European & US sessions forecast levels: 1.3850/1.4025
Trend Sessions: European: Neutral/Downward
Market Focus: 8:30 AM M Initial Claims, Continuing Claims, Productivity-Prel, Unit Labor Costs, 10:00 AM Factory Orders, 6:00 AM Germany Factory Orders, 7:45 AM ECB interest rate announcement.
Daily Strategy: The dollar may extend gains against the euro a day before the U.S. jobs report. The expecting positive news for the U.S. jobs report help the dollar to back close to the key support level at 1.3850. It is expecting test of that support level today as the chances for successive test below 1.3850 rises. The other key news today is the ECB interest rates decision. It is widely expecting ECB to leave the interest rates unchanged.