In Asian Equity Markets stocks retreated on Monday as investors pivoted out of risk-heavy assets ahead of more signals on U.S. monetary policy this week, while rising COVID-19 cases in China dampened optimism over an economic reopening in the country. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 1.2 percent. Japan’s Nikkei eased 0.2 percent. Chinese bluechips fell 0.9 percent, while Hong Kong’s Hang Seng index was down 2.2 percent, as investors’ focus shifted away from crippling COVID-19 curbs to the rise in infections that is now disrupting the economy.

In Currency Markets the dollar climbed on Monday after data on Friday showed U.S. producer prices had risen more than expected last month, pointing to persistent inflationary pressures and a chance the Fed would keep interest rates higher for longer. The dollar rose 0.35 percent against the Japanese yen to 137.05. Against a basket of currencies, the U.S. dollar index eked out a 0.12 percent gain at 105.18. The euro was last 0.2 percent lower at $1.0509. Sterling fell 0.31 percent to $1.2229, while the Aussie edged 0.34 percent lower to $0.6773. The kiwi similarly fell 0.34 percent to $0.6393.

In US Equity Markets stocks ended lower on Friday as investors assessed economic data and awaited a potential 50-basis point interest rate hike by the U.S. Federal Reserve at its policy meeting next week, while apparel company Lululemon fell following a disappointing profit forecast. The S&P 500 declined 0.73 percent to end the session at 3,934.38 points. The Nasdaq declined 0.70 percent to 11,004.62 points, while Dow declined 0.90 percent to 33,476.46 points. Broadcom Inc jumped 2.6 percent after the chipmaker forecast current-quarter revenue above Wall Street estimates.

In Commodities Markets oil price settled lower in volatile trading on Friday, with both benchmarks recording their biggest weekly declines in months, as growing recession fears negated any supply woes after weak economic data from China, Europe and the United States. U.S. WTI crude settled 44 cents lower at $71.02 a barrel, a new low for 2022. Brent crude settled 5 cents lower at $76.10 per barrel. Spot gold rose 0.5 percent to $1,798.40 per ounce. Elsewhere, spot silver rose 1.8 percent to $23.48 per ounce, platinum climbed 2.1 percent to $1,024.00. Palladium gained 1.7 percent to $1,958.79.

In European Equity Markets stocks rose on Friday as industrial and financial stocks gained on China-led optimism, but recession worries ahead of a slew of central bank decisions dragged the region-wide STOXX 600 index to a weekly loss after a seven-week rally. The STOXX 600 closed 0.8 percent higher. Industrial stocks such as Siemens AG and Schneider Electric SE were among the biggest boosts to the index, while China-exposed financials such as Prudential Plc rose 3.0 percent. Vestas gained 6.4 percent as the Danish wind turbine maker announced new orders and UBS raised its price target.

In Bond Markets U.S. Treasury yield gained on Friday after data showed U.S. monthly producer prices came in higher than expected for November and consumer sentiment improved, suggesting interest rates will remain higher for longer. In afternoon trading, the yield on 10-year Treasury notes rose 9.1 basis points (bps) to 3.583 percent. U.S. 30-year yields were up 12.2 bps at 3.575 percent. The breakeven rate on five-year TIPS was last at 2.370 percent, down from Thursday’s 2.411 percent.