DJIA chart reading : upside biased with possible pullback.
FTSE chart reading : side way range bound little upside biased.
DAX chart reading : side way range bound.
Hang Seng chart reading : side way range bound.
Japan Post-Quake Tankan Shows Companies Less Optimistic (Source: Bloomberg)
Japanese large manufacturers’ business confidence fell after the nation’s strongest earthquake on record devastated the northeast region on March 11.
Two-Year Treasuries Decline as Employment Gains Revive Inflation Concern (Source: Bloomberg)
Treasury two-year notes fell, with the yield touching a 10-month high as Federal Reserve officials said the central bank may have to unwind stimulus measures and employers added more jobs in March than forecast.
U.S. Unemployment Rate Unexpectedly Drops to Two-Year Low of 8.8% in March (Source: Bloomberg)
The unemployment rate in the U.S. unexpectedly fell to a two-year low of 8.8 percent in March as employers created more jobs than forecast, adding to evidence the labor-market recovery is gaining traction.
Brazil Currency Rally Said to Prompt Talks on New Measures to Stem Inflows (Source: Bloomberg)
The Brazilian currency’s rally this week, the biggest in more than 20 months, is prompting Finance Minister Guido Mantega to consider new measures to stem the dollar’s decline, a government official said.
Dudley Signals More ‘Healing’ for Economy Needed Before Fed Pulls Stimulus (Source: Bloomberg)
Faster-than-expected payroll growth last month shouldn’t alter the U.S. central bank’s plans to buy $600 billion in Treasuries through June to prop up the recovery, said William C. Dudley, president of the Federal Reserve Bank of New York.
Ireland’s Rating Cut to BBB+ By S&P as Bank Rescue Costs Hit $142 Billion (Source: Bloomberg)
Ireland’s credit rating was cut one level by Standard & Poor’s and put on watch for a possible downgrade by Fitch Ratings after the cost of rescuing Irish banks reached as much as 100 billion euros ($141.5 billion).
Construction Spending in U.S. Decreased More Than Estimated in February (Source: Bloomberg)
Construction spending in the U.S. fell more than forecast in February, indicating the economic recovery has not yet spread to the building industry. The 1.4 percent drop was the third in a row and brought the value of all projects down to a $760.6 billion annual rate, the lowest since October 1999, Commerce Department figures showed today in Washington. The median estimate of economists in a Bloomberg survey called for a 0.2 percent decline.
Japan Auto Sales Plunge Record 37% as Quake Deters Buyers, Shuts Factories (Source: Bloomberg)
Toyota Motor Corp. (7203) led a record drop in Japan’s March auto sales after the nation’s biggest earthquake and ensuing nuclear crisis deterred buyers and forced automakers to shut factories.
Japan Stocks Rise After U.S. Jobs Grew Faster Than Forecast; Canon Gains (Source: Bloomberg)
Japanese stocks rose after a report showing U.S. jobs grew faster than forecast and a weakening yen boosted optimism in an economic recovery.
Yen Weakens on View European Prices, U.S. Services Data will Show Growth (Source: Bloomberg)
The yen fell to a 10-month low versus the euro before reports this week that economists said will show European producer-price inflation rose and U.S. services industries grew, reducing demand for Japan’s currency.
Fed hawks challenge easy money stance
CHARLOTTE, N.C./PITTSBURGH March 31 (Reuters) - Federal Reserve hawks on Thursday renewed skepticism about the U.S. central bank's easy money policies, with one official saying interest-rate rises may be needed before the end of the year.
Minneapolis Federal Reserve President Narayana Kocherlakota said the Fed could raise rates by the end of 2011, far sooner than expected by financial markets, according to an interview with the Wall Street Journal. Most analysts do not expect rate hikes until the second half of 2012.
China may raise rates in April after inflation jump -media
BEIJING, April 1 (Reuters) - China's central bank may have to raise both interest rates and reserve requirements in April to combat a possible jump in consumer inflation to a nearly three-year high, a government researcher said in remarks published on Friday.
The comments by Fan Jianjun, a researcher with the Development Research Centre, a think tank under the State Council, followed reports in official Chinese media this week that April would be a "sensitive window" for more tightening moves because of a likely pick-up in inflation.
Factories buoyant, price pressures rising
LONDON/BEIJING, April 1 (Reuters) - Factories in Europe eased off the accelerator last month but Chinese and Indian manufacturers bumped up production, so far unscathed by Japan's devastating earthquake and tsunami, surveys showed on Friday.
Worryingly for policymakers, sustained growth in orders allowed European manufacturers to pass on the costs of soaring raw materials to customers, with prices rising at their fastest rate since at least late 2002.
Honda, Mazda to resume some production
TOKYO, March 31 (Reuters) - Honda Motor Co and Mazda Motor Corp on Thursday became the latest major automakers to say they would resume some production in Japan after halting plant operations following the earthquake and tsunami of March 11.
Honda said it would resume production of parts for overseas use on April 4, and production at all its car factories on April 11. Operations are scheduled to resume at about 50 percent of its original plan.
Commods investors to keep powder dry on allocations
NEW YORK, April 1 (Reuters) - Commodity traders waiting for a fresh onset of institutional investment with the dawning of the second quarter may be in for disappointment.
Two years of steady allocations into raw material, energy and agricultural markets may stall for the time being, with several weeks of moribund activity extended by deep uncertainties in the Middle East, Japan and eurozone.
FOREX-Euro advances in Q1, but debt woes could weigh in Q2
NEW YORK, March 31 (Reuters) - The euro firmed against the U.S. dollar in the first quarter, buoyed by expectations of euro zone rate hikes, but gains could stall in the next few weeks due to nagging peripheral debt concerns.
"In our view, the euro will weaken on a longer-term horizon ... There's an awful lot of (rate hikes) priced in at the moment and that's because of the change in language from ECB President (Jean-Claude) Trichet," said Frances Hudson, investment director for strategy at Standard Life Investments in Edinburgh.
Stocks up, euro weakens ahead of U.S. jobs data
LONDON, April 1 (Reuters) - World stocks rose and the euro weakened slightly against the dollar on the opening day of the second quarter, ahead of U.S. jobs data expected to give further impetus to those investors betting on improving world growth. "A strong non-farm payrolls number would be reflected in the dollar/yen and it could rise to 84.50 in the short term," said Simon Derrick, head of currency research, at Bank of New York Mellon. "We expect to see prolonged yen weakness due to loose monetary and fiscal policy in Japan."
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