Session Recap: Dollar mixed, GBP outperforms

FXstreet.com (Córdoba) - Major pairs in the FX market continue to consolidate in familiar ranges Tuesday ahead of the ECB policy decision and the US nonfarm payrolls report.

However, the GBP outperformed underpinned by stronger than expected services PMI with GBP/USD rallying over 100 pips to a high of 1.6060. The EUR/USD continues to gravitate 1.3500 lacking strength to set a fresh direction while USD/JPY trades a touch softer at the 98.30 zone. The Aussie and the Kiwi advanced during the European session with the AUD erasing its post-RBA losses against the greenback to trade above 0.9500.

During the New York session, the ISM non-manufacturing PMI will be the main event. Also watch for the Redbook index and IBD/TIPP economic optimism data.

Main Headlines in Europe:

European open: Overshadowed by ECB and US events later in the week

Spain: Unemployment jumps 87K in October

Switzerland: Annual inflation falls 0.3% in October

Kuroda says BoJ prepared to adjust policy to attain 2% inflation target

Gold grinds slightly lower, crude oil in consolidation mode

UK: Services PMI rises to 62.5 in October


EMU: Annual PPI falls more than expected in September

EU cuts Eurozone growth forecast for 2014

Sterling climbs on service PMIs with shortening expectations of BOE rate hike