Asian Stocks to Climb as Risk Sentiment Rebounds: Markets Wrap

-- Asian stocks are set to follow their US peers higher after American consumers tempered inflation expectations, bolstering sentiment the Federal Reserve may have room to cut rates this year.Yellen Says Higher Path for Rates Boosts Need to Lift Revenue

Traders will closely watch a speech from Bank of Japan Governor Kazuo Ueda Monday for clues on the outlook for the central bank’s policy as markets price a chance of another rate hike this year. The yen fluctuated around 157 per dollar on Friday as Japan’s top currency official reiterated his stance to take steps against excessive moves.

“A firmer Eurozone reading will not deter expectations for rate cut on June 6,” said Marc Chandler, chief market strategist at Bannockburn Global. “Nor will a higher Tokyo print impact expectations for the BOJ.”The offshore yuan was little changed at 7.2616 per dollarWest Texas Intermediate crude rose 0.1% to $77.

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