Malaysia

Exports In February Remained Strong And Expanded By 12.3% YoY, a tick higher than the previous month’s 12.2% and beating market expectations of 10.6%. This is the result of continued robust demand for electrical and electronics (E&E) from Asia, USA and the EU. On a monthly comparison however, exports fell by 7.9%, an annual norm as many companies wind down production on account of the Lunar New Year. Imports also remained strong in February, rising by 9.5% following a 7.2% increase in January. On better exports, trade surplus widened to RM10.4b from RM6.4b whilst total trade increased by 11.0% annually, from 9.8% in January. (Please refer to Economic Viewpoint for further comments)

Asia

China 2013 Current Account Surplus At US$182.8bil. China's had a final current account surplus of US$182.8bil in 2013 and a surplus of US$326.2bil in its capital and financial account, the country's foreign exchange regulator said on Friday. China will be able to maintain a certain level of current account surplus in 2014, the State Administration of Foreign Exchange, or SAFE, said in a statement on its website (ww.safe.gov.cn). The government will keep the country's balance of payments basically stable and prevent risks from cross-border capital flows, it said. (Reuters)

Home Sales In China's Big Cities Down 40pct In Q1. The country's property market has gotten off to a slower start this year than in 2013. The number of homes sold in the first quarter in tier-one cities – Chinese property market jargon for the major cities of Beijing, Shanghai, Shenzhen and Guangzhou – was more than 40 % lower than during the same period last year, data released by China Index Academy on April 1 shows. Transactions in the capital fell the most among the four cities, by 51 %, followed by Guangzhou (43 %), Shenzhen (38 %) and Shanghai (36 %). (CNBC)

North America

US Economy Adds 192,000 Jobs In March. The US added 192,000 new jobs in March, in line with expectations, as the unemployment rate held steady at 6.7%. Severe weather over the winter did not prevent the monthly average for new jobs from continuing a climb towards pre-economic crisis levels. Employment grew in health care, and professional and business services, and in mining and logging. The US Federal Reserve has been watching employment rates as an indicator of economic health. The March jobs figures were broadly in line with economists' expectations of 200,000 new posts per month for 2014, while the number of people who were unemployed remained at 10.5 million. (BBC)

Canada Employment Rebounded In March On Public Sector. Canadian employment rebounded in March, climbing almost twice as fast as economists forecast, led by government workers. Employment rose by 42,900, the most in seven months, following a decline of 7,000 in February. The jobless rate fell to 6.9 % from 7.0 %, Statistics Canada said today in Ottawa. Economists surveyed by Bloomberg News projected a 22,500 job increase and a jobless rate unchanged at 7 %, according to median forecasts. (Reuters)

Europe

Spain Yields Drop Below U.S.’S As Europe Bonds Rally. Spain’s five-year note yields fell below their American equivalents for the first time since 2007 this week as euro-area bonds surged on bets the European Central Bank will add more stimulus to the economy. Yields across the region’s peripheral countries fell to records after ECB President Mario Draghi said on April 3 policy makers were considering measures including bond purchases, or quantitative easing. The yield premium investors demand to hold Italy’s securities instead of Germany’s slid yesterday the most since January. Greek 10-year yields dropped to the least in four years as officials said the nation plans to follow Ireland and Portugal in returning to capital markets. (Bloomberg)

Russian Inflation Accelerates To Nine-Month High On Ruble. Russian March inflation was the fastest in nine months, driven by the ruble’s weakening amid the country’s worst standoff against the U.S. and the European Union since the end of the Cold War. Consumer prices rose 6.9 % from a year earlier after 6.2 % advance in February, the Federal Statistics Service in Moscow said today in an e-mailed statement. The median estimate of 18 economists in a Bloomberg survey was 6.8 %. Prices rose 1 % on the month, compared with a median forecast of 0.9 %. (Bloomberg)

Currencies

Dollar Falls As Jobs Data Push Out Rate-Hike View. The dollar fell against the yen Friday after the employment report showed the U.S. added fewer jobs in March than had been expected, prompting some traders to delay expectations for when the Federal Reserve could hike rates. The dollar fell to ¥103.25 from ¥103.93 late Thursday, moving in step with a drop in the benchmark 10-year Treasury yield. The euro fell to $1.3701 from $1.3719 late Thursday, marking the lowest level since Feb. 26, according to FactSet. The ICE dollar index, which pits the greenback against six rivals, edged down to 80.432 from 80.454 late Thursday. The British pound fell to $1.6579 from $1.6599 in the prior session. The Australian dollar rose to 92.87 U.S. cents from 92.32 U.S. cents. (Market Watch)

Commodities

Global Crude Oil Prices Gain On U.S. Jobs Data, Libya Doubt. U.S. crude oil rose on Friday as data showed strong jobs growth in the United States and Brent crude followed suit as investors cast doubt on reports Libya's oil ports were about to reopen. May Brent crude rose 57 cents to settle at $106.72 a barrel, down 1.3 % for the week. U.S. crude for May gained 85 cents to settle at $101.14 a barrel, after earlier notching a high of $101.63. (Reuters)

Gold Rises Over 1 Pct On Short-Covering After U.S. Payroll Data. Gold rose more than 1 % on Friday, its biggest daily gain in nearly a month, after data showing brisk U.S. employment growth in March unleashed heavy short-covering by bullion investors who had feared the job figures would sharply exceed Wall Street's expectations. Spot gold rose 1.2 % to $1,302.91 an ounce by 2:47 p.m. EDT (1847 GMT), having earlier reached $1,306.50 - the highest since March 27. Silver rose 0.6 % to $19.91 an ounce, tracking gold's rise. Among platinum group metals, platinum climbed 0.7 % to $1,446.50, and palladium was up 0.3 % at $786 an ounce. (Reuters)