European stock markets retreated Monday, dragged down by falling banking stocks ahead of a crucial Italian referendum at the end of week.
Asian markets headed into the weekend on a positive note Friday, with Tokyo again propelled by the weaker yen but the U.S. dollar edged back slightly in the afternoon following its recent surge against global currencies.
The U.S. dollar barreled ever higher against most currencies Thursday, sitting at an eight-month high against the yen and hitting a record high against the Indian rupee.
Most Asian markets rose again Wednesday, tracking a record close on Wall Street, while the U.S. dollar held onto its gains against the yen on expectations of a U.S. interest rate rise.
Asian and European stocks forged higher on Tuesday, as rising metals and oil prices bolstered sentiment in the mining and energy sectors, dealers said.
Donald Trump on Monday announced the United States would signal its withdrawal from the Trans-Pacific Partnership (TPP) trade deal on his first day in the White House, as one of six immediate steps aimed at "putting America first."
A Trump presidency could boost flagging oil prices in the long term but the upcoming meeting of major producers may be the bigger influence for now.
Several U.S. allies took aim at Donald Trump's views on global trade, while China's president made an impassioned call against the sort of protectionism favored by the president-elect at a summit of Asian-Pacific leaders on Saturday.
A summit of top world leaders was urged Friday to fight rising protectionism after Donald Trump's election victory stoked fears that free trade is under threat, and the global economy along with it.
Barack Obama touched down in Peru late Friday on the final foreign visit of his eight-year presidency, facing tough questions from assembled Pacific leaders about Donald Trump's election victory.