The dollar edged higher and Treasury yields steadied.

Shares in Hong Kong and Korea slipped, fluctuated in China, while Japanese and Australian equities posted modest gains.

US and European futures were little changed.

Global trade remained in focus as the European Union vowed prompt retaliation if the US imposes tariffs on imported vehicles, with trans-Atlantic trade tensions showing no signs of easing.

Bank of Japan Governor Haruhiko Kuroda told parliament the central bank would consider extra monetary easing if required, sending the yen lower and Topix index higher.

Oil advanced to trade close to its highest in almost three months.

Trade continues to dominate global markets like the US and China race to reach a deal that would avert a tariff increase on Chinese goods by Mar 1, a deadline US President Donald Trump has said he may extend.

With Trump receiving the findings of a probe into whether imported vehicles pose a national security threat, the possibility of auto tariffs has been revived.

The president has 90 days after officially receiving the report to decide whether to act.

Investors may also get further guidance on US monetary policy this week.

Minutes from the Federal Reserve’s most recent meeting will likely show how much conviction there was among policymakers to suspend their interest-rate hiking campaign.

Elsewhere, the pound fluctuated after seven members of the UK Parliament said they’ll stand as independents after quitting the main opposition Labour Party over issues including Brexit and antisemitism.

The Australian dollar swung to a loss after the nation’s central bank reaffirmed mounting concerns over consumer spending.