Economists at ING analyze USD outlook ahead of Initial Jobless Claims and the Services ISM index figures.
The focus today will be on the Initial Jobless Claims (these have been moving markets) and the Services ISM index. Barring a significant rise in claims or a big dip in the Services ISM, it looks like the Dollar will hang onto recent gains into what should be a decent US July Nonfarm Payrolls report on Friday.
DXY could grind its way toward the 103.50 area.