U.S. Dollar Trading (USD) had a mixed day of trading as US stocks finished flat and early gains against the Euro where short-lived. Profit taking on commodities however, did see their recent rallies pared back. Focus on the US financial Regulation overhaul added pressure to US banking stocks. In US stocks, DJIA +1 points closing at 11205, S&P -5 points closing at 1212 and NASDAQ -7 points closing at 2522. Looking ahead, February Case Shiller forecast at 1.2% vs. -0.7% previously. Also released, CB Consumer Confidence is forecast at 53.5 vs. 52.5 previously.
The Euro (EUR) was sold initially from Fridays close as the market responded to political uncertainty regarding the Greece Bailout in Germany. Supportive comments later from Merkal and other German Lawmakers saw the Euro rally strongly into the US Close with 1.3400 resistance the key target. Overall the EUR/USD traded with a low of 1.3291 and a high of 1.3417 before closing at 1.3410. Looking ahead, May Gfk Index forecast at 3.3 vs. 3.2 previously.
The Japanese Yen (JPY) struggled above Y94 as crosses found resistance and stocks markets in the US failed to maintain gains. AUD/JPY tested resistance in the Asian session and EUR/JPY rebounded off lows but closed well off highs. Overall the USDJPY traded with a low of 93.84 and a high of 94.38 before closing the day around 94.05 in the New York session.