Spreadex Market Update

Asian shares rise overnight



Asian shares rose overnight supported by gains in U.S. stocks on solid data and Chinese exports beating forecasts. The dollar reached a new 3 year high against the yen underpinning investor risk sentiment while denting demand for the traditional safe haven gold.

China said February exports grew 21.8 percent from a year earlier, more than double the estimated rise, while imports fell 15.2 percent, deeper than an 8.8 percent drop forecast.
Investors now awaited key U.S. jobs data due at 1330 GMT for further signs of strength in the world's largest economy. Analysts expect a rise of 160,000 jobs in February.

Friday's payrolls report is key to gauging the U.S. Federal Reserve's policy course as the Fed will keep its near-zero rate stance until the unemployment rate falls to 6.5 percent, as long as inflation does not threaten to top 2.5 percent.

Thursday's data showing an unexpected drop in new initial jobless claims benefits last week indicated a steady economic improvement and drove the Dow Jones industrial average to an intraday record for a third consecutive session.

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