FX Closing Comments

FX markets were, for the most part, tame today. A little soft inflation data in Europe and marginally firmer housing data, kept the Dollar flat and the Euro down. In the aftermath of today's housing release (down .5% for August), the market chatter is now about a "soft landing." The 2nd part, new home sales for August, will be unveiled on Wednesday and tomorrow we have consumer confidence, which is expected to slide only modestly to 104. The Dollar Index has been treading water, though not sinking, for the past two days.