As the market shifts toward a greater Fed cut, Asia markets and the dollar are restrained.

With markets divided on the possibility of an excessive move, Asian stocks began the week cautiously. This week is almost certain to see the beginning of an easing cycle in the US, with the size of the cut being the only unanswered question.

This week’s scheduled data releases include industrial production and retail sales in the United States, while central banks in Japan and the United Kingdom are set to remain unchanged for the time being.

Conditions were precarious due to holidays in China, Japan, South Korea, and Indonesia, thus initial efforts were minimal.

Japan’s Nikkei (.N225) closed its new tab and was closed, but as the yen gained recently, exporters were put under pressure, and futures ended the day at 36,315, down from the cash close of 36,581. A 0.1% decline was seen in Nasdaq futures, while S&P 500 futures saw minimal movement.

China’s industrial output growth dropped to a five-month low in August, while retail sales and new home prices further declined, according to economic data released over the weekend.

Regarding the Federal Reserve, futures saw an early rally that increased the likelihood of a half-point drop to 59% from 30% a week earlier. Following media reports that resurrected the possibility of a more vigorous easing, the odds have significantly decreased.