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Asian oil prices surged Friday as global benchmark Brent eyed its first weekly gain in three weeks, driven by rising demand and a weaker US dollar.
On Wednesday, Wall Street's key indexes hit records. S&P 500 and Nasdaq 100 rose over 1%, led by tech stocks posting a good CPI report.
March's CPI surged to 3.5%, led by higher housing and energy expenses, dimming prospects for imminent Fed rate cuts.
The yen briefly rebounded after plummeting to 160 at the end of April, but fell again in less than a week, causing market concerns.
Gold prices stabilized as US producer prices soared in April, while the US dollar and Treasury yields retreated.
Asian shares hovered around 15-month highs on Tuesday. Japan's Nikkei was flat as the10-year JGB yield edged closer to 1%.
The Canadian dollar slipped Monday after a modest weekly gain. Strong Canadian job data and weak US numbers boosted the loonie.
FTSE China A50 Index was flat Friday, aiming for a fourth straight weekly gain. It hit a high since mid-September this week, after underperforming last year.
The Swedish Krona fell for the third straight day after Riksbank cut its key interest rate. More cuts may follow if price pressures stay mild.
The rapid post-epidemic recovery spurred a brief commodities bull market. High inflation expected for years will benefit the commodity market.
Sterling declined Wednesday as the BOE is likely to keep rates steady and signal confidence in inflation trends at Thursday's meeting.
The Australian dollar was nearing its peak on Tuesday. Inflation slowed to 3.6% in April but is unlikely to fall to the 2-3% target until 2025.
Global stocks cheered softer-than-expected US jobs data. Britain's FTSE 100 hit a record high on Friday and marked its second straight week of gains.
Nonfarm payrolls rose by 303,000 in March, surpassing expectations of 200,000 and February's revised 270,000 gain, per the BLS.
