In Asian Equity Markets stocks rose slightly on Tuesday tracking a strong overnight lead-in from Wall Street, although gains were limited as traders awaited key U.S. inflation data and the conclusion of a Fed meeting for more cues on monetary policy. Japan’s Nikkei 225 index and Hong Kong’s Hang Seng index rose 0.4 percent and 0.6 percent, respectively. China’s bluechip Shanghai Shenzhen CSI 300 index and the Shanghai Composite index fell about 0.2 percent each, with local markets set for more near-term volatility as markets weigh rising COVID-19 cases against the prospect of further relaxations in anti-COVID measures.

In Currency Markets the dollar was firm on Tuesday leading in to the release of U.S. inflation data and the final Federal Reserve meeting of the year, with investors waiting to update interest rate outlooks. The dollar gained 0.8 percent on the yen on Monday and was steady at 137.70 yen through the Asia session on Tuesday. It also held onto gains versus the Australian dollar at $0.6759. The dollar index hovered at 105.01 on Tuesday, down from a 20-year high of 114.78 in late September. The euro, meanwhile, was steady at $1.0539, as was sterling at $1.2268.

In US Equity Markets stock indexes rallied to kick off the trading week on Monday, lifted in part by gains in Microsoft and Pfizer, as investors girded for inflation data on Tuesday and a policy announcement from the Federal Reserve later in the week. The Dow rose 1.58 percent, to 34,005.04, the S&P 500 gained 1.43 percent, to 3,990.56 and the Nasdaq Composite added 1.26 percent, to 11,143.74. Biotech firm Horizon Therapeutics Plc rose 15.49 percent following a buyout offer from Amgen Inc, while Coupa Software Inc rose 26.67 percent after agreeing to sell itself to private equity firm Thoma Bravo LLC.

In Commodities Markets oil prices settled up about $2 a barrel on Monday on supply jitters, as a key pipeline supplying the United States closed and Russia threatened a production cut even as China’s loosening COVID-19 restrictions bolstered the fuel demand outlook. Brent crude futures settled at $77.99 a barrel, gaining 2.5 percent. U.S. WTI crude settled at $73.17 a barrel, rising 3 percent. Spot gold was down 0.3 percent at $1,791.09 per ounce. Elsewhere, spot silver fell 0.4 percent to $23.37 per ounce, platinum lost 1.2 percent to $1,009.69 and palladium fell 1.2 percent to $1,924.47.

In European Equity Markets stocks fell on Monday as investors braced for U.S. and European central bank interest rate decisions, while rising COVID-19 infections in China also weighed on sentiment. The STOXX 600 index closed down 0.5 percent. London Stock Exchange Group shares rose 3.0 percent after Microsoft agreed to buy a stake of about 4 percent as part of a broader deal to migrate the bourse’s data to the cloud. Sanofi fell after the French drugmaker on Sunday said it pulled out of talks to buy Horizon Therapeutics.

In Bond Markets U.S. Treasury yields rose on Monday ahead of an intense week for bond investors, with the release of U.S. inflation data and a policy decision by the Federal Reserve expected to test a recent rally and set the tone for markets over the next few months. Benchmark 10-year note yields rose about 5 basis points to 3.614 percent on Monday. Two-year Treasury yields – which tend to closely reflect monetary policy expectations – were also higher on Monday, climbing 7 basis points to 4.404 percent.