Pick of the Day: Update

No surprise today as the European Central Bank followed market expectations by raising interest rates from 3.25% to 3.50%. We saw minor volatility afterwards as the pair moved in between a 40 pip range even. With the Eurozone’s strong economy and analysts expectations of a strong US jobs number tomorrow, EUR/USD will probably stay range bound for the rest of day as traders are uncertain of direction. So, no trade for today and we will get ready and focus for the US Non-Farm Payrolls report tomorrow at 8:30 am EST.