The European currency repeated during Thursday's session the recent behavior with sharp increases in early European session after heavy losses during Asian session.
Previously it was weakened again during the American session against the backdrop of the main activities of Wall Street, which pushed the currency down.

The European debt crisis is presently somewhat alleviated by a considerable decrease in the borrowing costs of Spain (had approached default rates on Wednesday). The key data on the U.S. economy in recent days has been somewhat ignored in the headlines.

At 8:15 Eastern were expected private jobs report, provided by ADP, who previously mentioned the creation of 145,000 jobs in May up from 119,000 in April. Revisions of the latter figure, together with the divergence which often occur between the forecast and eventually published data are the factors that have an impact on prices, so you have to pay close attention to the report. The same is with the data employment from the Department of Labor which is to be released on Friday.

At 8:30, meanwhile, will be the turn of the first of two revisions of GDP in the second quarter. With a background of 2.2%, 1.9% growth expected this month appears very modest for an economy struggling to leave behind the deep recession that lasted until mid-2009 but failed to take off in sustainably. This is another fact that will affect currency prices.

The data on unemployment usually published on Thursday coincide with the end of the month and expected publication of the Chicago PMI.

In short, the day full of information and the end of the month, is always profit-taking and somewhat unpredictable; currency market that is presented by the dollar as the overall winner and the yen as a refuge.

What will happen on the market in the next few hours? It will be difficult for the U.S. currency to continue further the upward movement. In Europe it is really hard, though important corrections in the price of the euro if, for example, as the ECB announces some kind of direct aid to Spain, and away from its own sufficiency, complains about the lack of attendance. Spain is now the nation with more problems to deal with their external commitments, and tibia proposal to extend its fiscal deficit above 3% of GDP for one year is too little for a country that needs urgently to save the lives of their banks.

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