EUR/USD: Nearing Resistance

Re-capping Friday's activity, the Dollar was down sharply, as the bulls felt their rate support slip further after the release of the 2 nd quarter GDP figure. The number was a less-than-expected 2.5%, which increased the likelihood of a Fed pause in August. The prospect of loosing rate support caused the Dollar to slip against the other majors. Looking ahead, the major number this week in the U.S. will be Friday's non-farm payroll report, which is expected to show a gain of 150,000 new jobs for July. Read More....