US Dollar hits lows
The US Dollar remained rangebound against crosses in the overseas market ahead of important US non-farm payroll data on Friday. Economists expect an addition of about 130,000 jobs in April.
Meanwhile, US Services PMI moved to 61.7 in April, higher than the forecast of 61.3 but lower than previous month's index of 63.1.
In other news, the European Central Bank kept interest rates unchanged at 2% in line with market expectations. In a press conference, the ECB chief offered a grim short-term economic outlook for the Euro region, however he denied any possibility of a rate cut.
Outlook for the day
EUR/USD - Euro is expected to trade in a 1.2900-1.3000 range with a slightly stronger bias ahead of non-farm payroll data.
GBP/USD - With support seen near 1.8975, GBP is expected to trade in 1.8975-1.9075 range.
USD/JPY - USD/Yen is expected to trade in 104.25-105.25 range.
Meanwhile, US Services PMI moved to 61.7 in April, higher than the forecast of 61.3 but lower than previous month's index of 63.1.
In other news, the European Central Bank kept interest rates unchanged at 2% in line with market expectations. In a press conference, the ECB chief offered a grim short-term economic outlook for the Euro region, however he denied any possibility of a rate cut.
Outlook for the day
EUR/USD - Euro is expected to trade in a 1.2900-1.3000 range with a slightly stronger bias ahead of non-farm payroll data.
GBP/USD - With support seen near 1.8975, GBP is expected to trade in 1.8975-1.9075 range.
USD/JPY - USD/Yen is expected to trade in 104.25-105.25 range.
posted by Drs Search @ 9:19 AM
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