USD finding the bottom, quiet week ahead

The USD is likely to remain flat, with a bias to regain upside momentum as the ECB meets and Chinese data are published. After weak prints in NFP and retail sales, market pricing for a December lift-off has decreased substantially lately, assigning only a 50% chance of a move at the March meeting. 

"March would be the chosen date to start the normalization process in the monetary conditions, and as such, there are further upside risks to the USD in effective terms", says Barclays. 

This week is light in terms of economic releases, as only housing data are going to be released. On Tuesday, 1150k of housing starts is likely, while on Thursday, the existing home sales is likely to print a 5.42 mn saar.