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mild day today so far...

Biggest % gainers: USD/TRY up 0.30%, USD/SGD, NZD/USD, GBP/AUD, no distinct trends here.

Biggest % losers: EUR/JPY down 0.58%, EUR/CHF, EUR/NZD on mild EUR weakness.

Gold $1,192
Oil $72.67

Central banks are selling gold to the BIS (Bank of International Settlements) in droves right now! These countries need to raise cash and so selling some of their gold that has appreciated nicely is a way to do that. How much gold have they sold? They've sold 349 metric tons of gold since December which raised $14 billion for these central banks.

The Baltic Dry Index has cut in half in the last 30-40 days showing that global trade is collapsing once ...

Biggest % gainers: AUD/JPY up 1.13%, GBP/JPY, AUD/CHF, AUD/USD predominately on AUD strength. GBP stronger on better/ higher than expected CPI readings.

Biggest % losers: EUR/AUD down 0.93%, EUR/CAD, USD/CAD, EUR/GBP on EUR weakness and CAD strength as they keep rates on hold, but bullish comments followed the announcement.

Canada's central bank removed their conditional statement to keep rates steady until the end of June (which hints at rate hikes the following month). They also said that it was appropriate to start to lessen the degree of monetary stimulus (which shows that they feel things are improving enough economically). They also stated that the economic recovery has been somewhat more rapid than expected. ...

Biggest % gainers: USD/CAD up 1.52%, USD/CHF up 1.12% on dollar strength.

Biggest % losers: NZD/USD down 1.69%, EUR/USD down 1.05%, CHF/JPY, AUD/USD, EUR/JPY, AUD/JPY on USD & JPY strength. NZD CPI came in worse yesterday which toned down the thought of rate hikes.

Oil $77.87
Gold $1,120

USD & JPY up as China curbs lending once again! Yen, Dollar Rise, Stocks Fall as China Curbs Bank Lending - Bloomberg.com

Some also speculate that the dollar is rallying as a Republican wins the Mass. seat which hurts the passage of Obama's health plan. Remember, currencies don't like major changes, especially when they could be an economic weight upon an economy. News is boosting ...

Biggest % gainers: USD/JPY up 0.77%, USD/CHF, AUD/JPY, AUD/CHF, AUD/NZD on mild Aussie strength as they blew out their retail sales numbers to the upside last night. Now more traders are thinking rate hikes might be back on the table.

New Japanese Finance Minister says he'd like to see the yen weaken to 95 (on USD/JPY). Kan Rewinds Stance on Yen Policy to Avoid ?Fatal Blow? to Japan - Bloomberg.com

Biggest % losers: NZD/USD down 0.50%, GBP/USD, EUR/USD on mild USD strength. No very strong movers either way this morning but that's typical as we approach the Non-Farm Payroll numbers on Friday.

Central Bankers meet this weekend in Switzerland with Private Banks to discuss regulation: Central Bankers to Gather With Private Banks at BIS (Update4) - Bloomberg.com ...