AM Update 19 Jan 16: No US trade, oil still under pressure all eyes on China GDP out today.

US sharemarkets were closed for the Martin Luther King Junior holiday. 

Global oil prices eased on Monday in electronic trade after Western sanctions were lifted on Iranian oil exports over the weekend. Brent crude fell  by US38c or 1.3% to US$28.56 a barrel with US Nymex down by US48c or 1.6% to US$28.94 a barrel.

European shares ended only modestly lower on Monday. Banking stocks fell on news that the European Central Bank (ECB) was reviewing some non-performing loans. 

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