EURUSD

The currency pair has come under pressure as yesterday's strong US Non-Farm Payroll data supported the Dollar. The US Manufacturing and Services PMI data, which will be announced today at 5:45 PM, will determine the weekly closing direction of the currency pair. Weak PMI data indicating a slowdown in economic activity could weaken the Dollar with expectations that the Fed may soften its tight stance, potentially allowing for a limited recovery in the currency pair.