There has not been much change again in the lead up to today’s ECB meeting and most charts are little changed. Watch to see if the ECB update gets the DXY moving as this could help get the Forex space moving.

Market action has been frustratingly slow of late. The DXY and most trading instruments are hardly changed against a backdrop of little scheduled news. The BoC rate update is today so watch for any impact on the USD/CAD.

The US$ is a bit lower to start the week but remains range-bound for the time being. This weakness has boosted Gold and the commodity currencies making them look quite bolshy. There isn’t any High impact news scheduled today but watch for any impact from AUD Business Confidence and EUR ZEW Economic Sentiment data.

The US$ broke up and out of a recent congestion pattern triggering pullbacks in Gold and the commodity currencies and short-term traders might have been able to snag some of this movement during the European session. Today brings NFP so caution is needed to see how this news impacts the US$.

There has been choppy price action across the charts with most showing a lack of direction following the Monday holiday in the US and UK. Today brings Aussie GDP data but this chop could well continue until Friday’s US NFP.