Session Recap: USD advances on Draghi and NFP hangover

FXstreet.com (San Francisco) - The Greenback traded higher against its major competitors on Monday as investors were digesting Friday's nonfarm payrolls report and as the Euro was hurt by Draghi's concerns on the economic recovery in the Euro area.

Luxembourg's Central Bank governor and Key ECB member Yves Mersch remarked its personal ‘whatever it takes’ after saying earlier in the day that the "ECB will do all that is needed for the euro to have a long and prosperous life."

The EUR/USD declined from the 1.3135 area to trade below the 1.3100. The GBP/USD moved sideways but overall negative on the day with the Cable rejecting the 1.5600 again. The USD/JPY priced higher above the 99.00 with the pair consolidating levels around 99.30.

Main headlines in the American session:

Canada: Building Permits rose 8.6% MoM in March

Russia extends loan to Cyprus

Canada: Ivey Purchasing Managers Index disappoints at 52.2 in April

Draghi: Interest rate cut due to economic slowdown in Eurozone core

Draghi says ECB ready to act again if needed

Letta: Anti-European votes in 2014 elections are the risk if EU summit does not deal with crisis

Wall Street opened the week with mixed note