20 February 2017
No less than five heads of regional Federal Reserve bank are due to speak this week. Investors will be watching closely what speakers say, to look for clues.

Cleveland Federal Reserve President Loretta Mester said on Monday she would be comfortable raising interest rates at this point if the economy kept performing the way it did.

Asian share markets were mixed on Monday as political uncertainty globally kept the mood cautious. Turnover was light with U.S. markets closed for the Presidents Day holiday.

Stock markets in the Middle East were mixed in modest trading volumes on Sunday with Saudi Arabia and Qatar outperforming because of support from the banking sector, while Egypt fell as the currency hit a three-month high.

Oil prices held steady on Monday as investors gauged whether an increase in U.S. drilling rigs and record stockpiles would undermine efforts by producers to cut output and bring the market into balance. 

Speculation the central bank could hike interest rates as soon as March has generally underpinned the U.S. dollar, though large long positions leave the market vulnerable to sudden pull backs. 

On Monday, the dollar was flat against a basket of currencies and a fraction firmer on the yen, while European politics kept the euro skittish.

Gold prices held steady early on Monday, supported by a weaker dollar and lower equities.

In the latest news, the Egyptian pound strengthened on Sunday, reaching a three month high, as importers' demand for dollars at banks eased, bankers told Reuters on Sunday.

Japan's exports rose in January at a slower pace than the previous month due to a decline in shipments to the U.S. and the Lunar New Year holidays and as concerns about growing trade protectionism cast doubts over the outlook. Finance ministry data showed on Monday.

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