SHANGHAI, Sep 13 —This is a roundup of global macroeconomic news last night and what is expected today.

The dollar fell to its lowest level in more than two weeks against a basket of currencies on Monday following recent strong gains, as investors grew nervous ahead of U.S. inflation data and as central banks outside of the United States appeared increasingly hawkish.

The euro climbed to more than a three-week high against the dollar, with European Central Bank officials arguing for further aggressive monetary tightening.

Strategists said the release on Tuesday of the monthly U.S. consumer price index report will be closely watched for clues on how aggressive the Federal Reserve may need to be in hiking interest rates next week to fight high inflation.

The dollar index, which measures the currency against six major counterparts, has been strengthening on expectations of an aggressive Fed and reached a two-decade peak of 110.79 last Wednesday. On Monday, it was down 0.63% on the day at 108.31 after hitting its lowest since Aug. 26.

Stock futures rose Monday night as investors waited for Tuesday’s consumer price index report, an important inflation data point ahead of the Federal Reserve’s September meeting.

Dow Jones Industrial Average futures gained 24 points, or 0.07%. S&P 500 and Nasdaq 100 futures climbed 0.09% and 0.16%, respectively.

U.S. stocks rose Monday, continuing a relief rally that began last week when all three major averages snapped three-week slumps. The Dow Jones Industrial Average gained nearly 230 points, or 0.7%. The S&P 500 rose close to 1.1%, and the Nasdaq Composite added about 1.3%.

Investors’ confidence has been bolstered by the belief that inflation has already peaked. A weaker dollar and military success in Ukraine also supported stocks.

On Tuesday, all eyes will be on the August CPI report, which is expected to show a 0.1% decrease in headline inflation on a monthly basis, according to estimates from Dow Jones.

Oil prices rose on Monday as Iranian nuclear talks appeared to hit obstacles and an embargo on Russian oil shipments loomed, with tight supply struggling to meet still robust demand.

Brent crude futures ended the day at $94 per barrel, for a gain of 1.25%. U.S. West Texas Intermediate crude settled 99 cents, or 1.1%, higher at $87.78 per barrel.

Prices were little changed last week as gains from a nominal supply cut by the Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+, were offset by lockdowns in China, the world’s top crude importer.

Gold jumped 1% and silver rallied over 6% on Monday bolstered by a weaker dollar, while investors awaited key inflation data for cues on the pace of interest rate hikes by the U.S. central bank.

Spot gold last rose 0.49% to $1,724.386 per ounce. U.S. gold futures also gained 0.42% to $1,735.80.

The pan-European Stoxx 600 provisionally ended up 1.8%, with retail stocks jumping 4.5% to lead gains as all sectors and major bourses closed in positive territory.