Asian shares climb ahead of US jobs data, Fed's Waller soothes bonds
SYDNEY: Asian shares rose on Friday as investors embraced a global rally before crucial U.S. jobs data, while bonds found some much needed relief after a top Federal Reserve official cooled rate hike fears and dragged the dollar lower. The dollar’s retreat turbocharged a rally in the yen, which has gained 2.6% this week to trade at 155.7 a dollar, putting it within striking distance of the 155.2…
Asian markets surged on Friday, riding a wave of optimism ahead of key U.S. jobs data and as Federal Reserve Governor Christopher Waller's recent remarks helped ease concerns over potential rate hikes. Bonds experienced a brief respite after Waller's comments, signaling potential caution in future policy moves. The dollar weakened, bolstering the Japanese yen, which had gained 2.6% this week to trade at 155.7 against the U.S. dollar.
Fed Governor Waller's speech suggested some signs of disinflation, with analysts noting that Chair Jerome Powell might hold rates steady if upcoming reports reinforce this trend. While Asian shares rose 1% overall, MSCI's Asia-Pacific index outside Japan remained flat for the week, and Wall Street futures were flat as traders awaited the U.S. employment figures.
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