European & US sessions forecast levels: 1.4070/1.4340
Trend Sessions: European: Neutral
Market Focus: 8:30 AM Non-farm Payrolls, Unemployment Rate, Average Workweek, Hourly Earnings, 2:00 PM Consumer Credit.
Daily Strategy: The dollar is mix after the European Central Bank decision to leave the key interest rates unchanged at 1.00%. The decision to leave the key interest rates unchanged was widely expecting. The US initial claims remain at stable level showing that the unemployment continues rising. The investors continue to sell dollars and bet to higher-yielding currencies while the signals for the global recession is easing. Today is the key first Friday of the month when is release the very important U.S. jobs report. The latest forecasts shows rise of Unemployment Rate to 9.2% and non-farm payrolls report at €520 to €567K. After temporary dollar recovery we can see new dollar weakness at the end of the day.