The ECB sharply downgraded its growth forecasts for the Eurozone economy from 1% to 0.6% by 2013 which generated euro sale during the last hours.
Data on the US jobs released last Friday affected markets which reflected in a cautious optimism but this mood is over for now. The ECB headed by Mario Draghi failed to take essential steps for easing of EU debt crisis.
The other leading currencies did not change its course in the last 24 hours. The Canadian dollar is very strong, trading below parity against the dollar, although its strength could be cut during the American session with a correction of USD / CAD at its first target of 0.9980.
The Australian dollar also maintains a very strong upward trend, although it has changed the speed of the latest move in that direction. However, the break of 1.0580 could push it back to the next target at 1.0615 then.
The yen does not move from a very narrow range against the dollar price. The Bank of Japan has changed its monetary policy regarding interest rates or the purchase of assets, maintaining the same pace, according to the information appeared a few hours ago.
The United States also have jurisdiction over the trade deficit figure for July. The same could be trimmed by lower energy costs, resulting from lower oil prices. Such data shall have an effect on the main actions of Wall Street. The Dow futures are tending to be slightly bearish which could last for the rest of the day.
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