Bullish Start to the Week Anticipated in Markets.
Asian markets are expected to continue their upward momentum on Monday, following last week's gains and rising risk appetite. The release of forecast-smashing US jobs figures has boosted investor confidence, and the recent debt ceiling deal has averted a US default. The Asian and Pacific economic data calendar on Monday will be dominated by a raft of purchasing managers index (PMI) reports, most notably for China, Japan, India, and Australia, with Indonesian inflation thrown in for good measure. OPEC+ is looking to cut production to counter flagging prices and a looming supply glut, which could cause oil prices to spike higher. Investors in Asia have plenty of economic events and monetary policy decisions to get their teeth into this week, including inflation data from Indonesia, the Philippines, Thailand, Taiwan, and China, and revised Japanese GDP.