SINGAPORE, April 8 — Asian shares started the week on a subdued note today, while the dollar firmed as investors weighed when the US Federal Reserve will start cutting rates...
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.26 per cent higher, while Tokyo’s Nikkei rose 1 per cent. — AFP picSINGAPORE, April 8 — Asian shares started the week on a subdued note today, while the dollar firmed as investors weighed when the US Federal Reserve will start cutting rates in the wake of yet another blowout jobs report.
Wall Street’s main indexes closed higher on Friday after data showed US job growth blew past expectations in March and wages increased at a steady clip, suggesting the economy ended the first quarter on solid ground. Investor focus this week will be squarely on the US consumer price index report, which is expected to show core inflation slowing to 3.7 per cent in March from 3.8 per cent the prior month.
The changing expectations on the outlook for US rates have lifted Treasury yields, with the two-year Treasury yield, which typically moves in step with interest rate expectations, up 4.2 basis points at 4.774 per cent, the highest in nearly four months.The elevated yields boosted the dollar, with the euro down 0.06 per cent to US$1.0829 , while sterling was last trading at US$1.2622, down 0.11 per cent on the day.
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