Overall, the majors rally in the Asian session against the dollar. As always, the pound moved the most, gaining 160 pips since the Sunday session opened. Usually, at this time of the day, the market moves around 40 pips, in a tight range. Ahead, the release calendar is empty in the European session, and only in the U.S. session open, there is a red-flag release coming from Canada.

The Euro (Eur/Usd) gained 100 pips in the Asian session, and broke above the 20-day moving averages. The euro rose for the third consecutive day, something that it did not succeed in the recent past. This week, the Euro-area’s calendar is relatively light.

The Pound (Gbp/Usd) after a small gap at the Sunday open, the pair tested the 20-day moving average and then surged higher. Up to now, the pound rose 160 pips, and is trading near the 50-day moving average. Later this week, the GDP report is expected from the U.K., something that might affect the pound’s value.

The Aussie (Aud/Usd) had a very strong momentum tonight. The aussie fell 40 pips after the Sunday open, but then rose another 80 pips, reaching near the 20-day moving average resistance area. In the last five days, the aussie struggled to break above it, but failed too.

The Cad (Usd/Cad) is moving lower for the fourth consecutive day. The cad has fallen 50 pips since the Asian session opened, even though it moved up initially. If the cad moves any lower, it will soon hit the 20-day moving average, a very important swing point.

The Swissy (Usd/Chf) plunged 100 pips in the Asian market. The pair is now trading near the Friday’s low, and just under the 100-day moving average. On Friday, the swissy made a new two-month high during the overnight session, but plunged nearly 400 pips during the U.S. session.

The Yen (Usd/Yen) declined 50 pips in the Asian session, despite that the S&P gained almost 1% overnight. The yen’s correlation with the equity markets has been very weak lately, even though traditionally, the two move together. Today is the second consecutive day in which the yen declines