By ForexMansion.com
The European shared currency will witness calm trading in the European session, while to be affected by the release of US income and spending data, as further improvement in the world’s leading economy. The upside revision to US GDP in the fourth quarter on Friday supported the dollar further on the strong recovery and undermined the euro which is still burdened by the debt crisis.
The personal income, spending and Core PCE reports will be released at 12:30 GMT from the US; spending accounts for 2/3 of GDP in the U.S.,  and accordingly, having a major impact on the pair’s trading since it will directly affect the dollar.
No fundamentals will be released by the European nations which will leave investors a wide room to continue to focus on the debt crisis and development in Portugal.
