U.S. job growth blew past expectations in March and wages increased at a steady clip, suggesting the economy ended the first quarter on solid ground and potentially delaying anticipated Federal Reserve interest rate cuts this year.
Asian shares started the week on a subdued note on Monday, while the dollar firmed as investors weighed when the U.S. Federal Reserve will start cutting rates in the wake of yet another blowout jobs report.
Oil prices fell sharply in early Asian trade on Monday after Israel withdrew soldiers from parts of Gaza and committed to renewed dialogue over a potential ceasefire with Hamas.
The dollar was firm but sluggish in Asian trading on Monday as investors looked ahead to U.S. inflation data after the big payrolls number last week, and as Treasury yields reached for December highs.
Asian shares retreated on Friday as hawkish comments from some Federal Reserve officials and escalating geopolitical tensions put a dent in risk sentiment, while traders were also cautious ahead of U.S. jobs data due later in the day.
Euro zone business activity expanded last month for the first time since May 2023 but the recovery was uneven with a stronger than expected upturn in the bloc's dominant services industry offsetting a deeper downturn in manufacturing, a survey showed.