- At the start of a pivotal week for markets, the dollar advanced and stocks extended losses in Asia, with interest rate decisions due from the Federal Reserve, the ECB, and a slew of other central banks.

- The dollar rose against all of its group of ten counterparts, while the Asian equity index fell, snapping a 2-day winning streak.

- On Friday, a late-day drop in US stocks shattered the calm that had prevailed for the majority of the trading session, with the S&P 500 closing near the day's lows. The Dow Jones Industrial Average dropped for the first time since September. On Monday, US stock futures fell in Asia.

- The 10-yr Treasury yield eased slightly after a spike on Friday that took it to just below 3.6%. Government bond yields in Australia and New Zealand increased.

- Fears of a recession have resurfaced ahead of the Fed's decision on Wednesday, when policymakers are expected to reduce their hike to 50 bps. Nonetheless, officials, including Fed's Powell have stated that borrowing costs will need to remain restrictive for some time, putting them at odds with some investors who expect rate cuts later in 2023.

- The ECB follows on Thursday, with a 50 bps hike expected. Markets must also deal with decisions from the BoE and monetary authorities in Mexico, Norway, the Philippines, Switzerland, and Taiwan this week.