This is for all news traders.......
It seems that the euro as constantly losing momentum. Despite the ECB's raise in interest rates in July, the European region is still threatened by inflation, and the European data released this week did not help in improving the situation either. European economic sentiment hit a five-year low in July, reflecting a motionless economy and reinforcing investors' views that interest rates will be left unchanged despite the growing inflation. These negative data further weaken the euro, according to traders.
Investors will keep a close eye on U.S. jobs data as well as closely monitoring oil prices. The dollar was boosted due to the fall of crude oil prices to a 3-month low, its biggest monthly fall in 4 years. The euro stabilized after a 0.3% fall at $1.5559, not far from its one month low of $1.5522, and far from its $1.6040 peak of last month.
source:
http://www.finexo.com/docs/tech_analysis/emc.pdf