FX Closing Comments

FX markets were tame today and the status quo seemed to hold for most pairs. Although the Dollar received some bullish data in the morning (factory orders were up 4.2% for March and the ISM service index was up to 63), the greenback has unmoved. This can be seen as a bearish sign (when good news is met with silence). Tomorrow will bring us weekly jobless claims, productivity figures, and euro-wide retail sales. Both the Bank of England and ECB are meeting tomorrow, however no change in rates is expected.