The Dollar gained little ground today as it advanced versus its G-10 rivals. DXY support at 74.90 held firmly again today as the index gained before closing at the 75.303 handle. The EUR was pushed lower as ECB President Trichett applauded the Fed’s Ben Bernanke’s strong Dollar comments made day prior.
The Asian and London session saw traders take profits as they finished the day marginally lower following yesterday’s rally. Gold continues to make headlines as it closed up a $1 to 1,140.20 while Oil continues to consolidate just below $80.
There was a flurry of U.S economic data released today. The 2 releases that will capture headlines are the PPI print which continues to show a lack of pressure on price. The other release which surprised the analysts was the Net TIC Flows. Expectations were for $30 billion but the figure came in at $40.7 billion. CPI’s are set to print tomorrow in Canada and in the U.S. In the U.K, BOE Meeting Minutes will be published.
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