SYDNEY: Australian shares and U.S. stock futures inched higher on Monday as the flow of economic news remained generally supportive for global growth, while political uncertainty caused some early ructions in currencies.
Liquidity was lacking with Japan and South Korea on holiday and a partial holiday in the United States where stocks will be open but bonds will be closed. Chinese markets are set to re-open after a week-long break.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent, having rebounded by 1.7 percent last week. Australian stocks also put on 0.45 percent.
Nikkei futures added 0.1 percent even though the cash market was shut. E-Mini futures for the S&P 500 were trading 0.07 percent firmer, while futures for the Treasury 10-year note rose 1 tick.
Yields had initially spiked higher on Friday in reaction to firm U.S. wage numbers, only to retreat as fresh jitters over North Korea bolstered safe havens. [US/]
Annual growth in average hourly earnings accelerated to a relatively rapid 2.9 percent in September, though that was biased upward by bad weather.
The gain outweighed a 33,000 drop in nonfarm payrolls as hurricanes Harvey and Irma left displaced workers temporarily unemployed and delayed hiring.
The pick up in wages boosted already high expectations that the U.S. central bank will raise rates at its December meeting, and that further hikes are likely in 2018.
Minutes of the Federal Reserve's last meeting are due on Wednesday and may well show enough support for a move by year end. A host of Fed speeches are also due this week.
In currency markets, the dollar was a shade softer at 93.738 <.DXY> against a basket of competitors. It also edged down to 112.52 yen
The euro was a fraction firmer at $1.1742
Catalan leader Carles Puigdemont is expected to address the region's parliament on Tuesday, when he could unilaterally declare independence.
Another early mover was the Turkish lira
The U.S. mission in Turkey and subsequently Turkish mission in Washington mutually reduced visa services after a U.S. mission employee was detained in Turkey last week.
The pound popped higher on reports British Prime Minister Theresa May could sack Foreign Secretary Boris Johnson as she tries to reassert her authority after a series of political disasters.
Sterling had been undermined by speculation that May herself could be ousted ahead of crucial Brexit talks between Britain and the EU. The initial spike could not be maintained, however, and the pound soon steadied around $1.3083
The New Zealand dollar
In commodity markets, gold held at $1,276.45 an ounce
Oil prices were little changed after losses last week put paid to a five-week winning streak amid concerns of over supply.
Brent futures
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