FX Closing Comments

Today was another rough one for the Dollar. The poor sentiment and negatively trending Dollar pairs were not helped by today's slightly soft retail sales numbers, which were released a day before the more important trade numbers that are expected tomorrow morning. It would seem that even strongly bullish Dollar traders were leery to be caught long the Dollar before tomorrow's important trade release. This is especially true, given the current trends. The trade data is due 1st thing tomorrow and expected near -$68b for March. A number significantly worse could add fuel to the fire. The follow-up treasury inflow data is due next week.