Spreadex Market Update
Asian stocks advanced overnight
Asian stocks advanced overnight with the regional index heading for a fourth weekly increase ahead of all important non-farm unemployment data from the US. FTSE futures are indicating a lacklustre open, currently unchanged on the day ahead of the news. The euro remained near overnight highs following the European Central Bank’s decision not to ease policy.
Analysts are expecting US non-farm payrolls to have increased to 149,000 in February. Last month’s reading failed it impress, coming in at 113,000, 75,000 shy of expectations. ADP non-farm data on Wednesday, although not always a direct correlation with today’s non-farms, showed that ADP provided a lower payroll service to US corporations than expected. Weekly Unemployment Claims beat on Thursday, after a private report showed layoffs eased in February.
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