Shares slip in Asia, dollar firm as inflation, earnings loom
The impact of the jobs report on U.S. rate cut prospects also raised the stakes for consumer price figures on Wednesday where any rise in the core greater than the forecast 0.2% would threaten to close the door on easing altogether.
Not helping, was a spike in oil prices to four-month highs amid signs of weaker crude shipments from Russia as Washington stepped up sanctions on the country.
Markets have already scaled back expectations for Federal Reserve rate cuts to just 27 basis points for all of 2025, with the terminal level now seen around 4.0% compared to the 3.0% many had hoped for this time last year.
«Given such strong data, we now expect the Fed to cut rates only once this year, by 25bp in June,» said Christian Keller, head of economic research at Barclays.
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