SHANGHAI, Apr 12 —This is a roundup of global macroeconomic news last night and what is expected today.

The dollar held just below two-year highs against a basket of currencies on Monday, still supported by higher U.S. Treasury yields, while the euro rallied after French leader Emmanuel Macron beat far-right challenger Marine Le Pen in the first round of presidential voting.

U.S. Treasury yields have soared on expectations of more aggressive tightening by the Federal Reserve, boosting the greenback. Benchmark 10-year note yields reached 2.793% on Monday, the highest since January 2019.

But the euro looked set to snap a seven-day losing streak against the U.S. currency, rising 0.14% to $1.0889. The U.S. dollar index was last at 99.92, after reaching 100.19 on Friday, the highest since May 2020.

U.S. stock futures inched higher in overnight trading as investors braced for a key inflation report Tuesday.

Futures on the Dow Jones Industrial Average gained 40 points or 0.1%, while S&P 500 futures and Nasdaq 100 futures rose marginally higher.

The overnight moves come as investors await the release of March’s highly anticipated consumer price index on Tuesday. The data is expected to show an 8.4% annual increase in prices — the highest level since December 1981 — according to economists polled by Dow Jones, with rising food costs, rents and energy prices expected as the main contributors to the spike.

Oil prices slid Monday, falling to the lowest level since February and building on two straight weeks of declines as lockdowns in China sparked demand fears.

International benchmark Brent crude fell 4.18% to end the session at $98.48 per barrel, the first settle under $100 since March 16. West Texas Intermediate crude futures declined 4.04% to settle at $94.29. During the session the contract traded as low as $92.93, a price not seen since Feb. 25.

Spot gold was up 0.1% at $1,947.80 per ounce after hitting its highest since March 14 at $1,968.91. U.S. gold futures settled up 0.1% at $1,948.2.

Gold gave up some gains after Chicago Federal Reserve President Charles Evans signalled he would not oppose getting interest rates up to a neutral setting, which would require a couple of 50 basis-point rate hikes at the central bank’s upcoming meetings.

The pan-European Stoxx 600 closed down by 0.7%, with tech stocks sliding 2% to lead losses as most sectors and major bourses finished in negative territory.

Societe Generale led broad gains for the European banking sector, climbing nearly 5% after agreeing to sell its stake in Russia’s Rosbank and the group’s Russian insurance subsidiaries to Interros Capital, ceasing all activities in Russia.