SHANGHAI, Jun 8 (SMM) — This is a roundup of global macroeconomic news last night and what is expected today.

The dollar edged lower on Monday as Treasury yields were moribund and investors looked ahead to European and U.S. central bank meetings.

Friday’s U.S. jobs data had put pressure on the dollar as investors bet that jobs growth was not strong enough to raise expectations for the U.S. Federal Reserve to tighten its monetary policy.

That move continued on Monday, with Treasury yields remaining subdued after Friday’s drop, reducing demand for the U.S. currency.

The dollar index was down 0.21% at 89.946 while the euro gained 0.23% to $1.2194. The dollar also fell 0.23% to 109.26 Japanese yen.

Benchmark 10-year Treasury yields were last at 1.569%. They fell to 1.560%, from 1.628%, on Friday.

On Wall Street, stock futures are flat in overnight trading Monday after the Dow and S&P 500 each started the week lower.

Futures on the Dow Jones Industrial Average fell 18 points, or 0.05%. S&P 500 futures ticked 0.01% higher and Nasdaq 100 futures added 0.09%.

The Dow fell 126 points, or 0.36%, in the regular session Monday for its worst daily performance since May 19. The S&P 500 dipped 0.08%, and a losing materials sector — down 1.2% — weighed on the market.

The Nasdaq Composite edged 0.5% higher on Monday, boosted by shares of Biogen. The biopharmaceutical stock surged 38% after the FDA approved its groundbreaking Alzheimer’s drug.

Oil prices dipped on Monday after touching two-year highs reached on expectations of improved demand and OPEC producers keeping supply curbs in place.

Prices pulled back early in the session after Chinese data showed the nation’s crude oil imports fell to a year’s low in May, analysts said.

Brent crude hit $72.27 a barrel, its highest since May 2019, but settled 40 cents lower at $71.49 per barrel.

US West Texas Intermediate touched $70 for the first time since October 2018, but settled 39 cents, or 0.56%, lower at $69.23 per barrel.

Gold held on to gains as the dollar slid on Monday, with investors awaiting U.S. inflation data later this week for clarity on when the Federal Reserve might start tapering economic support measures.

Spot gold rose 0.3% to $1,895.77 per ounce by 01:42 p.m. EDT (1742 GMT). U.S. gold futures settled up 0.4% at $1,898.80.

Gold rose over 1% on Friday after a weaker-than-expected U.S. monthly jobs report calmed fears about the Fed reining in monetary stimulus in the near future.

While gold is pretty bullish, U.S. Treasury Secretary Janet Yellen’s comments are keeping a lid on prices, said Bob Haberkorn, senior market strategist at RJO Futures.

European stocks closed slightly higher Monday, despite fears over rising inflation.

The pan-European Stoxx 600 index ended the session up about 0.2%. Autos shares were the best performers, climbing 0.9%, while basic resources were the laggards, slipping 1.6%.

Investors around the world are looking ahead to the release of key U.S. inflation data on Thursday.

IWG sank to the bottom of the pan-European benchmark after warning of a sharp drop in profits.