The dollar inched lower versus most of its major counterparts while Asian equity futures pointed to a cautious open to trading.
Investors will be focused Monday on Chinese interest rates and Beijing’s efforts to bolster the struggling economy, before attention shifts later in the week to a gathering of global central bankers at Jackson Hole, Wyoming.
US stocks gained some ground in the final minutes of Friday’s session in moves likely exacerbated by giant options expiration. But it wasn’t enough to prevent the S&P 500 ending unchanged and the Nasdaq 100 inching down. MSCI Inc.’s global equities benchmark notched its biggest weekly loss since the March meltdown of Silicon Valley Bank.
While concerns of an imminent recession are fading, wary investors are instead facing entrenched inflation and the prospect of more policy tightening. Elsewhere the pressure on rates is mostly upward, particularly in the US. The Treasury 10-year yield pulled back Friday from levels Thursday that were approaching the highest since 2007.
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