U.S. jobs data put pressure on global markets

Investors were disappointed, though moderate, on the U.S. jobs report, but the wider background was outstanding concerns about the euro zone and on the continued improvement in global economic growth.

Decline in the FTSE All-world stock rose 0.4 per cent, also went down industrial metals, and recorded the cost of insurance against the insolvency of a basket of European government bonds hit a new record in a time when the troubles of public finances in the euro area as well as the pressure on the enthusiasm of traders.

And revealed the U.S. Department of Labor that the net number of new jobs that have entered the labor market in the United States in December (December) was 103 thousand jobs, while the projections indicate that the number of new jobs will be 175 thousand jobs.

The market reacted to the news a negative nature, where traders feel concerned that while the labor market is moving in the right direction, but the relative weakness of this market would make it difficult for the U.S. economy to reach escape velocity'''' of economic stagnation resulting from the credit crisis of 2007.

Although the demand for U.S. Treasury bonds has been strong to a good degree, but the Standard & Poor's 500 was down by only 0.2 per cent, thanks in large part to the decline in the shares of banks easy.

The price of oil was slightly lower in the early stages of the trading session, but recovered slightly during the day and returned to its previous state unchanged, a sign that the jobs report did not lead to the overthrow of the full expectations.

Also, the comments made today by Ben Bernanke, chairman of the U.S. central bank, has done little to persuade the traders not to continue in support.

Nevertheless, reports about jobs disappearing comes on the day investors were receiving it at all other news remind them that some of the issues of long standing have the ability to disrupt rush into risky assets, which would have recorded some of the standard indicators of well-known record Top new two years ago, and commodities such as copper touched new record prices.

For example, the occurrence of new turmoil in the bond markets in the euro area, the kind that began last Thursday, has the potential to disturb the mood.

Chinese officials continue to do their best to speak positively about the euro-zone bonds, where the central bank said today that the investment in sovereign bonds for the euro zone gives reasonable returns.

But this was not a great benefit for the euro, which cuts through a new barrier of $ 1.30. Have been recorded in bond yields standard of Portugal and Spain, a new high figures in the era of the euro, given that the concerns of the funding prospects for interest on bonds darken the mood.

In addition, the''contract''of globalization, the darling of the hearts of the owners of the free market, showing a level of vulnerability, as in a time of severe imbalances in the form of regular skirmishes in front of foreign currency.

Brazil is another country that seeks to limit the power of its own currency, and this highlights the amount of tension that can be received with stones in the global economic engine.

In Europe, stock markets opened mixed transactions, where it was clear that traders were reluctant to engage in transactions such as strong U.S. jobs report.

But it was more of sales once the euro has shown signs of weakness, at a time when revenues jumped on the sovereign bonds of the peripheral countries in the euro zone after the large body of news about the numbers of U.S. jobs.

The decline in the FTSE Eurofirst 300 Europe rose by 0.2 per cent, and in London the FTSE fell 100 rose 0.6 per cent, against the backdrop of trouble mining stocks after shares of banks that lost initial gains.

In foreign exchange markets, the euro back below the $ 1.30 level, while investors remain in a state of anxiety about the financial troubles experienced by the public of some countries in the euro zone.

The euro was down 0.5 per cent, bringing the price to U.S. $ 1.2933, and thus had touched its lowest level since the month of September (September 2010). The reason was that sparked this patch is the news that came before, the retail sales in Germany fell by 2.4 per cent in November (November).

On the other hand, the dollar index, which measures the U.S. currency against a basket of currencies similar, gave up some initial gains, at a time when investors are calculated by low levels of growth, which is now higher by 0.4 per cent, at 81.02 points, since the offer may stop by the gains obtained by the yen, which rose to fetch up against the dollar to 83.04 yen.

In bond markets, has moved U.S. Treasuries to the lowest level of the range with a width of 20 basis points between 3.33 per cent and 3.53 per cent, a range it has maintained for four weeks during the occurrence of a tension between the hopes of economic growth and the program of buying bonds, which The Central Bank of the United States.

Revenues have declined for the gains they achieved in the earlier stage, and fell by seven basis points to reach the interest rate to 3.33 per cent, while traders awaited whether the U.S. jobs data could give momentum is strong enough to break the deadlock.

And the returns on bonds remain peripheral countries in the euro area at the high levels recorded by the last Thursday following the publication of the proposals made by the European Commission on the margins of the warranty prior to be received by holders of bank bonds in any process of rescue operations in the future.

The increased bond yields standard for ten years in Portugal, by 17 basis points up to 7.13 per cent, in Spain by four basis points to reach 5.50 per cent, where the rates for the two countries was lower by only a small indices recorded during the day.

Is noteworthy that the index''Market iTraxx will XP for Western Europe'', which measures contracts Mutual Insurance against insolvency of the bonds, which is a measure of the cost of insurance on a basket composed of government bonds for 15 European countries, this indicator rose by six points basis for up to a record level of $ 218 basis points.

In commodity markets, with mixed results, due to movements of profit-taking that characterized the nature of this trading week, which affected the selected items after that showed a strong performance during the recent period.

Oil has fallen with the spread of some clouds on the prospects for global economic growth, despite scoring some height above the lower levels in the late trading session.

The price remained unchanged at 88.41 dollars a barrel, while copper fell by 1.1 per cent to reach price to 4.28 dollars for the English pound (GBP) in trading in New York.
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