SHANGHAI, Aug 2 —This is a roundup of global macroeconomic news last night and what is expected today.

The U.S. dollar was at its lowest level since mid-June against the Japanese yen on Monday as investors weighed the likelihood that the Federal Reserve will not raise interest rates as aggressively as some had expected.

The U.S. dollar index was volatile after data showed U.S. manufacturing activity slowed less than expected in July. But a key report for investors this week will be the U.S. jobs report on Friday.

The dollar index is up about 10% for the year so far following investor expectations of aggressive Fed rate hikes.

Stock futures were flat in overnight trading after a new month of trading kicked off for the markets.

Shares of Pinterest soared more than 21% in extended trading despite disappointing results after Elliott Management revealed it’s the largest investor in the social media company.

Futures tied to the Dow Jones Industrial Average inched 0.3%, or 10 points lower, while S&P 500 futures and Nasdaq 100 futures dipped 0.04% and 0.01%, respectively.

The after-hours moves came as stocks slipped during the first regular trading day of August after all the major averages finished their best month since 2020. The S&P 500 shed 0.28% to end at 4,118.63 while the Nasdaq Composite inched 0.18% lower and closed at 12,368.98. The Dow Jones Industrial Average slipped 46.73 points, or 0.14%, to end at 32,798.40.

Seven S&P sectors ended Monday’s session in the negative, led by energy which dropped more than 2% as oil prices dipped. Consumer staples closed up 1.2% higher on the day.

Oil prices dropped sharply on Monday as weak manufacturing data from China and Europe weighed on the demand outlook while investors braced for this week’s meeting of officials from OPEC and other top crude producers on supply.

Brent crude futures settled $3.94, or 3.79%, lower at $100.03 per barrel.

U.S. West Texas Intermediate crude ended the day at $93.89 per barrel, for a loss of 4.8% or $4.73.

Gold neared a one-month high on Monday on the back of a decline in the U.S. dollar, with investors awaiting economic data that could influence the path of Federal Reserve policy tightening.

Spot gold was up 0.37% at $1,771.71 per ounce, having earlier hit its highest since July 5 at $1,774.95. U.S

The pan-European Stoxx 600 slipped 0.2% below the flatline, with oil and gas shares losing 1.6% to lead the losses while banks rose 0.9%.