Market Uncertainty: Global Shares Rebound Amid Rising Central Bank Rate Hikes

Asian shares surged as a strong U.S. jobs report suggested positive global growth prospects, though increased the likelihood of central bank interest rate hikes. Oil prices rose after U.S.-Iran conflicts in the Gulf. European markets remained cautious ahead of ECB decisions, while focus shifts to U.S. CPI data.

On Monday, Asian shares surged as a robust U.S. jobs report buoyed global growth projections. However, this optimism also heightened expectations for central bank rate hikes.

Oil prices increased due to rising tensions between the U.S. and Iran in the Gulf, with Tehran planning to announce a restricted zone outside the Strait of Hormuz. Brent crude inched up 0.2% to $96.45 a barrel.

European markets were cautious as they awaited the European Central Bank's upcoming decisions on interest rates, while focus shifted to the U.S. consumer price index report, anticipated on Friday.