Asian Markets Rally as Investors Wait for US Inflation Data

Asian markets rallied on Monday, responding to Wall Street’s gains, while the euro gained as investors assessed the prospects for Europe if the Federal Reserve announces more big interest-rate hikes.

As of 9.39 a.m. Thai time, the Nikkei 225 in Japan gained 1.11%.

Australia’s S&P/ASX 200 also added 1.05%. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked 0.52% higher in early trade.

The stock exchanges in Mainland China, Hong Kong, and South Korea are all closed today due to holidays. Later this week, the United States will announce the August reading of its consumer price index.

The euro climbed to a more than three-week high against the dollar on Monday, and sterling hit a monthly high as European Central Bank officials pushed for rapid monetary tightening.

The euro surged as high as $1.0130 early in the Asian day before last trading 0.19%, stronger than Friday at $1.0066.

Sterling rose to $1.1681, and was last 0.24% higher at $1.1611.