World equities are set to post a fourth consecutive month of gains on Monday, while the dollar remains under pressure ahead of a slew of European and US data that will confirm whether the global economy is on a steady recovery path. MSCI’s broadest index of world stocks drifted 0.1 per cent higher, putting the gauge on track for a 1.4 per cent gain for May. Although US inflation data last week was above estimates, another big miss on the jobs front would heap pressure on the Fed to postpone plans to wind down on stimulus. Elsewhere in equities, Asian shares edged higher and in Europe, indexes consolidated gains after last week’s record close ahead of manufacturing PMI data this week. Usually volatile cryptocurrencies enjoyed a quiet start to the week with bitcoin steadying around $36,000 while its smaller rival Ethereum rose nearly 4 per cent to $2,481.

Source: The Irish Times May 31, 2021 06:33 UTC