The USD has lost some of its luster after Friday’s US employment report that fell short of analysts expectations , coupled with very oversold technical  indicators across a number of USD pairs . The EUR 1.2497 ( +0.36%) has ignored weaker Italian industrial production data this morning and will be looking ahead to  eurozone & country specific GDP releases later in the week( Friday). GBP, 1.5902 ( +0.20%) will be looking towards Wednesday’s UK Employment data and the BOE Quarterly inflation report for any clues as to the timing of a movement in benchmark rates. AUD, .8670 ( +0.44%) benefited from stronger trade data over the weekend from China which outweighed weaker Home loans data for Australia. CAD , 1.1306( +0.19%) will be awaiting Canadian housing starts data this morning ( exp 199k)