Reuters: US Dollar Report: GLOBAL MARKETS-Sharp rise in U.S. jobs lifts shares, dollar

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GLOBAL MARKETS-Sharp rise in U.S. jobs lifts shares, dollar Nov 2nd 2012, 12:51 Fri Nov 2, 2012 8:51am EDT * U.S. jobs data shows sharper than expected rise in jobs * Shares extend gains, dollar at seven-week high * Wall Street futures jump LONDON, Nov 2 (Reuters) - The dollar strengthened and Wall Street stock futures rose after a better-than-expected rise in U.S. employment provided reassurance on the health of the world's biggest economy ahead of next week's presidential election. The non-farm payrolls data showed employers added 171,000 jobs in October versus forecasts of 125,000, while the jobless rate was in line with expectations at 7.9 percent. The dollar, having already hit a seven-week high in the run up to the data, rose to 80.58 yen and also climbed against the euro, with the euro buying $1.2857. U.S. stock futures jumped, having pointed to a broadly flat open on Wall Street before the release. "Generally it is positive," said David Sloan, an economist at 4cast Ltd in New York. "The payrolls were strong, and the unemployment rate sustained most of its fall from last month, and the household survey has a decent mix of rising employment." The FTSEurofirst 300 index of top European shares tripled their earlier gains to 0.6 percent after the data release, while an MSCI index of world shares was slightly higher at 332.32, near a two-week high. Gold fell to an eight-week low of $1,695.79 an ounce. Link this Share this Digg this Email Reprints

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