Most Markets Closed for Easter
April 6, 2015 2:10 pmVideo
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April 6, 2015 – Indices News
U.S markets remained closed on Friday due to Good Friday Celebrations. Regardless of market closures, the NFP report was still released and widely disappointed investors. Payrolls rose by 126,000 in March, marking its slowest gain since December 2013. Economists had predicted to see 245,000 new jobs and added to recent figures which have painted the outlook of a slower economy. The data further offset expectations for the interest rate hike in the U.S. and it is now speculated it may occur even later than September. Markets will re- open today and traders will react to the data with delay. Futures are declining; the Dow Future is 0.7% lower and the S&P future is also 0.7% lower. Traders should also watch two economic reports today including a speech from FOMC Member, William Dudley and the ISM Non-Manufacturing PMI.
Asian markets were mostly closed today. The Nikkei, however, dropped 0.19% despite the fact that the Dollar was much lower against the Yen. Traders reacted to the weak U.S jobs data and signs of a slowdown in the economy. Toshiba Corp lost 4.88%, Tosoh Corp lost 3.74% and IHI Corp lost 3.66%.
European markets were closed on Friday for Good Friday but also remain closed today for Easter Monday. Despite closures, the Euro climbed 1% vs the Dollar on Friday following the surprisingly weak NFP report. Greece is still in the spotlight and Prime Minister Alexis Tsipras will be visiting Moscow this week and this could cause some volatility. Greece has a $480 billion loan repayment due this week and has yet to agree on terms for and extension with the IMF or ECB.
Another important release this week will be the FOMC Meeting Minutes. They could provide clues for when we could expect the interest rate hike.
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