The lack of direction in the global markets prevails in the European morning and motivates EUR/USD to alternate gains with losses near the 1.0670 region at the beginning of the week.
EUR/USD: Next on the upside comes 1.0760
EUR/USD looks to extend the positive bias seen in the second half of the last week with the immediate target at the 1.0700 neighbourhood ahead of the so far monthly peak near 1.0760 (March 15).
The inconclusive price action around the pair falls within the equally vacillating mood around the greenback and the rest of the global assets in a context where market participants remain prudent in light of the developments around the banking sector and the imminence of the FOMC gathering.
In the domestic calendar, Producer Prices in Germany contracted at a monthly 0.3% in February and rose 15.8% from a year earlier. In addition, and later in the session, ECB Chair C.Lagarde is due to speak.
Across the pond, short-term bill auctions will be the sole release later on Monday.
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