The U.S. central bank will be of key importance this week for investors, as its Chair Janet Yellen, is set to give a speech on August 26 at the Federal Reserve Bank of Kansas City's annual Economic Policy Symposium at Jackson Hole, Wyoming.
Investors will be looking to the Fed, to see if it provides any indications as to when it may raise interest rates, while giving a long-term outlook on the state of the U.S. economy.
"Yellen has a great opportunity this Friday to send a clear and concise message to investors, the problem being that I don't think anyone would be surprised if we're once again looking back on this as another missed opportunity," Craig Erlam, senior market analyst at OANDA, said in a note.
"The markets currently have March priced in for the next rate hike and if Yellen is seriously determined to move earlier, she must take advantage of Friday's opportunity to drive that message home."
Several Fed officials spoke out last week about when the U.S. central bank could raise interest rates, while Fed Vice-Chairman Stanley Fischer said Sunday that the U.S. central bank was close to hitting its targets for 2 percent inflation and full employment.
On the earnings front, Nordson and Premier are among the corporates set to report on Monday. No major economic releases are due out on Monday.
Meanwhile, crude futures came under pressure on Monday, as analysts showed doubt over whether leading oil producers would successfully tackle the supply glut seen the market. WTI and Brent sat around $47.40 per barrel and $49.50, respectively.