European stocks are likely to open higher on Monday as a disappointing U.S. employment report hastened a retreat in the dollar and U.S. Treasury yields, and helped boost expectations that interest rates would remain low for longer.

Asian markets followed Wall Street higher and the dollar held near a more than two-month low versus major peers, while crude oil prices climbed after a cyber-attack on a U.S. pipeline operator. Gold edged up slightly after having hit its highest since Feb. 11 at $1,842.91 in the previous session.

The British pound jumped to the highest in more than two months against the greenback despite Scotland’s leader saying another referendum on independence was inevitable after her party’s resounding election victory.

Halifax house price data from the U.K. and investor confidence figures from the euro area are due later in the session, headlining a light day for the European economic news.

Across the Atlantic, investors await reports on consumer and producer prices, retail sales, industrial production and consumer sentiment this week for further clues about the economic recovery from the coronavirus pandemic.

U.S. stocks rose on Friday as a surprisingly weak jobs report helped increase bets that the Fed will not pull back on its easy money policies anytime soon.

Data showed non-farm payroll employment rose by 266,000 jobs in April after surging by a downwardly revised 770,000 jobs in March. The jobless rate inched up to 6.1 percent from 6.0 percent in March.

The Dow and the S&P 500 both climbed around 0.7 percent to reach new record closing highs, while the tech-heavy Nasdaq Composite gained 0.9 percent.

European markets ended Friday’s session firmly in positive territory as investors cheered some upbeat earnings announcements and Eurozone economic data.

The pan European Stoxx 600 gained 0.9 percent. The German DAX surged 1.3 percent, France’s CAC 40 index rose half a percent and the U.K.’s FTSE 100 advanced 0.8 percent.

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