Asian shares posted mixed results on Monday, and while downward pressure came from the higher probability of a Fed rate hike, an upward pressure came from the soaring dollar, which devalued Asian currencies, potentially boasting their exporting capabilities. Japan's Nikkei index rallied to a ten-week high, gaining 1.93% for the day, while China's Shanghai index rose 1.63%. India's Nifty fell a heavy 1.78%, while Korea's KOSPI index lost 0.43%.

Wall Street ended Friday on mixed levels as well, with Dow Jones gaining 46 points, or 0.26% to 17,910. S&P 500 fell 0.03% to 2,099, while NASDAQ rose 19 points, or 0.38% to 5,147.

Dollar eased down in early Monday trading, but was still near its multi-months high. Dollar index DXY fell 0.18% to 99.11. It fell 0.24% against Euro to 1.0766. It lost 0.11% against Sterling to 1.5070. Dollar kept its offensive against Yen however, rising a further 0.18% to 123.38.

Euro was modestly up, with its index gaining 0.21% to 86.88. It rose 0.14% against Sterling to 0.7144. It gained 0.41% against the battered Yen to 132.82.

Crude oil prices recovered, with Brent futures for December up 36 cents, or 0.76% to $48.53 a barrel. U.S. oil futures rose 35 cents, or 0.80% to $44.64 a barrel.

Canadian dollar rose in tandem with oil, gaining 0.12% to C$1.3290 per dollar. Australian dollar rose 0.11% to $0.7052.

Gold futures ticked up $4.30, or 0.40% to $1,092 an ounce. Silver futures rose 4 cents, or 0.30% to $14.73 an ounce.

Investors will be waiting for an array of economic reports, most notably China's CPI for October, forecast to come at 1.5% y\y, lower than September's 1.6%. a low result will further stoke fears of a slowing in China's economic activity, bringing stocks down.

From Germany, September's trade balance is forecast at 20.3B, a shade higher than August's 19.6B. a higher than expected result would push Euro higher, and vice versa.