A slowdown in hiring and small uptick in unemployment is forecast, would leave open the door for US rate cuts
Markets are well prepared for a change given opinion polls have for months put the centre-left party on course for a landslide victory over the Conservatives
US stocks on Friday ended lower after an early rally fizzled
Shares in bellwether chipmaker Micron Technology slid 8 per cent in US after-hours trade as it met rather than topped lofty revenue expectations. Japan's Nikkei fell 1 per cent.
Risk sentiment was also capped as hawkish comments from Federal Reserve officials kept near-term US rate cut expectations in check in a boost to the dollar
Oil prices were flat for the day. Brent futures held at $85.95 a barrel while US crude was little changed at$81.60 a barrel
Desire to make an Asia for Asians, without the overbearing influence of the West, is not new
Asian shares were mostly lower Monday after US stocks coasted to the close of their latest winning week on Friday, even as Nvidia's stock cooled further from its startling, supernova run. US futures and oil prices dropped. In Tokyo, the Nikkei 225 index rose 0.7 per cent to 38,869.94, making it the sole major benchmark in Asia to post gains on Monday. The yen weakened to 159.93 per dollar during morning trading. Minutes of the Japanese central bank's last policy meeting released Monday put the yen under renewed pressure as it indicated that Any change in the policy interest rate should be considered only after economic indicators confirm that, for example, the CPI inflation rate has clearly started to rebound and medium-to long-term inflation expectations have risen. Meanwhile, it was reported that Masato Kanda from the Minister of Finance said officials are ready to intervene to support the currency at any time. Elsewhere, Hong Kong's Hang Seng dropped 1.2 per cent to 17,815.42,
Apart from the BoE, investors will also watch out for central bank decisions from Switzerland and Norway on Thursday to set the tone for global rates outlook
Japan's Nikkei rose 0.59%, while blue chip stocks in China were 0.42% lower. Hong Kong's Hang Seng index rose 1.3%
The main market focus in Asian hours on Tuesday was on the Reserve Bank of Australia's (RBA) policy decision, where expectations are for the central bank to stand pat on rates
There was also talk the People's Bank of China (PBOC) could cut a key lending rate by 10 basis points, in part due to surprisingly weak bank lending data released on Friday
The dollar was hovering near a one-month high on the back of the hawkish tone from the Fed this week
S&P 500 futures and Nasdaq futures both eased 0.1 per cent in Asian trading, after edging higher on Monday
The European Central Bank (ECB) delivered a well-telegraphed rate cut on Thursday, a day after the Bank of Canada became the first G7 nation to trim its key policy rate
In Europe, investors expect the European Central Bank on Thursday to cut the benchmark rate by 25 basis points to 3.75 per cent
Japan's Nikkei, on the other hand, slipped 0.3 per cent, reversing some of the 0.7 per cent advance a day ago
Holidays in the United States and UK made for thin trading ahead of Friday's figures on core personal consumption expenditures
New Zealand's central bank offered a sobering assessment of its inflation problems, warning that rates would have to be higher
Japan's Nikkei was a rare bright spot, rising 0.2%, adding to the previous day's 0.73% rally