In Asian Equity Markets stocks extended recent gains on Thursday amid growing expectations of an economic rebound in China, with focus now turning to upcoming U.S. payrolls data to determine the path of monetary policy. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7 percent, marking its third straight day of gains. Japan’s Nikkei stock index climbed 1.0 percent to its highest level since late September. South Korea advanced 1.5 percent while Australian shares reversed losses to be up 0.1 percent. Hong Kong’s Hang Seng index also trimmed earlier losses to be off 0.2 percent on the day.

In Currency Markets the dollar wobbled in a choppy Asia session on Thursday, as investors looked ahead to U.S. labour and inflation data where softness may signal an eventual slowdown in U.S. rate hikes. After rising on Wednesday, the greenback struggled to hold the gains and fell 0.4 percent to $0.9922 per euro and 0.3 percent against sterling. The risk-sensitive Australian and New Zealand dollars gained more than 0.5 percent to lift the Aussie over $0.65 and the kiwi to a two week high above $0.58. The U.S. dollar index wobbled 0.08 percent lower to 110.84.

In US Equity Markets stocks closed lower on Wednesday, unable to sustain a late-day surge, after data showing strong U.S. labor demand again suggested the Federal Reserve will keep interest rates higher for longer. The Dow fell 0.14 percent, to 30,273.87, the S&P 500 lost 0.20 percent, to 3,783.28 and the Nasdaq Composite fell 0.25 percent, to 11,148.64. Twitter Inc lost momentum in line with its peers, a day after rising 22 percent on billionaire Elon Musk’s decision to proceed with his original $44-billion bid to take the social media company private.

In Commodities Markets oil prices rose on Wednesday to three-week highs, as OPEC+ agreed to its deepest cuts to production since the 2020 COVID pandemic, despite a tight market and opposition to cuts from the United States and others. Brent crude rose 1.7 percent, to settle at $93.37 a barrel. U.S. West Texas Intermediate (WTI) crude rose 1.4 percent, to settle at $87.76 a barrel. Spot gold was down 0.8 percent at $1,712.93 per ounce. Spot silver fell 2.7 percent to $20.54 per ounce. Platinum fell 1.5 percent to $915.97 per ounce, and palladium fell 2.8 percent to $2,250.67.

In European Equity Markets stocks fell on Wednesday, snapping a three-day rally as investors tempered expectations of central banks toning down their hawkish stance on inflation, with declining business activity in the region fuelling fears of an economic downturn. After rallying more than 5 percent in the previous three sessions, the pan-European STOXX 600 index was down 1 percent as a sharp rate hike from New Zealand’s central bank on Wednesday jolted investors and weighed on risk sentiment. London’s blue-chip FTSE 100 was off 0.5 percent while the more domestically oriented FTSE 250 was down 1.5 percent.

In Bond Markets the yield on the benchmark U.S. 10-year Treasury note jumped on Wednesday after two straight days of declines, as economic data failed to buttress recent hopes the U.S. Federal Reserve might adopt a less hawkish policy stance. The yield on 10-year Treasury notes was up 14.4 basis points to 3.761 percent, on track for its biggest one-day jump since Sept. 26. The yield on the 30-year Treasury bond was up 8.1 basis points to 3.768 percent. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 5.7 basis points at 4.154 percent.