Asian stocks rebounded on Monday after Wall Street reclaimed lost ground last week as geopolitical jitters eased.
U.S. stocks jumped on Friday on signals of reduced tensions in the Russian-Ukraine crisis and as Wall Street viewed American military moves in Iraq as limited. Friday proved the best session in five months for both the Dow Jones Industrial Average and S&P 500, which rose 1.1 and 1.2 percent respectively. The Nasdaq climbed 0.8 percent.
President Barack Obama said on Saturday U.S. airstrikes have destroyed arms that Islamic State militants could have used against Iraqi Kurds, but warned there was no quick fix to the Iraqi crisis. Over in Gaza, Israel and the Palestinians agreed on Sunday to an Egyptian proposal for a new 72-hour ceasefire in the region.
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The Australian Dollar rises on hawkish sentiment surrounding the RBA prolonging higher interest rates. Australia’s central bank is expected to maintain its current rate at 4.35% until the end of September. US Nonfarm Payrolls is expected to print a reading of 243K for April, compared to 303K prior.
EUR/USD: Optimism prevailed, hurting US Dollar demand
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Gold bears take action on mixed signals from US economy
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Bitcoin Cash could become a Cardano partnerchain as 66% of 11.3K voters say “Aye”
Bitcoin Cash is the current mania in the Cardano ecosystem following a proposal by the network’s executive inviting the public to vote on X, about a possible integration.
Week ahead: BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.