Friday’s Nonfarm Payrolls data was much stronger than expected. The data showed that 321,000 jobs were created over the past month, much above the expected 225,000. Figures pushed markets higher but gains were limited as the data also fueled expectations that the Federal Reserve could hike interest rates sooner than expected.

Asian markets climbed across the region. The Nikkei finished with small gains of 0.08% as the Dollar continued to climb against the Yen, reaching levels not seen since 2007 and climbing above the key psychological level at 120. Gains were limited, however, due to a range of negative data out of Japan.

European markets are lower today as the data from Asia heightens fears over global growth.

Oil continues to decline as the U.S Dollar strengthens. Weak data out of Asia lowered demand for the commodity and pushed prices lower. This came after Saudi Arabia cut its export prices to Asia and the US late last week.

Gold dropped following the strong NFP data but has since regained some of its losses. The market is now weighing up the potential increase in US interest rates against stimulus measures in Europe and Asia. As there are no important economic events today the metal is expected to trade choppy.

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