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Pros Say: US Jobless Rate Could Hit 10.2% in '09

CNBC.com
Friday, 3 Apr 2009 | 7:11 AM ET

While most Asian markets closed higher Friday on the back of the G20 summit optimism and a rally in tech stocks, European markets were lower ahead of the March U.S. jobs report. Economists polled by Reuters expect a decline of 650,000 jobs.

Experts tell CNBC the U.S. jobless rate could climb into double digits.

Real Economy is Hurting

U.S. jobless rate could rise to 10.2 percent this year, says Robert Rennie, currency strategist at the Westpac Bank. He tells CNBC the U.S. economy resembles a w-shaped recovery and the next leg is potentially back down again.

Expect More Dollar Weakness

Expect further dollar weakness over the next few days, says Timothy Connors, corporate FX manager at Custom House. He tells CNBC why he sees a return to riskier currencies like the Aussie dollar.

End of Cash Calls from Financials?

The changes made to mark-to-market accounting rules does not eliminate more cash calls from the financials, says Lorraine Tan, VP of Asia equity research at Standard & Poor's Equity Research.

Beware Rise of Protectionism

G20 leaders have crafted a concrete action plan to address the global crisis but the rise of protectionism remains the greatest concern, says Robert Kimmitt, a former Deputy Secretary of the U.S. Treasury.

G20's Achievements — Modest But Positive

The achievements made at the G20 Summit were modest but positive, says Dan Alamariu, analyst, comparative analytics at the Eurasia Group. He offers his assessment of the measures the G20 have agreed on.

G20 Good for Emerging Markets

Agreements from the G20 leaders are generally better-than-expected for emerging markets, Guy Verberne from Fortis Bank Netherlands, Merchant Banking, told CNBC.

Investors Hope for Jobs Lift

Stocks could fall if the US jobs report is worse then expected, but the market wants to go up, Dodge Dorland from Landor Capital Management told CNBC. Maxwell Clarke from IDEAglobal joined the discussion.

Contact Europe: Economy

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