European & US sessions forecast levels: 1.2805/1.3130
Trend Sessions: European: Neutral/Upward
Market Focus: 8:15 AM ADP Employment, 10:00 AM ISM Services, 5:00 AM EU Retail Sales.
Daily Strategy: The trader’s turn to the more risky assets after the news for rise of US Pending Home Sales. The dollar again breaks the levels above 1.30. At the moment any good data for US economy is bad for the dollar. The other focus of traders is tomorrow key European Central Bank meeting. The expectations are in broad range from cut of the interest rates with 75 bps to unchanged at 2.00%. Till the news of ECB the trading would not move in broad range. The reports today for the US ISM Services and ADP Employment may stop the rising euro.