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U.S. equity futures drifted after a report showed the biggest jump in U.S. retail sales since March. Meanwhile, traders awaited decision from the White House on who the next Federal Reserve head will be.

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European stocks are set for a muted open on Tuesday as investors await key economic data and digest a slew of corporate earnings.

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Gold prices rose on Tuesday, with persistent inflation worries keeping bullion’s appeal as a hedge against higher price levels intact despite a stronger U.S. dollar and elevated bond yields.

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Cryptocurrencies fell on Tuesday, with Bitcoin sliding toward the $60,000 level and Ether touching one of its lowest levels this month.

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U.S. futures rose amid optimism that companies can weather the supply-side crisis and central banks will keep fueling stock rallies. Treasuries were steady. 

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Technical indicators suggest the rally in Ether, the second-largest cryptocurrency, is due a breather after a record-breaking run. 

The native token of the Ethereum blockchain is up more than sixfold this year, topping Bitcoin’s 127% rise amid speculative fervor for digital assets. Upgrades to the Ethereum network and its popularity for so-called decentralized financial services and digital collectibles also boosted Ether demand.

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The dollar eased back from near an almost 16-month high versus major peers on Monday, as traders awaited fresh clues on the U.S. economy after bringing forward bets last week for a Federal Reserve interest rate hike on the back of red-hot inflation.

The dollar index, which measures the currency against six peers, eased 0.13% to 95.012 from Friday, when it posted its biggest weekly gain since mid-August and touched 95.266 for the first time since July 2020.

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Stocks were mixed Monday amid data showing steadying economic growth in China as well as ongoing challenges in the nation’s troubled property sector. Treasuries were steady and the dollar slipped.

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Gold prices eased on Friday due to a firmer dollar but were on track for their biggest weekly gain in six months as concerns over soaring U.S. consumer prices boosted the metal’s appeal as an inflation hedge.

Spot gold fell 0.2% to $1,857.84 per ounce by 0625 GMT, after hitting a five-month peak on Wednesday. U.S. gold futures eased 0.1% to $1,861.30.

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Stocks rose along with U.S. equity futures Friday, bringing some relief for shares from the inflation fears still roiling Treasuries.

MSCI Inc.’s Asia-Pacific gauge posted its biggest rise this week, helped by Japan’s bourse and China’s technology stocks. The view that the worst of Beijing’s regulatory blitz has passed salved sentiment. U.S. and European contracts climbed after the S&P 500 snapped a two-day fall.

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