U.S. Dollar weakens after Euro Breaks Technical Level
The U.S. Dollar is trading lower overnight against all major currencies. Investor demand for higher risk assets has been the driving force along with short-covering. Economic releases have played a limited role in this week’s Dollar movement. However, this may change today following the release of the U.S. Retail Sales Report and Consumer Sentiment.
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Technical Factors Could Trigger Stock Market Rally
Stock indices could rally today following yesterday’s closing price reversal bottom. A friendly Fed statement and an upbeat speech from Obama could be the catalyst behind this rally. Investor confidence seems to have been restored which has once again generated interest in higher risk assets.