The greenback is lightly lower today and looks to be setting up for another drop ahead of the retail sales report. The technicals continue to do the talking, and they are very much similar to the situation yesterday here:
- EUR/USD stays on the more bullish course for now
- GBP/USD looks to build on last week's breakout move
- USD/JPY holds the key to unlock the next big dollar drop
- USD/CHF retains downside bias after falling through the floor
- Aussie slightly lower after China GDP data earlier
We might be in for a quieter session in Europe, awaiting the big data. But do be reminded that the dollar remains in a particularly vulnerable spot right now and could see a further downside extension with sellers still in control.
