(May 31): US futures edged up on Monday and Asian stocks were expected to start steadily as investors continued to weigh inflation risks and waited for key US jobs data to assess the strength of economic recovery.

Stock contracts were little changed in Japan, Australia and Hong Kong after US stocks marked their fourth consecutive monthly advance. Yields on Treasuries fell below 1.60% on Friday. There is no spot trading in Asia during the US and UK holidays

The offshore yuan slipped following strong comments against its rise. The currency’s rapid appreciation against the US dollar is unlikely to last, a former Chinese central bank official said, while the Financial News, backed by the People’s Bank of China, said in an editorial on Sunday that the yuan could depreciate in the future.

Bitcoin has fluctuated around US $ 36,000, following a drop on Friday as Bank of Japan Governor Haruhiko Kuroda warned of token volatility and speculative trading.

Global stocks remain close to a record high, supported by the economic recovery underway after the pandemic and injections of stimulus measures. The rally has so far overcome fears that price pressures could lead to an earlier-than-expected reduction in central bank support. But investors remain risk-sensitive, and this week’s US non-farm payrolls report could shake markets if it changes perceptions of the strength of the rebound.

“There are probably more advantages to going on the inflation fear front in the coming months, as the base effects, the delayed impact of commodity price hikes and bottlenecks continue to reverberate, but there are now some additional signs that it will be transient, “Shane Oliver, chief investment officer and chief economist at AMP Capital, wrote in a note.

Here are the main events to watch for this week:

US markets will be closed for the Memorial Day holidays. UK markets will be closed for spring break
Reserve Bank of Australia policy decision Tuesday
OPEC + meets to review oil production levels on Tuesday
Philadelphia Fed Chairman Patrick Harker, Chicago Fed Chairman Charles Evans, Atlanta Fed Chairman Raphael Bostic and Dallas Fed Chairman Robert Kaplan speak Wednesday
US Employment Report for May Friday

Here are some of the main movements in the markets:
Stocks

Futures on S&P 500 rose 0.1% at 7:35 a.m. in Tokyo. The S&P 500 rose 0.1% on Friday
Nasdaq 100 contracts climbed 0.2%. The Nasdaq 100 is up 0.2%
Nikkei 225 futures fell 0.1%
Australian S & P / ASX 200 index futures rose 0.1%
Hong Kong Hang Seng index futures rose 0.3% earlier

Currencies

The Japanese yen was at 109.85 per dollar
The offshore yuan was at 6.3679 per dollar, down 0.1%
The euro was little changed at US $ 1.2193

Obligations

The yield on 10-year treasury bills fell one basis point to 1.59% on Friday
Australian 10-year bond yields held steady at 1.68%

Basic products

West Texas Intermediate crude rose 0.5% to US $ 66.62 per barrel
Gold was at $ 1,903.74 an ounce