Forex Flash: EUR/USD caught in ranges ahead of ECB and payrolls - UBS

The European PMI releases confirmed the unusually strong divergence between strong German growth and a very soft French and Italian growth, says the UBS analyst team. "EURUSD nevertheless stood little changed above the key resistance of 1.30".

"Not even the new all-time high in the Dow Jones moved the key FX rate", they comment. "Markets are eagerly waiting for signals in Friday's US non-farm payrolls and Thursday's ECB meeting".