EUR/USD – Euro Continues Rally as Dollar Struggles

EUR/USD continues to move upwards in Wednesday trading. The pair crossed  the 1.32 line in the European session, as the US dollar continues to lose ground. The euro has taken full advantage of broad weakness by the greenback, and has gained over two cents in the past week. In the US, the markets will be hoping for good news from Wednesday's key events - ADP Non-Farm Employment Change and the ISM Manufacturing PMI. This will be followed by the FOMC Statement at the Federal Reserve Policy Meeting. We won't see any action out of Europe, where the markets are closed for the May 1 holiday.

Will he or won't he? This question is looming large, as the markets anxiously wait to see whether Mario Draghi and his colleagues at the ECB will press the trigger and lower in interest rates for the first time since last July. The Eurozone continues to stagnate with poor releases, highlighted by another record high for Eurozone Unemployment Rate, which edged to 12.1%, up from 12...