Breaking News

Japanese shares plunge after weak data, U.S. payrolls report awaited

News Date: 1/4/2016 02:33:26
Japanese stock sank on Friday, the first trading day of April, after data showed the manufacturing PMI in February sliding to 49.1, the worst such reading since February 2013, while an official survey tracking manufacturing sentiment fell to its lowest in three years, compounding the picture for the world's third largest economy.

Japan's Nikkei index plummeted to one-month low at 16,164, down a hefty 3.55% on the day, while China's Shanghai index fared better, falling just 0.68% after manufacturing returned to growth in February in the world's second largest economy. Australian shares skidded 1.64%, touching a month low at one point.

Oil prices gave up ground in response to the mixed picture, with Brent crude futures losing 30 cents, or 0.70% to trade at $40.04 a barrel, while U.S. West Texas Intermediate (WTI) crude futures shed 36 cents, or 0.94% to hover around $37.89 a barrel.

The dollar was largely flat ahead of later employment data, with the index trading at 94.59, down a tiny 0.06% on the day, while euro inched up 0.03% against the greenback to move around 1.1384. Japan's yen kept up its upward trajectory, advancing 0.31% to trade at 112.22.

Investors wait for the all important U.S. non-farm payrolls report later, expected to showed a healthy growth of 205 thousand new jobs, compared to the previous reading's 242K jobs, but still a positive sign for the world's largest economy.

Average Hourly Wages on the other hand are forecast to have grown 0.2% m/m in February, a good pace of growth after January's 0.1% dip, but the Fed is expected to delay hiking rates at any rate for at least a few months, so the dollar will remain under pressure.

Latest news

Curse continues... Inflation is following us to 2023 Inflation led most of the banks in the world to raise interest rates, in an attempt to reduce it . The International Monetary Fund expects that t
12-2022 30 06:28:23

Gold prices fluctuate with the reduction of dollar's losses Gold's prices varied after its positive start at the expense of the dollar’s decline, which tended to reduce its losses, while oil c
12-2022 29 03:29:32

Vladimir Putin takes revenge by Russian oil embargo President Vladimir Putin has banned Russian oil in response to the price cap. He has signed a decree retaliating against the West's imposition of
12-2022 28 03:04:38

Gold prices rose today, Tuesday, affected by the decline of the dollar, which declined by 0.3%, and gold rose by 0.4% to reach $1804.99 an ounce, and gold futures rose by 0.4% to reach $1811.90. The
12-2022 27 04:19:22

The first Saudi-Japanese ministerial dialogue meeting for energy The Saudi Prince of Energy and the Japanese Minister of Economy and Industry held a meeting in Riyadh - Saudi Arabia, in which they
12-2022 26 02:50:27

More News