Global equity markets traded mostly flat on Monday as investors awaited U.S.-China trade talks this week at the G20 summit, and the dollar fell to three-month lows on bets the Federal Reserve may cut interest rates more than once this year.
European stocks stumbled on fears of an escalation in Iran tensions, which also kept gold prices near a six-year high. Shares in China edged higher on hopes of a thaw in the Sino-U.S. trade war that been blamed for slowing global growth.
Chinese state media said on Sunday that President Xi Jinping will attend the summit in Osaka, Japan, where he is expected to meet U.S. President Donald Trump.
U.S. stocks rose but held below a record intra-day high set last week. They are unlikely to push much higher without progress on U.S.-China trade or a Fed rate cut, said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey.