Overnight

Shares were up in Asia overnight as investors apparently took some solace in U.S. non-farm payrolls numbers out last Friday. Weak to tepid numbers in the eyes of many put off another rate hike in the near future. The risk here however small is that the Fed will do something different, but this is hardly an aggressive group of central bankers.

The Nikkei 225 gained 1.2 percent, its highest level in three months, the Australian ASX 200 was up 0.99 percent. In China the mainland markets were higher, with the Shanghai composite up 0.19percent  while the Shenzhen composite was up 0.65 percent.The Hang Seng index was up 1.62 percent, at levels not seen since August 2015. In South Korea, the Kospi was up 0.89. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.5 percent higher in early trade.

Look for more jawboning in the upcoming week as officials from the Bank of Japan and the Fed unleash what most likely will be closely watched speeches ahead of policy meetings later this month. And don't forget the ECB will wind up a  two-day policy meeting while the U.K.’s new Treasury chief will make his first appearance before the House of Lords. There also will be data on inflation from China. With Monday being a holiday in the U.S. markets won't get to normal, if we can use that term, until Tuesday.

The WSJ reported: In early Asian trade, crude-oil prices gave up gains with Brent, the global crude benchmark, last trading down 39 cents at $46.44 a barrel. Gold, meanwhile, was up 0.1%.