FXStreet reports that analysts at Danske bank provided a brief highlight of Monday's trade set-up and also offered a preview of important releases.

"The coronavirus will continue to attract market attention. As the number of new cases appears to be levelling off, the focus is turning to the economic impact of the virus. The US 3m10s curve has inverted again, highlighting that investors think risks are increasing that the US will fall into a recession (investors are pricing in more than a 50% probability of a recession, according to our model based on US yields)."

"In the US, focus is on ISM manufacturing. The effect of the coronavirus on countries and value chains outside China will likely take some time to materialise and in light of strong regional PMIs, we look for an increase in the ISM manufacturing to 48.2 from 47.2. Boeing's decision to halt production of 737 MAX is a downside risk, however."

"The UK has now formally left the EU and the negotiations on the future relationship will soon begin. Today, PM Boris Johnson will hold a speech outlining his objectives followed by a speech by EU chief negotiator Michel Barnier discussing EU's objectives."