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

Expectations for a softer landing for the US economy are now up 0.2% in each case, building on the previous week’s gains.

MSCI’s broadest index of Asia-Pacific shares excluding Japan rose 0.2% after gaining 2.8% last week. It fell 0.4% after gaining almost 9% last week.

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

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

Federal Reserve Chairman Jerome Powell is scheduled to travel to Jackson Hole on Friday, where investors expect him to concede a potential interest rate cut.

The Federal Reserve is not the only institution considering easing policy; the Swedish central bank is expected to cut interest rates this week, possibly by a significant 50 basis points.

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

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

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