Dail FOREX Wrap-Up

Dollar bulls prevailed this morning heading into the holiday weekend. With the release of the US Personal Income and the Durable Goods Reports for November, a short term Dollar bull has been sited. The price index for personal consumption expenditures (PCE) excluding food and energy came in at 2.2% in November, a number a bit lower than the 2.4% climb registered in October. Consumer spending and personal income showed increases last month up to $50.5 billion or 0.5 percent. Personal income increased $33.8 billion or 0.3 percent this data from the U.S. Commerce Department is generally considered a healthy sign. Looking a bit into the future, throughout the next week and up to the start of 2007, we should see smaller range bound trading but, with lower volume there is always the possibility that a big swing could occurred. This normally keeps professionals form trading in lower liquidity. Currently the EUR/USD is trading at 1.3140 with an hour to go before the close. Have a happy holiday weekend.