Focus of today: EURUSD

With PMI numbers coming out of Europe and jobs, services PMI and business services ISM data coming from USA there is a good chance of volatility in EURUSD, which has had some good days after DXY turned south on Monday’s PMI numbers.

PMI from Europa came out as most expected so the trade now rests on the numbers from USA. Another push for a lower USD is definitely possible before Friday’s NFP probably will turn it all around again. Should NFP be poorer than expected the weeks trend seem to have foothold and trades should be accordingly. In such case we can expect FX crosses against USD to rally, such as XAGUSD and EURUSD did on Monday but we will probably see the “buy it all” go back live and equities etc. will probably rally as well in that case.