• EUR/USD holds positive ground around 1.0795 on the consolidation of USD.
• ECB’s Panetta said the moment is fast approaching for the ECB to cut rates, gradual steps might help to mitigate the volatility on markets.
• Many Fed officials agreed that the FOMC may review further economic data before lowering interest rates. 

The EUR/USD pair attracts some buyers near 1.0800 during the early Asian trading hours on Monday. Despite the lack of major US data releases last week, many Federal Reserve (Fed) officials and European Central Bank (ECB) policymakers will provide insight into the interest rate outlook later this week. The US inflation and Retail Sales for January will be the highlights this week. At press time, the major pair is trading at 1.0795, gaining 0.07% on the day.