FX Closing Comments

The Dollar had a good day today, possibly as result of safe-haven buying. The significant retail sales figures for June were down sharply against expectations, though excluding automobiles, they were up .3%. Most of the ex-auto gains, however, were due to rises in service station receipts. Even still, the Dollar Index was up 27 ticks,posting gains against all the majors except the Canadian Dollar. The Loonie experienced small gains on the most recent spike in energy prices. A significant figure for next week will be the TIC or capital inflow data from the Treasury, which is thought to be soft according to reports on Japanese treasury purchases and the Fed's custody report. The figures are due on Tuesday.