Last Friday, data showed that US non-farm payrolls rose by just 120,000 in March, short of forecasts for a 200,000 lift in jobs. But the unemployment rate eased from 8.3pct to a three-year low of 8.2pct.

Yesterday, data showed that Chinese consumer prices rose by 3.6 per cent in the year to March, up from a 3.2pct annual rate in February. The result was driven by higher food and petrol prices. But producer prices fell 0.3pct in the year to March after a flat result in the year to February.

European sharemarkets were generally closed on Friday and Monday. Last Thursday the FTSEurofirst 300 index rose 0.1pct ahead of the Easter break with the German Dax down 0.1pct but UK FTSE up 0.4pct.

US sharemarkets fell on Monday with investors getting their first chance to respond to Friday´s weaker-than-expected jobs report. Last Thursday the Dow Jones was down 14.6pts or 0.1pct with the S&P 500 down 0.06pct but the Nasdaq gained 0.4pct. On Monday, the Dow Jones fell by 130pts or 1.0pct with the S&P 500 down by 1.1pct and the Nasdaq fell by 33pts or 1.1pct.

US treasuries rose further on Monday (yields lower) after spiking higher on Friday´s shortened trading session. US 2yr yields fell 2pts on Friday and were little changed on Monday at 0.32pct. Meanwhile US 10yr yields fell by 13pts on Friday and fell a further 1pt on Monday to 2.047pct.

The US dollar lost ground against the Euro and commodity currencies on Monday as investors held out hope for more monetary stimulus in the US (QE3). The Euro rose from lows around US$1.3050 to near US$1.3130, and was close to US$1.3110 in late US trade. The Aussie dollar rose from lows near US102.75c to highs around US103.30c and was near US103.15c in late US trade. And the Japanese yen eased from 81.21 yen per US dollar to JPY81.66 and was near JPY81.56 in late US trade.

Benchmark crude oil prices gave back Thursday´s gains on Monday as investors responded to the latest US and Chinese economic data. US Nymex crude fell by 85c on Monday to US$102.46 a barrel after lifting by US1.84 on Thursday. Meanwhile London Brent crude fell by US76c on Monday to US$122.67 a barrel after lifting by US$1.09 on Thursday.

Base metal prices were firmer on Thursday ahead of the Easter holiday period. Metals rose up to 3.1pct (nickel) with lead up 2.6pct. But copper edged just 0.3pct higher. The gold price rose on Monday after Indian jewellery buyers picked up stock following the end of a three-week strike. On Monday the June Comex gold price rose by US$13.80 or 0.9pct to US$1,643.90 an ounce. Last week the gold price fell by 2.3pct.

Ahead: In Australia, the NAB business survey and ANZ job ads survey are released. In China, March trade data is released. In the US, data on wholesale sales is released together with weekly chain store sales data. Alcoa kicks off the earnings season, releasing results after the bell on Tuesday.