The pound fell versus the dollar this week in response to weaker than expected services and construction PMI data. Manufacturing data was surprisingly strong on Tuesday and Thursday, but investors refused to bite and GBP/USD fell below the 1.58 level. The USD was generally strong, despite US non-farm payrolls printing weaker than expected on Friday. The figures showed that 214,000 private sector jobs were created in the US in October, against forecasts for an increase of 256,000. Aside from this the report was strong, with participation rate increasing, so GBP/USD found good support at 1.58. Meanwhile the euro gapped lower on Thursday in reaction press conference on the ECB monetary policy announcement. The bank left interest rates unchanged but moved a step closer to quantitative easing. President Mario Draghi hinted that the governing council was unanimous on implementing more stimulus if the current measures failed to revive a flagging economy. By Alex Edwards at UKForex, an international money transfer service With the eurozone economy having ground to a halt, and inflation running dangerously low, it seems that full-blown QE is moving closer and closer. Next week’s eurozone GDP figures will be pivotal here. It’s becoming clear that should Germany slip into technical recession, the ECB may decide the time has come to pull the trigger and start buying government bonds. Next week will be a big week for the pound, with both employment and average earnings data due on Wednesday. If average earnings data is still struggling to keep up with the low level of inflation, it’ll be another kick in the teeth for the GBP bulls. The Bank of England inflation report is also due, followed by comments from governor Mark Carney. There isn’t much by way of market moving events due from the US, due to Veteran’s Day on Monday. In our latest podcast, we preview the NFP, run down the ECB, talk about the huge Japanese move, preview the UK and also talk about Brazil: Download it directly here. Subscribe to our podcast on iTunes. Guest Guest View All Post By Guest Forex News Today: Daily Trading News share Read Next Market Movers Episode #23: ECB rundown, the yen sell-off Yohay Elam 8 years The pound fell versus the dollar this week in response to weaker than expected services and construction PMI data. Manufacturing data was surprisingly strong on Tuesday and Thursday, but investors refused to bite and GBP/USD fell below the 1.58 level. The USD was generally strong, despite US non-farm payrolls printing weaker than expected on Friday. The figures showed that 214,000 private sector jobs were created in the US in October, against forecasts for an increase of 256,000. Aside from this the report was strong, with participation rate increasing, so GBP/USD found good support at 1.58. Meanwhile the euro gapped lower… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.