Euro Sees Major Gains Vs. Usd

[Guest Frankfx]

The euro saw significant gains against the US dollar throughout yesterday's trading session, as investors continue to digest last week's disappointing Non-Farm Payrolls data. The EUR/USD moved up more than 100 pips over the course of the day, and was able to come within reach of the 1.2500 level. Turning to today, traders will want to pay attention to the US ISM Non-Manufacturing PMI. The PMI is considered an accurate gauge of economic health. Should the end result come in below expectations, it may lead to speculations that the Fed will soon initiate a new round of quantitative easing, which could weigh on the greenback.

 

http://jutiagroup.com/20120605-euro-sees-major-gains-vs-usd/