A gauge of the U.S. dollar headed for its longest losing streak since Donald Trump won the election, while most major equity markets faltered even with a global index near an all-time high. The yield on 10-year U.S. Treasuries held to Friday’s decline.

Equities retreated in Europe, Australia and New Zealand, as did S&P 500 Index futures. Japan’s stock market was closed Monday for a holiday. Indexes rose in Hong Kong, Malaysia and Thailand. The Australian 10-year yield resumed a retreat after rising at the end of last week. The yen touched its strongest in three weeks, while the Korean won was the highest in five months. Oil fell for the ninth day in 11.

While global stocks are coming off their best week since January, the dollar has slumped 1.7 percent after the Federal Reserve raised interest rates on March 15 yet didn’t accelerate the timeline for future tightening. Volatility remains low across markets from equities to currencies and fixed-income as investors strive to assess how sustainable the nascent global economic recovery is. Money managers will be scrutinizing a flurry of Chinese company earnings that are due this week from Tencent Holding Ltd. to Cnooc Ltd.

The Group of 20 nations omitted a pledge to resist all forms of protectionism in its communique from its meeting in Baden-Baden, Germany at the weekend. That shift followed hours of wrangling that kept officials in suspense on whether the G-20 would even mention trade, with occasional doubts that a communique might be produced at all.

Read our Markets Live blog here.

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What’s coming up this week:

  • Central bank policy decisions in New Zealand, Philippines and Sri Lanka.
  • Japan Prime Minister Shinzo Abe to host trade talks with the European Union on Tuesday.
  • A deluge of earnings from Chinese companies, including: Citic Securities, Sinopec and Ping An.
  • Reserve Bank of Australia Governor Guy Debelle speaks Wednesday in Singapore.

Here are the main market moves:

Currencies

  • The yen was little changed at 112.74 per dollar as of 8:26 a.m. in London after reaching its strongest since Feb. 28.
  • The euro climbed 0.3 percent to $1.0769, while the Australian and New Zealand dollars rose 0.3 percent and 0.4 percent, respectively. The British pound gained 0.2 percent.
  • The South Korean won jumped 1 percent to its highest since Oct. 20, leading gains in emerging Asian markets. The baht also reached its strongest level since October.

Stocks

  • Futures on the S&P 500 Index were down 0.1 percent. The underlying gauge rose 0.2 percent last week.
  • The Stoxx Europe 600 index fell 0.2 percent. The FTSE 100 and Dax index were also both down 0.2 percent.
  • Australia’s S&P/ASX 200 Index and South Korea’s Kospi lost 0.4 percent. The Hang Seng Index advanced 0.8 percent, while the Shanghai Composite Index rose 0.4 percent.
  • New Zealand’s S&P/NZX 50 Index slid 1.4 percent, the most since November, dragged lower by Fletcher Building Ltd., which identified more expected losses in its construction division.

Bonds

  • The yield on 10-year Treasuries was little changed at 2.50 percent after falling four basis points on Friday.
  • The yield on 10-year Australian government bonds dropped four basis points to 2.82 percent.
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Commodities

  • West Texas Intermediate crude slid 0.7 percent to $48.42 a barrel. It has dropped 10 percent this month, heading for the steepest one-month slide since July.
  • Gold rose 0.3 percent to $1,232.97 an ounce, climbing for a fourth day.
  • Base metals fell on the London Metal Exchange, with copper forwards down 0.2 percent and tin retreating 0.3 percent.

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