FX Closing Comments

Across nearly all sectors and asset classes, markets were essentially flat today. The Dollar Index closed down 16 ticks, and kept to tight ranges against the other majors. U.S. equity markets, as well as bonds, were flat on the day. Housing start and building permit data were released early in the day, and were slightly surprising to the upside, although the expectation remains that housing prices will be falling later in the year. New and Existing home sales data is due next week. Remaining data for this week includes durable goods and the Conference Board's leading indicator index.