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The dollar strengthened significantly as worries from all over the globe took over. Elections in France and Greece, US Trade Balance, jobless claims and Consumer Sentiment are the highlights of this week. Here is an outlook on the main market-movers awaiting us.

The highly anticipated Non-Farm Payrolls came out weak, only 115K jobs gained. Yet this is only part of the story: revisions added 53K and the unemployment rate fell once again. With weakness seen from so many places (Europe, the UK, Australia and New Zealand), the US dollar enjoys a still growing economy and safe haven flows. Will this continue?

Read the rest of the article [URL="http://www.forexcrunch.com/forex-weekly-outlook-may-7-11/"]Forex Weekly ...

Euro dollar is leaning lower within a lower range, after more weak European data and before the highly anticipated Non-Farm Payrolls. The boost given to the pair by Draghi faded out. French, Greek and also local German elections are scheduled for the weekend and traders might clear positions ahead of all this risk. How will the pair end this turbulent week?

Here’s an update on technicals, fundamentals and what’s going on in the markets.

Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-may-4-leaning-lower-before-non-farm-payrolls/"]EUR/USD Leaning Lower Before Non-Farm Payrolls[/URL][/I][/B]

Mario Draghi sticks to the baseline scenario of recovery in the second part of the year, and doesn’t really hint about any move. The president of the ECB meets the press in Barcelona after the ECB left rates on hold as expected.
No discussion about interest rates.
Monetary expansion is subdued.
Baseline scenario of recovery in H2 remains unchanged: no rate cut.
Inflation risks are balanced: inflation due to energy prices: will remain above 2% in 2012 and will fall later on.

Read the rest of the article [B][I][URL="http://www.forexcrunch.com/ecb-press-conference-live-blog-8/"]Draghi Still Sees Recovery Coming – EUR/USD Jumps[/URL][/I][/B]

The ECB meeting are held in Barcelona, under heavy security. Mario Draghi and his colleagues aren’t expected to change the interest rates nor announce another LTRO.

But hinting about future plans is certainly possible. EUR/USD is in the middle of the narrowing channel after a failed attempt to break higher. Will it break lower?

Read the rest of the article [B][I][URL="http://www.forexcrunch.com/will-draghi-hint-about-a-rate-cut-and-send-eurusd-below-range/"]Will Draghi Hint About a Rate Cut and Send EUR/USD Below Range?[/URL][/I][/B]