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| Subject: The Australian dollar is slightly higherafter the Easter holidays, | |
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Author: Dow and the S&P 500 extended losses to fourth day on Monday |
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Date Posted: 14:36:02 04/09/12 Mon In reply to: April 9th 2012 's message, "US stocks tumbled Monday disappointing jobs report" on 14:11:45 04/09/12 Mon The Australian dollar is slightly higher after the Easter holidays, as US stocks weakened on lower-than-expected jobs figures. At 0630 AEST on Tuesday, the Australian dollar was trading at 103.13 US cents, up from 103.05 cents on Thursday. HiFX senior trader Stuart Ive said US market moves were the main factor influencing the Australian dollar. "There have been two bits of data of note out since Friday," he said. "The first was the US payrolls, which came in much lower than expected. "The reason the US dollar hasn't done so well in the last 12 hours is because of rising expectations that the US might consider further stimulus to the economy, if the payrolls data continues to be weak." US non-farm payrolls data, released on Good Friday, show that 120,000 jobs were created in March, well below the market expectation of 203,000. Australian markets would also be watching Chinese data this week, Mr Ive said. "We saw Chinese CPI (consumer price index) come out yesterday slightly elevated," he said. "This could mean that it's harder for the Chinese to cut their reserve rate ratio. "It's expected that the Chinese central bank will say the elevation is temporary, and due to the rise in oil prices because of tensions with Iran." Chinese CPI rose 3.6 per cent in March from a year earlier, compared to a rise of 3.2 per cent in February. Other important data was due out in China this week, including gross domestic product (GDP) figures, Mr Ive said. ================================ Wall Street sinks in wake of jobs report Reuters – 1 hour 19 minutes ago Companies: Dow Jones Industrial Average Mechel OAO Agria Corporation RELATED QUOTES Symbol Price Change ^DJI 12,929.59 -130.55 XLF 15.30 -0.23 AOL 26.40 +7.98 GOOG 630.84 -1.48 JPM 43.89 -0.45 Related Content View Photo Traders work on the floor of the New York Stock Exchange, April 9, 2012. REUTERS/Brendan McDermid NEW YORK (Reuters) - The Dow and the S&P 500 extended losses to a fourth day on Monday, as investors took their cues from last week's disappointing jobs report, which raised new concerns about the U.S. economy's recovery. The Dow Jones industrial average closed below its 50-day moving average for the first time since December 19. The Dow Jones industrial average (DJI:^DJI - News) dropped 130.55 points, or 1.00 percent, to end unofficially at 12,929.59. The Standard & Poor's 500 Index (MXP:^GSPC - News) fell 15.88 points, or 1.14 percent, to finish unofficially at 1,382.20. The Nasdaq Composite Index (NAS:^COMP) lost 33.42 points, or 1.08 percent, to close unofficially at 3,047.08. (Reporting by Edward Krudy; Editing by Jan Paschal) [ Next Thread | Previous Thread | Next Message | Previous Message ] |
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| Brace yourself One direction lands in Australia 7 Sunrise (NT) | China Girl | 14:41:27 04/09/12 Mon |