Traders now turn to the European Central Bank's meeting and interest rate decision this week. The bank is expected to cut its interest rate by 25 basis points.
President Lagarde could deliver new clues about the development of the European monetary policy. European bond yields could react significantly to new data.
Market focus will be on the upcoming US labor market data, especially the nonfarm payrolls report, which could impact the euro-dollar pair based on expectations around the Fed's monetary policy stance.
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