The recent G20 summit in New Delhi had mixed results but bolstered India's standing globally. The leaders discussed increasing investment and cooperation across sectors during the Crown Prince's meeting with PM Modi. President Droupadi Murmu also welcomed the Saudi Crown Prince and, in a speech, emphasised the growing India-Saudi partnership. Meanwhile, Saudi Crown Prince Mohammed bin Salman's after-summit visit strengthened ties between India and Saudi Arabia further. Overall, the G20 summit saw little progress on Ukraine and climate change but did produce a framework on digital infrastructure. It also focused on financial inclusion and multilateral development banks. 


Major U.S. indexes rose, led by sharp gains in Tesla and other consumer discretionary stocks, as investors looked ahead to key inflation data this week that could influence the Federal Reserve's interest rate policy. Recent stronger economic reports point towards the Fed maintaining high interest rates for longer. Tesla's stock rallied as Morgan Stanley said its Dojo supercomputer could increase the company's value by powering robotaxis and software services. 


Gold prices are still in shambles without clear direction ahead of inflation data that could set expectations for the Federal Reserve's future interest rate decision. Some optimism over China's economy recovering from its slowdown could support prices, but it's unlikely that the state can continue injecting stimulus into its economy. 


Brent crude futures held above $90 per barrel on Tuesday as investors awaited economic data that could signal further interest rate hikes in the U.S. and Europe. Ongoing supply cuts by Saudi Arabia and Russia supported prices, but a surging dollar capped gains ahead of U.S. inflation figures this week that may prompt additional Fed rate increases. Oil markets now look to OPEC and IEA monthly reports for forecasts on supply, demand, and economic activity to gauge crude price direction.


The US dollar hit multi-year highs against the yen and yuan last week as strong US growth supported the Fed's decision to maintain high interest rates. The yen briefly rallied yesterday after Japan's central bank governor suggested over the weekend that negative rates could end, while China's central bank is tightening scrutiny on dollar purchases to stem yuan depreciation. Though some investors remain bearish on the dollar longer-term, its yield advantage continues to attract demand for now.