Asian stocks dipped on Monday as investors braced for a bevy of earnings from the world’s largest corporations, while keeping a wary eye on U.S. bond yields as they approach peaks that have triggered market spasms in the past. On the geopolitical front, U.S. President Donald Trump said on Sunday the North Korean nuclear crisis was a long way from being resolved, striking a cautious note a day after the North pledged to end its nuclear tests.

ECB chief Mario Draghi on Friday said he was confident that the inflation outlook has picked up, but uncertainties “warrant patience, persistence and prudence.”

In currencies, demand for the dollar continued to be underpinned after recent comments by Federal Reserve officials indicated rates will continue to rise in 2018 as the economy remains on a steady course.

Expectations of higher interest rates tend to boost the dollar by making the currency more attractive to yield-seeking investors, EURUSD was easier at 1.2270 having repeatedly failed to break above 1.2400 in the last couple of weeks. USDJPY rose to a two-month high climbing to 107.89. Sterling pushed higher, with GBP/USD rising 0.14% to 1.4021 after ending the previous week down 1.71%.

In Commodities, Oil prices edged down in early trade but were not far from their highest. The market had wobbled, when Trump tweeted criticism of OPEC’s role in pushing up global prices, but quickly steadied. Brent crude oil futures were off 3 cents at 74.03 per barrel, while U.S. crude eased 10 cents to 68.30. Gold prices were trading lower at 1332, while the U.S. dollar rose amidst higher 10-year U.S. treasury yields.

Forex market economic calendar is relatively light, related to the economies of Eurozone and Canada. Events in the European session such as Flash Manufacturing PMI, Flash Services PMI will be released for Germany and France, low volatility is expected. Later during the end of the day speech from BOC Gov Poloz will be in place.