EUR/USD (a 4-hour chart)
The U.S. dollar continues to grow after positive Non Farm payrolls in the United States. The number of jobs is increased by 195,000 new employees (the forecast was 160 thousand). This news caused a growth of the dollar, as investors prepare for the fact that in September, the Fed can lower program of stimulations.
The ECB President Mario Draghi supports a more loose monetary policy now. That was a surprise as the last time the ECB assumed that the transition to the negative interest rates on deposits is possible.
Thus, in their view, taking up a position Fed hints about the upcoming action, the markets got a very clear signal that policy makers will keep short-term interest rates near zero.
It is clear that the shift in the policy of the ECB came in response to the tightening of the Fed.
Looking at the economic calendar, it is clear that it is much lighter this week, although the German data in focus. In particular, the German consumer price index should show that inflationary pressures remain below 2% annual goal of the ECB.