World shares firmed on Monday as investors braced for a busy run of inflation data that could set the scene for a European rate cut as soon as next week and a U.S. policy easing within just a few months.

Holidays in Britain and the United States made for thin trading ahead of Friday’s figures on core personal consumption expenditures (PCE), the Federal Reserve’s preferred measure of inflation.

MSCI’s broadest index of stocks (.MIWD00000PUS), opens new tab gained 0.2%, having slipped 0.38% last week and just shy of an all-time peak of over 796.