Asian Stocks Hit Record High as Dollar Firms After Stronger US Jobs Data; Focus Shifts to Friday Inflation Print

Asian equities climbed to fresh record highs on Thursday, while the U.S. dollar edged higher after stronger-than-expected U.S. employment data reinforced the view that the Federal Reserve may not rush into early rate cuts.

In markets, the firmer jobs figures reduced the odds of a “quick” easing cycle and helped support U.S. yields, which in turn lent the dollar a modest lift against major peers.

With the rate path back in focus, investors are now turning their attention to the next major catalyst: the U.S. inflation release scheduled for Friday, which could reshape expectations for when and how fast the Fed might ease.

What markets are watching next

• Friday inflation data: whether price pressures cool enough to revive near-term cut hopes.
• Rate pricing: shifts in futures implied probabilities for Fed meetings ahead.
• Dollar direction: follow-through strength if yields remain supported.
• Equity risk appetite: whether record levels hold as macro uncertainty persists.