar.

E-mini futures on the Standard & Poor’s 500 Index fell 0.1 percent after the underlying gauge slipped 0.4 percent yesterday on weaker-than-estimated data on hiring and manufacturing.

Concerns about economic growth have also weighed on Japanese shares this week, with the Topix sliding 0.9 percent Wednesday after the Bank of Japan’s Tankan survey showed large manufacturers see business conditions weakening this quarter and most companies plan to pare investment in the year ahead.

Source : Bloomberg

Asia Stocks Rise First Time in Six Days Ahead of U.S. Jobs Data

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Asian stocks rose for the first time in six days, with industrial shares leading gains, as investors await the monthly U.S. jobs report for clues on monetary policy and before many markets around the world close for holidays.

The MSCI Asia Pacific Index advanced 0.4 percent to 146.53 as of 9:02 a.m. in Tokyo. The measure fell the past five days, led by declines among health-care and materials companies, after valuations on the regional gauge climbed to the highest level in five years.

A U.S. government report to be released on Friday is forecast to show hiring rose by 245,000 in March. The Federal Reserve has said its first interest-rate increase since 2006 will depend on data showing economic strength and a return to its inflation target.

Japan’s Topix index gained 0.6 percent. South Korea’s Kospi index rose 0.4 percent. Australia’s S&P/ASX 200 Index advanced 0.4 percent, while New Zealand’s NZX 50 Index slipped 0.4 percent.

Source : Bloomberg

Saham AS Ditutup Turun, Sementara Obligasi Meningkat; Minyak Menguat

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Saham AS ditutup turun diikuti dolar, sementara obligasi naik seiring menurunannya perkiraan data dari yang diperkirakan pada perekrutan dan manufaktur yang meningkatkan kekhawatiran atas melambatnya pertumbuhan ekonomi. Minyak naik pasca produksi minyak mentah Amerika turun.

Indeks Standard & Poor 500 turun 0,4% pada 04:00 sore di New York, pasca membukukan kenaikan kuartalan kesembilan secara beruntun. Imbal hasil obligasi dengan tenor 10-tahun turun enam basis poin menjadi 1,87%.

Indeks Spot Dollar Bloomberg melemah 0,2% pasca membukukan gain selama empat hari. Minyak mentah West Texas Intermediate (WTI) reli 5,2% untuk gain terbesar dalam dua bulan terakhir.(yds)

Sumber: Bloomberg