The US dollar had another mixed performance, as it gave up ground to the comdolls but was able to hold steady against the European currencies. There were no major reports out of the US economy yesterday while today has PPI and retail sales readings due. Headline consumer spending is projected to rise by 0.1% while core retail sales could show 0.4% growth. Headline PPI is slated to rise by 0.3% while core PPI could post a 0.1% uptick.

The euro advanced to the yen but was no match to comdoll strength. Medium-tier data from the euro zone simply came in line with expectations but the shared currency suffered a bit of selling pressure when the IMF mentioned that Greece’s debt levels are unsustainable. The French final CPI and euro zone industrial production report is due.

The pound was able to recover against most of its peers when UK inflation reports beat expectations. Headline CPI jumped from 0.3% to 0.5% while the core CPI climbed from 1.2% to 1.5%. The RPI also beat expectations but PPI fell short. There are no major reports due from the UK economy today.

The franc tossed and turned against its forex rivals, as the lack of data from Switzerland kept it functioning as a counter currency. There are still no reports due from the Swiss economy today.

The yen gave up its recent gains when risk appetite improved in the forex market. More Japanese officials have been supporting the idea of currency intervention, forcing some traders to close out their long positions. Japanese PPI data is due today and a 3.5% drop is eyed.

Commodity Currencies (AUD, NZD, CAD)
The Loonie enjoyed a strong boost from reports that Saudi and Russia already reached a deal to freeze output ahead of the Doha meetings. The report also mentioned that the source said that this agreement could push through even without Iran’s participation. The BOC statement is due next and no changes to policy are expected. US crude oil inventories data is also due.

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