The Euro lost a little ground against the United States Dollar on Monday but, as the latter’s home market is going to be largely shut down for the Presidents’ Day break, the real trading action will probably come later in the week when the data releases start to trickle out.
The first big one will be on the Dollar side, with the release of minutes from the Federal Reserve’s last monetary policy meeting due on Wednesday. These might now look even more historic than usual given that robust economic numbers out of the US since the meeting have seen rate-cut expectations pushed out to June, but the nuances of Fed discussion usually manage to move markets, if not always durably.
