Overall, the market heads towards the U.S. open trading on very light volume. Despite this, the majors have sold the dollar and managed to regain some of the recently lost ground. Ahead, the release calendar is virtually clear, which means that the U.S. equity market will influence the currency market.

The Euro (Eur/Usd) fell 60 pips during the Asian session, but reversed the moves and advanced slightly above the Asian opening price during the European trading hours. For now, the euro advances as some traders speculate the ECB will not reduce the interest rate under 1%. 

The Pound (Gbp/Usd) rose 100 pips during the European session, reversing earlier declines seen during the Asian session. Additionally, the pound is starting to develop a trend, once again, after treading water in a 100+ pip range, during the last few days.

The Aussie (Aud/Usd) struggled to break above the 0.7200 resistance area during the overnight session, but managed to do so after the London open. The aussie managed to break above the resistance area on very light volume and in spite of the U.S. futures moving lower.

The Cad (Usd/Cad) has barely moved since the new day of trading started. Until now, the cad has traded within the same range as it did on Friday, unable to develop a decent trend. Later today, the Canadian Business Outlook Survey, the only economic release scheduled, may influence the pair. 

The Swissy (Usd/Chf) moved relatively strong during the overnight session. The pair rose in the Asian trading hours up to TheLFB R1 (1.1595), but started to move lower soon after. For now, the swissy is trading just below the 50-day simple moving average. 

The Yen (Usd/Yen) re-tested the 100.70 area in the overnight session, the same place where it peaked on Friday. The test came during the European session, after the pair moved side-ways during the early part of the trading day.