G20 growth vow keeps shares near 9-month high

They indicated that they would closely monitor developments associated with the referendum as well as other global economic and financial developments that could affect the USA outlook.’USD Exchange Rates Forecast to Weaken if Fed Hints at Static RatesIf the Fed’s policy statement, penned in for publication on Wednesday evening, confirms that a US interest rate hike is now much less likely before the turn of the year thanks to the ongoing Brexit uncertainty, then look for the US Dollar (currency: USD) to weaken against the other most actively traded global currencies. The U.S. equity benchmark index fell 0.3 percent, retreating from an all-time high, as a tumble in the price of crude sank energy shares.

South Korea’s Kospi Index lost 0.2 percent.

Dollar interest rates futures, which had priced out any chance of a rate hike this in the days that followed the United Kingdom referendum, are now pricing in about a 40 percent chance of a 0.25 percentage point increase by the end of year.

The Australian dollar was also little changed, at $0.7471, after slipping 0.4 percent on Friday against the broadly stronger dollar.

GLOBAL MEETING: Envoys of the Group of 20 major economies, meeting in China, promised Sunday to protect the world economy from the shockwaves of Britain’s European Union referendum and to boost sluggish growth, while rejecting trade protectionism.

The S&P 500 .SPX set another record closing high on Friday. The Nasdaq composite rose 26.26, or 0.5 percent, to 5,100.16.

The Bank of Japan is widely expected to ramp up its stimulus to kickstart the struggling economy.

The Federal Reserve is unlikely to raise its benchmark interest rate when its policy-making committee meets on Tuesday and Wednesday.

While the BOJ has actually successfully rushed hopes that it would embrace unconventional “helicopter cash” stimulus techniques, the marketplace has actually still preserved its expectations that the reserve bank would alleviate in one form or the other. The U.S. economy is in better shape than other advanced economies, and few expect the Federal Reserve to make a big move at its meeting.

ENERGY: The price of USA crude rose 5 cents to $44.25 a barrel.

The dollar edged higher against yen at 106.10 yen JPY= , and was steady against the euro EUR= at $1.0974.

The net dollar net long position increased to.42 billion in the week ended July 19 from.01 billion the previous week, according to Reuters calculations and data from the Commodity Futures Trading Commission issued on Friday.

Brent crude futures traded at $45.40 per barrel, down 0.6 percent and near Friday’s $45.17 which was its lowest since May 11.