Asian stock markets became less volatile on Monday due to the emergence of more cases involving the Omicron variant in most countries and investors had to wait a week to get US inflation figures on the interest rate program.
The mixed U.S. jobs report did not dampen market expectations of a more aggressive tightening by the Federal Reserve (Fed) and a consumer price report to be released on Friday is likely to accelerate tapering.
Omicron continues to be a major concern after it spread to a third of the U.S. despite reports from South Africa saying the case was mildly symptomatic.
Early trading was slightly sluggish as the MSCI Asia-Pacific broad stock index outside Japan fell 0.2%.
Japan’s Nikkei is down 0.7% even as the government considers raising its economic growth forecast to generate a record $ 490 billion stimulus package.
The Wall Street market on Friday was on a downward trend with S&P 500 futures up 0.4% and Nasdaq futures up 0.1%.
Although the US average income report was less encouraging in November but the household outlook was stronger with a 1.1 million jump in employment causing unemployment to fall 4.2%.
The futures market price is almost full for an increase of 0.25% by May and 0.5% by November.
The US 10 -year yield declined 13 basis points last week and last at 1.38% has contracted in 2 years to its lowest this year.
The US dollar hit a 13 -month high on the Australian and New Zealand dollars but the index was relatively stable on key points at 96.214.
The euro remained at $ 1.1303 above the recent $ 1.1184 level while the dollar depreciated against the Yen at 112.94.
Bitcoin slipped one-fifth from its value on Saturday as concerns of profit-taking and macro-economic activity have triggered sales worth nearly $ 1 billion across the cryptocurrency.
Bitcoin was at $ 49,436 from a low of $ 41,967 recorded over the weekend.
Commodities saw gold find support from declining long -term bond yields but have been trading sideways for several months in the $ 1,720/1,870 range.
On Monday gold traded at $ 1,783 an ounce.
Brent crude oil price rose $ 1.29 at $ 71.17 a barrel while US crude oil increased $ 1.30 at $ 67.56 a barrel.
