Global Markets Rebound on Strong US Jobs Report, Rate Hikes Loom

Global markets are experiencing uncertainty as central banks raise interest rates to combat inflation. On Monday, Asian shares surged due to a robust U.S. jobs report, but this optimism also increased expectations for further rate hikes.

The jobs report showed strong growth projections, which boosted oil prices. Brent crude rose 0.2% to $96.45 a barrel as tensions between the U.S. and Iran in the Gulf escalated, with Tehran planning to announce a restricted zone outside the Strait of Hormuz.

European markets were cautious ahead of the European Central Bank's upcoming decisions on interest rates. The focus is also shifting to the U.S. consumer price index report, expected this Friday.