The rate EUR/USD was influenced by fresh economic data yesterday. The most important of them was PMI index in services. The drop in the survey's employment component, which sagged to 50,0 from 57,4 in June sent the dollar to 1,2055. There are threats that similar negative tendency could be seen in today's and Friday's data from the labour market. More than 340K of new initial claims will send the dollar down. For today we expect the rate to move within 1,1990-1,2090 EUR/USD.
(CSOB Investment research)