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Dollar to stay weak; China cheaper than India: Matthews

Matthews is anticipating the first rate hike by the US central bank in September rather than June.

Global markets are expected to rally Monday on the back of weaker-than-expected US jobs data which was released Friday. The employment data showed that the economy added 1,26,000 jobs in March compared to 2,95,000 jobs in February, the lowest since December 2013.

The weakness in data has sparked hope of a delay in the rate hikes by the US Federal Reserve. Speaking to CNBC-TV18, Mark Matthews of Bank Julius Baer & Co said the US jobs data is very weak and is bad only for the US market. He believes dollar weakness will continue going ahead. He expects S&P 500 to see lower levels. 

Matthews is anticipating the first rate hike by the US central bank in September rather than June.

On India, Matthews believes the bullishness on India market has been tempered by weak earnings. He does not see huge price gains in the market in near-term. According to him, Chinese market is much cheaper than India now.

Interview transcript to follow shortly

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