Tech Rally Rolls On as Oil Nears $100 and Markets Eye US CPI

The global financial markets continued their upward trend, driven by strong job creation in the US. The country's economy added 162,000 jobs in August, exceeding expectations and solidifying the dollar's position.

The unemployment rate remained at 4.1%, while the labour force participation rate increased to 61.6% from 61.4%. This has pushed rate expectations for September back to a coin toss, erasing any dovish pricing seen after Fed Governor Christopher Waller's recent comments on rates and inflation.

The market is now looking ahead to this week's key events: the ECB decision on Thursday and Friday's US CPI release. The European Central Bank is widely expected to raise its benchmark rate by 25 basis points, while the US inflation data will provide crucial insights into the Fed's next move.