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

The dollar was supported against safe-haven currencies such as the Japanese yen on Tuesday, hanging on to an overnight jump made with U.S. yields as investors hoped early signs the omicron variant may be mild will be proved correct.

Riskier currencies have also found buyers and the Australian dollar firmed into a central bank meeting that will determine whether or not the Reserve Bank of Australia (RBA) follows the Federal Reserve with talk of early tapering.

The Aussie had its best day in seven weeks on Monday, rising 0.7%, and hovered around $0.7040 on Tuesday ahead of the RBA at 0330 GMT. The RBA already abandoned its yield target last month, so any further shift in policy or tone will surprise traders.

U.S. stock futures were steady in overnight trading on Tuesday after stocks continued their upward climb from the omicron sell-off.

Dow futures rose 20 points. S&P 500 futures gained 0.1% and Nasdaq 100 futures rose 0.12%.

On Tuesday, the S&P 500 and Nasdaq Composite posted their best days since March. The Dow Jones Industrial Average rallied 492 points helped by gains in Apple, Salesforce and American Express. The S&P 500 also registered a gain, climbing 2.1%. The tech-focused Nasdaq Composite was the stand-out performer after gaining more than 3%.

Oil prices climbed by more than 3% on Tuesday, extending the previous day’s rebound of almost 5% as concerns eased further about the impact on global fuel demand of the Omicron coronavirus variant.

Brent crude futures settled up $2.36, or 3.2%, at $75.44 a barrel, after Monday’s rise of 4.6%. U.S. West Texas Intermediate crude rose $2.56, or 3.7%, to $72.05, building on a 4.9% gain the previous session. At the session highs on Tuesday, each contract was up more than $3.

Oil prices tumbled last week on concerns that vaccines might be less effective against the new Omicron variant, sparking fears that governments could impose fresh restrictions that would sink fuel demand.

Gold prices were flat on Tuesday, as a firmer dollar and U.S. Treasury yields weighed on its appeal and confined the metal to a tight $4 range.

Spot gold was little changed at $1,778.79 per ounce by 0130 GMT. U.S. gold futures were flat at $1,780.00.

In Hong Kong, Chinese social media giant Weibo is set to make its market debut on Wednesday, in what would be its secondary listing at an offer price of $272.80 Hong Kong dollars ($34.98) per share. Its main listing is on the Nasdaq. This comes as Chinese ride-hailing giant Didi says it will start delisting from the New York Stock Exchange, and make plans to list in Hong Kong instead.

The pan-European Stoxx 600 ended the day up 2.5%, with tech stocks rallying 5.6% to lead gains as all sectors and major bourses traded firmly in positive territory.

The strong session for European stocks comes after the region moved higher on Monday and global markets rallied, with concerns about the potential severity of the omicron variant easing.