Global markets were little mixed on Monday ahead of a week packed with fresh corporate results as well as a Federal Reserve rate decision. Markets are also keeping an eye on political developments in Washington, with rising doubts about President Donald Trump’s ability to legislate his pro-growth policies after the failure of the healthcare bill.

European bourses were mixed, with shares of German auto makers and oil producers among those pushing the markets lower.

US stocks fluctuated, as Wall Street investors were paying attention to weakness in the dollar, and conversely strength in the euro. A weak dollar tends to give a boost to multinational companies selling goods and services abroad, while a strengthening euro can provide a headwind to European companies selling outside the Eurozone.

Auto’s, Airlines under pressure

Vehicle makers in Germany were under pressure following a report that Volkswagen AG had asked Europe’s antitrust watchdog to investigate decades of coordination efforts by the country’s main auto manufacturers amid growing concern they might have breached antitrust regulations. This probe could damage the sector’s reputation even further, following the diesel emissions scandal not too long ago.

Shares of Volkswagen fell 1.6%, Daimler tanked 3.5% and BMW lost 2.13% on Monday.

Elsewhere, shares in EasyJet Plc and International Consolidated Airlines fell 3.28% and 1.1% respectively. The moves came after budget carrier RyanAir Holdings warned about pressure on fares because of overcapacity. Shares of RyanAir were also lower on Monday, losing 1.7%.

Oil rallies

Investors kept a keen eye on the highly anticipated meeting of oil ministers from the Organisation of the Petroleum Exporting Countries and some non-OPEC producers on Monday as they called on several members to boost compliance with production cuts to help clear excessive global stocks and support flagging prices.

OPEC has agreed with several non-OPEC producers led by Russia, to cut oil output by a combined 1.8 million barrels per day from January 2017 to end March 2018. OPEC states Libya and Nigeria were exempted from the limits to help their oil industries recover from years of unrest.

Oil prices rallied on Monday, as markets reacted positively at the news that Saudi Arabia has pledged to lower crude exports, and Nigeria also voluntarily agreed to limit its oil output, raising hopes that market rebalancing is on the way. Crude oil rose 1.33% to trade at $46.19 a barrel.

Alphabet stock drops

Alphabet reported a steep drop in second quarter profit thanks to a $2.74billion fine European antitrust regulators slapped on its Google unit.

Shares fell as much as 3% in afterhours trading as the company reported worse than expected performance two key areas: cost per click and traffic acquisition costs.

Staying in the technology sector, shares of Apple and Facebook posted gains during Monday’s session. Apple was up 1.21% and Facebook rose 0.95%.