Dollar weakens

The dollar weakened versus most of the currencies due to mixed data coming out last night. Consumer data of personal spending and personal income rose, as well as the Chicago PMI which beat expectations. On the other hand the Dalla fed’s current activity index and the Milwaukee PMI declined.

Euro strengthened on the back of the higher CPI estimate which came in higher at 2.40%.

Sterling too took out stops above 1.6050 this morning hitting a high of 1.6073. there seems to be some offers from here up to 1.6100 and stops above the figure.

Data today

UK PMI Manufacturing – 9.30am GMT

UK Net Consumer Credit – 9.30am GMT

German PMI Manufacturing – 9am GMT

German Unemployment rate – 9am GMT

Eurozone PMI Manufacturing – 9am GMT

Eurozone Unemployment Rate – 9am GMT

US Construction Spending – 3pm GMT

US ISM Manufacturing – 3pm GMT