Reported 11 months ago
Asian stocks fell as traders reduced expectations for Federal Reserve rate cuts due to a strong U.S. labor market, while a snap election call in France raised broader political worries, impacting the euro. Despite thin trading in Asia, MSCI's Asia-Pacific shares outside Japan dropped 0.46%. U.S. futures also dipped, with the dollar strengthening. The global risk rally paused after strong U.S. nonfarm payroll reports. Fed rate cut expectations decreased, and U.S. Treasury yields rose. The yen fell against the dollar, and in France, President Macron's call for snap elections caused uncertainty, leading to a euro decline. Oil prices slightly rebounded, and gold prices increased. These events signal concerns in both markets.
Source: YAHOO