Tuesday was a generally quiet day for the US Dollar. With the continued momentum from the Non-farm employment data released last Friday, the American currency has seen further strength as the euro continues to weaken. We had minimal data released Tuesday, with Job Openings coming out as expected and thus having no real effect on the market.
Today we see the release of Crude Oil inventories, and Bank stress Test results. The latter is expected to have more of an effect on the market, as it tests US banks with certain fictional market conditions to see how they cope with that pressure; it will be interesting to see which banks pass this test, which don’t and the improvements that they would have to make. The main focus for this week however will be tomorrows Retail Sales for the US, which are expected to show the first positive figures for three months.