A light one on the data docket in Europe today

The dollar is keeping mixed as we look towards European morning trade today. The euro and yen are a touch higher but the antipodes are lagging, as risk sentiment is on the rocks heading into the final stretch this week. US futures are a little higher now but it doesn’t mean much after the heavy selling from yesterday. The euro continues to intrigue though as seen below:

The ECB policy decision went as expected for the most part. The door is open for a pause in April but the ECB could still look to cut again if they feel compelled to. In essence, there is flexibility there but we’ll have to wait and see how policymakers want to frame things in the next few weeks.

EUR/USD did climb to a high of 1.0853 overnight before closing under some key levels on the daily chart. The 1.0800 mark and the 61.8 Fib retracement level at 1.0817 are both holding for now. We are seeing buyers test waters again above 1.0800 for now but again, we’ll have a better sense of things only after the US jobs report today.

Looking to European trading, it is going to be a slower one with minor data on the agenda. It’ll be a waiting game until the non-farm payrolls release. A quick snippet: February non-farm payrolls preview by the numbers: A wide range of estimates and opinions

0700 GMT – Germany January industrial orders0700 GMT – UK February Halifax house prices0745 GMT – France January trade balance data1000 GMT – Eurozone Q4 final GDP figures

That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.

This article was written by Justin Low at www.forexlive.com.