USD Dollar (USD)

The Dollar weakened versus most majors after gains in stocks and the Trade Balance that showed a deficit of -36.5B wider than -31.8B expected. Michigan\'s Consumer Sentiment came out worse than expected dragging the Euro and Pound lower, but stock market gains pumped risk appetite back up. NASDAQ and Dow Jones gained by 0.88% and 0.72% respectively as better earnings and company mergers led to gains. Crude declined by -0.77% closing at 76.35$ a barrel and Gold (XAU) resumed gaining with 0.91% rise closing at 1116.1$ an ounce. Today, Retail Sales are expected better with 1% versus -1.5% prior and Core Retail Sales are expected slightly worse with 0.4% versus 0.5% prior. Fed Chairman Bernanke and FOMC Member Kohn will speak today.


EURO (EUR)

The Euro gained versus the Dollar on Friday after gains in stock markets led risk appetite higher causing investors to ignore weak economic data. German Prelim GDP came out weaker with 0.7% versus 0.8% expected and European Flash GDP came out 0.4% versus 0.6% expected. EUR/USD traded with a low of 1.4824 and with a high of 1.4937. Today, European CPI and Core CPI are expected unchanged with -0.1% and 1.2% respectively.


Resistance

1.4955

1.4985

1.5015

Support

1.4825

1.4800

1.4710