Asian shares edged higher as investors hoped China's COVID restrictions would ease.
Markets lost some momentum late last week after November's robust U.S. payrolls report challenged hopes for a less aggressive Federal Reserve, though Treasuries still ended last week with solid gains.
"The combination of labour market resilience with sticky wage inflation adds to the risk that the Fed will deliver a higher than 5% rate forecast at its upcoming meeting and that Chair Jerome Powell's press conference will shift to more open-ended guidance regarding any near-term ceiling on rates."The Fed meets on Dec. 14 and the ECB the day after. Speaking on Sunday, French central bank chief Francois Villeroy de Galhau said he favoured a hike of half a point next week.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China Loosens Covid Restrictions as Public Anger SimmersLocal authorities across China are paring back some Covid-19 control measures, just days after protests against a zero-tolerance approach that has kept the country largely isolated for years
Read more »
Zero Patience for Zero-Covid in China - CNN One Thing - Podcast on CNN AudioChina has signaled it may adjust some aspects of its strict zero-Covid policy following a massive show of defiance in cities across the country, with some openly calling for the removal of Chinese leader Xi Jinping. We examine the financial and psychological ramifications of the restrictions and look at whether the protests could force more change. Guest: Selina Wang, CNN International Correspondent
Read more »
Oil rises after OPEC+ holds targets, China eases COVID curbsOil prices inched up in early trade after OPEC+ nations reaffirmed their oil output targets ahead of a European Union ban and price caps on Russian crude, which kick off on Monday.
Read more »
Demonstrators take to streets of NYC in solidarity with COVID-19 lockdown protests in ChinaThere was a rally in the city on Sunday in solidarity with mass anti-government protests in China. Dozens gathered in Washington Square Park calling on China to ease up on its strict COVID-19 lockdown measures.
Read more »
China loosens more Covid curbs as easing gathers paceChina's biggest cities have begun easing coronavirus restrictions as Beijing looks to make its zero-Covid policy more targeted amid an economic slowdown and public frustration that has boiled over into unrest.
Read more »