Welcome to a new year of trading, traders are getting back to a market that's becoming more complicated with geopolitical issues, the Israeli offensive in Gaza and Russian-Ukraine gas dispute. In the backdrop to this is a rate decision from the UK Thursday and Fridays US Employment situation report. Still Monday should start enough as a very technical day given a bare slate in the data calendar with EURUSD looking very attractive to further its retreat with the 38.2 Fib retracement of the December rally at 1.3831 looking critical. Recall much of the December rally was premised on a no rate cut scenario for the ECB following Trichet comments but latest talk from other Governing Council members suggests continued policy easing.