Bullion prices saw a modest recovery Thursday as Chinese officials at the G8 made renewed criticism of the US dollars dominance as a reserve currency. EUR/USD rallied to 1.4072 at one point while the DXY closed the day down 0.7% with commodities as a whole gaining with the CRB Index up 1.4%

The euro came off vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4000 figure and was capped around the $1.4150 level.

An extremely bullish day for the equity markets pushed investors back to riskier assets and away from the safe haven USD and JPY, causing them to plummet against their riskier counterparts. The rally in equities along with a weak Dollar has also helped push Oil prices above $73 for the first time in over a week.

Many assumptions about economic and financial market performance have been shattered in the 2 years since the global credit market crisis started.

Unpopular Japanese Prime Minister Taro Aso may face a struggle to keep his job after his ruling bloc was soundly defeated in a weekend Tokyo election seen as a bellwether for a national poll to be held within three months.

EUR. The pre-planned break-out variant for buyers has been implemented with overlap of minimal anticipated target.

Slightly Bullish Hourly Sentiment is Seen in the Immediate-Term as Price finds Dynamic Support at The Daily Pivot @ 1.3983 inside of the larger Hourly Bull Flag Formation.

Euro's recovery against the US dollar on yesterday fails to suggest much and a clear breach above 1.4045/50 is required to signal a resume of the uptrend.