Dollar steady as markets watch Iran conflict and U.S. jobs data
The U.S. dollar held near 99.05 on Monday after losing 0.4% last week, as investors focused on Middle East developments and upcoming U.S. economic data.
The euro slipped 0.13% to $1.1644, while the yen weakened to 159.48 per dollar. Oil prices rose on renewed geopolitical tensions, with Brent crude up 2.1% to $93.02 a barrel.
Markets are now looking ahead to Friday’s U.S. jobs report, which is expected to show 85,000 new jobs in May and an unemployment rate of 4.3%. Strong data could strengthen expectations that the Federal Reserve may keep rates higher for longer.
Bond markets brace for Fed signals
Treasury yields remain elevated as traders reassess the outlook for U.S. interest rates. The 10-year Treasury yield is near 4.44%, while inflation remains above the Fed’s 2% target, supporting expectations that rate cuts may stay off the table.
Nvidia expands into AI PCs
Nvidia unveiled its new RTX Spark Superchip, marking its entry into the Windows PC processor market. The chip features up to 20 CPU cores and 6,144 GPU cores, targeting AI-powered laptops and desktops launching later this year.
Japan stocks hit new record
Japan’s Nikkei 225 rose above 67,000 for the first time, gaining 1.1%. The rally was driven by AI-related stocks, with SoftBank jumping 10.3% and overtaking Toyota as Japan’s most valuable company with a market value of about $296 billion.
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