Monday Data

Then EUR/USD currency pair is currently consolidating recent activity. The US dollar posted another record low against the Euro during the London session today. Traders are now anxiously awaiting US ISM manufacturing data to be released at 14:00 GMT. This could set the tone for the week. The consensus forecast is for an unchanged number from last month. We expect to see a much more volatile reaction to a number worse than expected than one better than expected. A decline will be the third straight month of negative growth. And that, coupled with an anticipated US Fed funds rate cut, could do considerable damage to the US dollar. Otherwise we will expect to next see action when the US non farm payroll numbers are released on Friday. Again we will look to make our hedge play using the Institutional FOREX System.