Societe Generale in its early Monday economic news summary pointed out:

-- The US dollar carries over gains after nonfarm payrolls (NFP) on Friday, United States Treasury 10-year settles below 4.15%, two-year defends 4.08% (50dma). President-elect Trump says he has no plans to replace Federal Reserve Chair Powell when he takes office next month. South Korea's KRW under pressure, President Yoon avoids impeachment.

-- Week ahead: US consumer price index on Wednesday, European Central Bank forecast to cut 25bps, Swiss central bank forecast to cut by 25bps/50bps. The Reserve Bank of Australia forecast to keep rates on hold, Bank of Canada forecast to cut 50bps. Japan Q4 Tankan and Australia employment. Brazil's central bank forecast to hike 75bps.

-- China shifts monetary policy stance, says policy to be moderately loose, to stabilize on foreign trade and investment. CPI drops to a five-month low of 0.2% year over year in November. 10-year CGB yields slip to a new low of 1.944%. USD/CNY steady at 7.2770.

-- Japanese investors reduce sovereign debt holdings in October from Europe, US, Canada and Australia (BoP data). France (-1,116 billion yen), Italy (-408 billion yen), Spain (-217 billion yen) witnessed larger-than-usual outflows.

-- CFTC foreign exchange positioning: Euro shorts raised to 8.5% of OI, sterling longs cut to 7.9%, yen positioning flips to 0.9% long. Canadian dollar (CAD or loonie) shorts climb to 49.1%, Australian dollar longs reduced to 11.3%. Brazil's real shorts raised to 28.7%.

-- Nikkei +0.2%, EUR 10-year IRS steady at 2.115%, Brent crude +0.4% at $71.4/barrel, Gold +0.5% at $2,645/oz.