Even the middle of April still tends to be firm on early quarter investment inflows and quarterly corporate earnings report responses. It is no secret that 70% of all corporate earnings reports beat estimates each quarter regardless of economic conditions. That is due to downbeat original estimates, where earnings reports are then predictably a bit better than expected. The current Q1 2016 reports have been very typical in that regard.
The dollar slipped again on Friday after recording its weakest quarter in 5 1/2 years, with investors doubtful that monthly U.S. jobs data will convince them to bring forward their bets on when the Federal Reserve will raise interest rates.
U.S. employment increased solidly in March and wages rebounded, underscoring the economy's resilience, but the Federal Reserve is expected to remain cautious in raising interest rates this year due to slowing global growth. Non farm payrolls increased 215,000 last month, the Labor Department said on Friday. Data for January and February were revised slightly down to show 1,000 fewer jobs created than previously reported.