This morning the European Central Bank left interest rates unchanged as expected. ECB President helped move the Euro a little higher by stating that recent data has been stronger than expected partly due to temporary factors, but the ECB still expects the Euro Zone’s economic recovery to be moderate and uneven.
The Euro had a pretty uneventful night after Wednesday’s strong surge. The market is currently trading inside yesterday’s range with traders taking a cautious approach ahead of Friday’s U.S. Non-Farm Payrolls Report.
Should the Euro begin to weaken throughout the day, look for it to straddle a minor retracement zone at 1.2793 to 1.2754.
