Economists at ING analyze USD outlook ahead of Initial Jobless Claims and the Services ISM index figures.

Dollar will hang onto recent gains barring a significant rise in Claims or a big dip in the Services ISM

The focus today will be on the Initial Jobless Claims (these have been moving markets) and the Services ISM index. Barring a significant rise in claims or a big dip in the Services ISM, it looks like the Dollar will hang onto recent gains into what should be a decent US July Nonfarm Payrolls report on Friday.

DXY could grind its way toward the 103.50 area.