It's a snoozer ahead of European trading today

<p>The ranges for dollar pairs are a real snoozer, with the largest being ~20 pips and everything else under that. It's a really slow start to proceedings and given that we have a rather bare calendar day coming up in Europe, it's not likely that we'll get much directional pick up in the session ahead.</p><p>The big focus this week is on major central bank policy decisions but there are also other key data including Canada CPI, UK CPI, NZ GDP, US weekly jobless claims, and PMI data to round off the week on Friday.</p><p>Considering that market players are likely to wait on the Fed at least, it should be a quieter first half with little incentive for traders to really chase any moves.</p>

This article was written by Justin Low at www.forexlive.com.