Ukrainian authorities said a Russian strike on Kyiv killed three.

BNY Mellon senior macro strategist Jeff said softer US labor data and improving inflation have reduced the urgency for further Fed tightening, but that does not resolve whether the growth slowdown is controllable or whether market policy expectations have overshot. He added the global narrative is fragmenting: in the US the question is whether the Fed can remain patient if inflation risks do not re-emerge; in Europe focus is shifting from emergency inflation fighting to growth, fiscal credibility and defense financing.

Oil prices fell after OPEC+ decided to raise supply. After an online meeting on Sunday the group said it would add about 188,000 bpd in August, the fifth consecutive monthly increase. ANZ research said even if the Strait of Hormuz reopens, member states may struggle to utilise the additional capacity because vessels still face risks. Analysts noted several ships attempting the Oman route through the strait over the weekend were observed turning back.