U.S. Dollar Lower

The U.S. dollar Index is trading lower Wednesday ahead of U.S. housing data is due out at 8:30 a.m. ET. Housing Starts for December are expected to be 1030K versus 1028K. Building Permits for December are expected to be 1050K versus 1035K.

However the predominant market talk is now coming out of Europe and the ECB policy meeting, as well as fallout from the SNB move last week. With President Obama’s State of the Union speech last night, there is plenty of chatter from all corners.

Market talk about the IMF’s increase to its U.S. GDP growth forecast this week is making the rounds. Additionally, the IMF said that if developed nations cannot increase growth further from monetary policy they should use other (unspecified) measures. Chatter about headline global conflicts is showing up.

March U.S. Dollar Index is trading at 93.03, down 0.31.

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