The US Conference Board employment trends index rose from 96.7 to 97.0 in July.

A record 158,764 cars were sold in India in July, up 38pct on the previous year.

The Chinese government have told 2,087 high-polluting companies to close facilities by the end of September. The companies are largely in steel, coal, cement, aluminium and glass producing industries.

European shares rose on Monday on optimism that the US Federal Reserve will decide to further stimulate the economy this week. Energy companies rose in response to a higher oil price. And miners did well - BHP Billiton rose 0.8pct in London trade with Rio Tinto up 0.7pct. The FTSEurofirst index rose by 1.4pct with both the UK FTSE and German Dax up 1.5pct.

US sharemarkets rose on Monday in very thin trade with solid sales from McDonalds buoying investor sentiment. But shares in Hewlett Packard fell by 8pct after its chief executive officer resigned. The Dow Jones rose by 45pts or 0.4pct with the S&P 500 up 0.6pct and the Nasdaq gained 17pts or 0.8pct.

US treasuries fell on Monday (yields higher) as traders squared positions ahead of the Federal Reserve meeting and ahead of Treasury auctions this week. US 2yr yields rose by 2pts to almost 0.54pct and US 10yr yields rose by 1pt to 2.83pct.

The US dollar clawed back some of its recent losses in European and US trade on Monday. The Euro fell from highs near US$1.3300 to US$1.3215, ending US trade near US$1.3225. The Aussie dollar eased from US92.05c to US91.55c, ending US trade near US91.60c. And the Japanese yen eased from 85.50 yen per US dollar to JPY85.95, ending US trade near its weakest levels.

US crude oil prices rose on Monday on hopes that the US Federal Reserve will add more stimulus to the economy. Geopolitical concerns in Korea and Iran also supported prices. The Nymex crude oil contract rose by US78c or 1.0pct to US$81.48. London Brent crude rose by US78c to US$81.04 a barrel.

Base metal prices were generally higher on the London Metal Exchange on Monday, the exception being aluminium down 0.4pct. But leading the gains was nickel, up 3.2pct, and lead, up 1.7pct, with zinc and copper up 0.9pct and 0.7pct respectively. But the Comex gold price eased for the first time in nine days and from three-week highs in quiet trade. Comex gold fell by US$2.70 an ounce to US$1,202.60.

Ahead: In Australia, NAB will release its business survey. NAB will also issue a trading update. Alumina, Bradken and Cochlear release earnings results. In the US the Federal Reserve will meet to decide monetary policy settings.