Asian shares break pause, gold rises on interest rate cut speculation By Investing.com

Investing.com – Asian stocks took a break on Monday after global stocks posted their best week in nine months, boosted by optimism that the U.S. economy will avoid a recession and that cooling inflation will trigger a cycle of interest rate cuts .

Currently, the expectation of a softer-than-soft landing for the US economy rose 0.2% each, building on last week’s gains.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, after rising 2.8 percent last week. fell 0.4% after rising nearly 9% last week.

The prospect of lower borrowing costs also pushed prices above $2,500 an ounce for the first time, while prices slipped from . However, both the safe haven and weakened as risk appetite recovered.

Over the weekend, Federal Reserve members Mary Daly and Austan Goolsbee hinted at the possibility of easing monetary policy in September. , due out this week, is expected to reinforce that convenient outlook.

Fed Chairman Jerome Powell is scheduled to come to Jackson Hole, where investors anticipate he will acknowledge the potential for a rate cut.

The Federal Reserve is not alone in considering looser policy; Sweden’s central bank is expected to cut interest rates this week, possibly by a substantial 50 basis points.

In currency markets, the euro was steady at $1.1025, just below last week’s high of $1.1047. The dollar settled at 147.79 yen, having reached 149.40 yen last week.

A weaker dollar combined with lower bond yields helped gold hold steady at $2,506 an ounce, near its all-time high of $2,509.69.

Oil prices fell again as continued concerns about Chinese demand weighed on market sentiment. fell 29 cents to $79.39 a barrel, while it fell 27 cents to $76.38 a barrel.