Societe Generale's early Monday economic news summary pointed out:

-- Risk on, US dollar offered versus G10, Euro Stoxx futures +0.55%, yields set for higher open after the United Kingdom and France plan "coalition of the willing" to offer Ukraine security guarantees, peacekeeping force in case cease-fire is reached, United States backstop essential.

-- U.S. tariffs on Canada and Mexico, additional 10% on China from Tuesday, President Trump to determine exact level. Atlanta Fed Study warns the consumer price index could rise 1.63% for all products and 2.57% excluding food and services if all tariff policies are implemented.

-- March seasonals mildly bearish Euro, AUD, SEK, NOK, BRL, CNY. Modestly bullish GBP, CAD, MXN, INR. Mixed JPY, CHF, ZAR, CEE. Mildly bullish Bunds, U.S. Treasuries (lower 10-year yields) and global stocks (Stoxx Europe 600, S&P, Nikkei).

-- CFTC positioning: hedge funds trim euro shorts to 3.9% of OI, yen longs raised to 29.2%, sterling positioning flips to 2.2% longs, Australian dollar shorts reduced to 24.5%, Canadian dollar shorts lowered to 43.2%, Swiss franc shorts edge up to 40.6%, Mexican peso longs doubled to 19.1%.

-- Week ahead: Canada/Mexico and additional China tariffs. U.S. ISMs, nonfarm payrolls (NFP). Eurozone flash CPI, European Central Bank forecast to cut 25bps. Japan Shunto wage announcement. Turkey's central bank forecast to cut 250bps. China Caixin services PMI. CPI for Sweden, Mexico, South Korea, Czech Republic.

-- Nikkei +1.7%, EUR 10-year IRS +2bps at 2.36%, Brent crude +0.1% at $72.9/barrel, Gold +0.2% at $2,863/oz.