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Biggest % gainers: EUR/USD up 0.66%, EUR/AUD, EUR/NZD, EUR/TRY on mild EUR strength.

Biggest % losers: USD/CAD down 0.63%, AUD/CAD, USD/CHF, USD/JPY on mild USD weakness and CAD strength.

Gold $1,224
Oil $75.89

GBP rallying amid speculation that the British Prime Minister may announce an "emergency budget" in a week that would contain huge deficit cuts.

GBP CPI y/y slightly worse than expected 3.4% vs. 3.5% expected. Last time was 3.7%.

GBP Core CPI y/y slightly worse at 2.9% vs. 3.0% expected and 3.1% last time.

EUR German ZEW Economic Sentiment much worse at 28.7 vs. 48.7 expected and 45.8 last time.

USD TIC ...

Biggest % gainers: GBP/USD up 1.24%, GBP/JPY up 1.22%, AUD/USD, AUD/JPY on GBP & AUD strength, JPY weakness.

Biggest % losers: USD/CHF down 0.83%, USD/CAD, USD/SGD, USD/ZAR on USD strength, AUD strength & emerging market currency weakness.

Gold $1,222.90 http://www.dailyfx.com/forex/fundame...sistance_.html

Oil $75.76

AUD Monetary Policy Meeting Minutes out tonight at 9:30pm EST.

Swiss Interest Rates come out on Thursday. Unchanged at 0.25% is what is expected.

Sean Hyman
DailyFX Forum Moderator

Biggest % gainers: USD/ZAR up 0.80%, USD/CHF on mild USD strength.

Biggest % losers: GBP/USD down 1%, GBP/JPY on GBP weakness and mild USD strength & on mild JPY strength.

GBP Manufacturing Production m/m worse -0.4% vs. 0.6% expected. Last time was revised lower to: 2.2% vs. 2.3%formerly.

GBP PPI Input m/m better at -0.6% vs. -0.9% expected. Last time was 0.5%.

USD Core Retail Sales m/m much worse at -1.1% vs. 0.1%. Last time was revised higher though to 0.6% vs. 0.4% formerly.

USD Retail Sales m/m much worse at -1.2% vs. 0.2% expected. Last time was revised upward to 0.6% from 0.4% formerly.

USD Preliminary University of Michigan Sentiment ...

Biggest % gainers: This is where the momentum is this morning! NZD/JPY up 2.79%, NZD/USD up 2.74%, AUD/JPY up 2.34%, AUD/USD up 2.30%, CAD/JPY on commodity dollar strength after New Zealand raised interest rates last night by a 1/4 point. JPY and USD are diving

Biggest % losers: EUR/NZD down 1.60%, GBP/AUD down 1.54%, EUR/AUD, USD/CAD on commodity dollar strength.

AUD employment improved overnight & NZD raised interest rates to 2.75% as expected.

Meanwhile the BOE & ECB both held interest rates unchanged as expected.

EUR ECB Press Conference (Trichet speaking) at 8:30am EST today.

CAD Trade Balance worse at 0.2B vs. 0.7B expected. Last time was revised lower ...