Societe Generale in its early Tuesday economic news summary pointed out:

-- US dollar sinks after President Trump doubles down on the United States Federal Reserve and Chair Powell, urges lower rates. National Economic Council Director Kevin Hassett on Friday told reporters that Trump was studying the question of whether he's able to fire Powell.

-- EUR/USD motors above 1.15, USD/JPY plummets below 140. 10-year U.S. Treasury up to 4.41%, 30-year up to 4.92% 2s/10s steepens to 65bps. U.S. trade negotiations with Japan and the European Union making glacial progress.

-- Week ahead: U.S., eurozone and United Kingdom PMIs on Wednesday. U.S. durable goods orders and Germany's Ifo survey on Thursday. European Central Bank wage tracker tomorrow. U.K. retail sales on Friday. Bank Indonesia forecast to stay on hold on Wednesday. South Africa's consumer price index. International Monetary Fun/World Bank meetings.

-- CFTC foreign exchange positioning: long euro raised to 9.8% OI, long yen climb to 50.7%, long sterling reduced further to 3.7%, short Canadian dollar lowered to 33.6%, Australian dollar shorts steady at 32.9%, short Swiss franc trimmed to 38.9% and long Mexico's peso lowered to 22.7%.

-- Nikkei -0.3%, EUR 10y IRS -1.5bp at 2.475%, Brent crude +0.5% at $66.7/b, Gold +2.3% at $3,495/oz.