In Asian Equity Markets stocks markets rose on Monday amid growing expectations that the Federal Reserve will slow its pace of interest rate hikes, while Chinese stocks lagged after the country reiterated its commitment to maintaining strict COVID-related curbs. China’s blue-chip Shanghai Shenzhen CSI 300 index and the Shanghai Composite index fell 0.1 percent each in volatile trade. South Korea’s KOSPI index rose 0.8 percent, while the Taiwan Weighted index jumped 1.5 percent. Japan’s Nikkei 225 index added 1.3 percent.

In Currency Markets the dollar firmed on Monday as sentiment soured after China said it is sticking with its strict COVID restrictions, quashing hopes of an imminent reopening in the world’s second-largest economy which had earlier fired a broad rally in riskier assets. Elsewhere, sterling edged 0.3 percent lower to $1.1340, while the euro fell 0.1 percent to $0.9949, erasing some of their roughly 2 percent jump on Friday. The Aussie was last down 0.7 percent at $0.6426, while the kiwi fell 0.6 percent to $0.5893. The U.S. dollar index last stood at 111.02. It had lost almost 2 percent at the end of last week.

In US Equity Markets stocks closed higher on Friday in volatile trade to snap a four-session losing streak as investors wrestled with a mixed jobs report and comments from Federal Reserve officials on the pace of interest rate hikes. The Dow rose 1.26 percent, to 32,403.22, the S&P 500 gained 1.36 percent, to 3,770.55 and the Nasdaq Composite added 1.28 percent, to 10,475.25. Starbucks Corp jumped 8.48 percent after it topped Wall Street estimates for quarterly comparable sales and profit, while DoorDash Inc’s revenue beat boosted the food delivery firm’s shares by 8.32 percent.

In Commodities Markets oil prices settled up by more than 5 percent on Friday amid uncertainty around future interest rate hikes by the U.S. Fed, while a looming EU ban on Russian oil and the possibility of China easing some COVID restrictions supported markets. Though fears of global recession capped gains, Brent crude futures settled up $3.99 to $98.57 per barrel. U.S. WTI crude futures were up 5 percent, at $92.61. Spot gold rose nearly 3 percent to $1,677.67 per ounce. Silver rose 6.9 percent to $20.80 per ounce. Platinum rose 4.3 percent to $957.97, while palladium was up 3.8 percent at $1,869.62.

In European Equity Markets stocks rallied on Friday after U.S. jobs data backed bets the Federal Reserve would deliver smaller rate hikes, with hopes of easing COVID-19 curbs in China boosting mining and luxury stocks. The STOXX 600 closed 1.8 percent higher, with basic resources, personal & household goods and automakers leading a broad rally. Luxury giants including LVMH, Kering, Pernod Ricard and Hermes International, which have a large exposure to China, climbed between 3.7 percent and 7.1 percent.

In Bond Markets treasury yields were mixed on Friday after government data showed U.S. payrolls increasing more than expected in October, but a slower pace of job growth spurred market hopes the Federal Reserve could downsize its interest rate hikes in December. The yield on 10-year notes rose 4.7 basis points to 4.171 percent, while the two-year yield, which typically moves in step with interest rate expectations, was down 3 basis points at 4.671 percent. The 30-year yield rose 9.6 basis points to 4.249 percent.