SHANGHAI, Feb 28 —This is a roundup of global macroeconomic news last night and what is expected today.
The dollar fell from a seven-week high on Monday, tracking a slide in U.S. Treasury yields, as investors consolidated gains after the greenback’s recent rise and looked ahead for the release of jobs data and consumer prices for February.
The dollar’s decline was exacerbated by a higher-than-expected drop in U.S. durable goods of 4.5% last month, reversing a huge December boost from Boeing. These so-called durable goods orders increased 5.1% in December.
The report dented some of the hawkishness built into U.S. interest rates, though they are expected to remain higher for longer, analysts said.
With February coming to an end after the dollar’s almost 3% climb during the month on stronger-than-expected U.S. economic data, investors are consolidating recent positions, said Joe Manimbo, senior market analyst at Convera in Washington.
Stocks futures rose slightly in overnight trading as investors braced for the final trading day of February.
Futures tied to the Dow Jones Industrial Average gained 30 points, or 0.10%, while S&P 500 and Nasdaq 100 futures added 0.12% each.
The overnight moves followed an up session for all the major averages as Treasury yields eased. The Dow Jones Industrial average rose 72.17 points or 0.22%, while the S&P 500 and Nasdaq Composite gained 0.31% and 0.63%, respectively.
Oil prices slid on Monday as strong U.S. economic data had investors bracing for more interest rate hikes from the U.S. Federal Reserve to fight inflation, which could slow economic growth and oil demand.
Losses were limited by oil supply concerns after Russia halted exports to Poland via a key pipeline.
Brent futures fell 83 cents, or 1%, to settle at $82.33 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 61 cents, or 0.8%, to settle at $75.71.
Gold prices ticked up on Monday on a pullback in the dollar, although worries around further interest rate hikes from the U.S. Federal Reserve kept bullion near a two-month low.
Spot gold rose 0.3% to $1,816.83 an ounce. U.S. gold futures were up 0.4% at $1,823.90.
European markets closed higher Monday after posting their steepest decline of the year so far last week.
The pan-European Stoxx 600 index provisionally closed 1.1% higher, with all sectors and major bourses in positive territory. Travel and leisure stocks led gains, up 2.4%.
