Asian stocks have shown a slight rise as investors become increasingly optimistic about a potential U.S. Federal Reserve interest rate cut in September. The possibility of policy easing in the U.S., coupled with a weakening euro due to French political turbulence, has set the stage for a complex financial landscape.

In France, recent elections resulted in a hung parliament, with a leftist alliance overtaking Marine Le Pen's far-right National Rally (RN) party. This unexpected outcome is viewed by investors as a mixed bag — on one hand, the far right's inability to form a government is seen as a positive, but concerns remain about the leftist coalition's plans to roll back many of President Emmanuel Macron's pro-market reforms.

The euro experienced a slight dip, falling to $1.0828 against the dollar, from a previous high of $1.0843, as the market reacted to the uncertainty in France. Investors also saw a decline in the euro against the Swiss franc and Japanese yen, highlighting the broader market apprehensions.

Despite these political concerns, equities received support from growing expectations of U.S. Federal Reserve policy easing. The MSCI broadest index of Asia-Pacific shares outside Japan rose by 0.1%, while Japan's Nikkei index gained 0.2%. However, Chinese blue-chip stocks experienced a 0.4% decline as the Chinese central bank introduced new money market operations.

U.S. stock futures showed slight downward adjustments ahead of the upcoming earnings season, with significant reports expected from financial giants Citigroup, JP Morgan, and Wells Fargo. Investors are keenly monitoring Federal Reserve Chair Jerome Powell's upcoming congressional testimony for further economic insights, particularly in light of the softened U.S. jobs report that has bolstered the case for a rate cut.

The Federal Reserve's rate cut speculation has received a boost with futures now implying a 77% chance of a rate decrease. The key U.S. consumer price report due on Thursday is expected to provide more clarity, with forecasts indicating a slight easing in inflation. Additionally, Federal Reserve officials are set to present their economic outlooks throughout the week.

In the commodity markets, gold remained near one-month highs at approximately $2,385 per ounce, while oil prices experienced slight fluctuations. Brent crude added 22 cents to reach $86.76 a barrel, while U.S. crude rose by 2.0 cents to $83.18 per barrel, driven by strong summer fuel demand and potential supply disruptions from Gulf of Mexico hurricanes.

The Asian market movements were echoed in other parts of the globe. Japanese stocks, particularly semiconductor shares, surged, with the Nikkei index hitting a fresh record high. This optimism is further supported by the positive employment data in Japan.

In Europe, the market outlook is cautious, as indicated by a slight drop in Eurostoxx 50 futures by 0.3%, while the FTSE remained flat. The U.S. markets closed at record highs with S&P 500 and Nasdaq futures showing moderate gains, driven by hopes that Powell's economic stance may lead to favorable rate cuts.

Overall, the global financial markets are meticulously watching the developments in the U.S. and Europe. The anticipation of policy easing in the U.S. is providing a buffer against the apprehensions stemming from French political uncertainty. Investors remain focused on the upcoming economic indicators and the guidance provided by Federal Reserve officials to navigate this period of mixed signals.