Asian shares edged higher on Monday after data showed the U.S. unemployment rate...
TOKYO - Asian shares edged higher on Monday after data showed the U.S. unemployment rate dropped to the lowest in almost 50 years, easing concerns of a slowdown in the world’s largest economy.
There was no onshore yuan trading, as Monday is the last day of a long China holiday for its national day.Crude oil futures extended declines in a sign that investors remain cautious about a resolution to the trade dispute. “Moderate job growth and subdued inflation in the United States is a positive for stocks,” said Shusuke Yamada, head of FX and Japan equity strategy at Merrill Lynch Japan Securities in Tokyo.
The United States and China have slapped tariffs on each other’s goods as part of a long-running dispute over Beijing’s trading practices, which Washington says are unfair.The Federal Reserve has lowered interest rates twice this year. Before the jobs report, traders saw a 85.2% chance the Fed will cut rates by 25 basis points to 1.75%-2.00% this month, but that chance has now fallen to 81.1%, according to CME Group’s FedWatch tool.
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