Friday, May 4, 2012

Reuters: US Dollar Report: GLOBAL MARKETS-U.S. jobs disappoint, Wall St. Set for mixed start

Reuters: US Dollar Report
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GLOBAL MARKETS-U.S. jobs disappoint, Wall St. Set for mixed start
May 4th 2012, 12:46

LONDON | Fri May 4, 2012 8:46am EDT

LONDON May 4 (Reuters) - Wall Street looked set for a mixed start on Friday and the dollar was steady against a basket of major currencies after worse-than-expected U.S. jobs data briefly rattled investors concerned about recovery in the world's largest economy.

U.S. April nonfarm payrolls rose 115,000, below the consensus forecast for a rise of 170,000 and down from March's upwardly revised increase of 154,000.

The euro was down around 0.1 percent against the dollar at $1.3134, 10-year U.S. Treasuries were flat, yielding 1.929 percent and European shares were down nearly three-quarters of a percent.

"The bottom line is we saw disappointing retail sales yesterday, now we're seeing weak labor market data. Hopefully this is just a weak patch, one that doesn't become a weaker patch," said Wayne Kaufman, chief market analyst John Thomas Financial in New York.

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