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S&P Futures have gapped lower, Asian equity markets have moved in a tight range, while oil and gold also flat-line. There is nothing to be taken from the first trading session of a quiet economic week; so far the dollar picture is mixed.
The major pairs are holding around the lows of Friday trade, and as yet have not signaled an intention to do anything other than consolidate at these areas. The real test will be in the reaction to the European equity market open and subsequent follow through. We are looking to see if the dollar continues to get bought on positive equity trade, something that would not normally easily happen; if so we will know that last week's Usd buying may be able to get built on, TheLFB Trade Team said.