Wait and See

Markets extremely quiet today as it being the last day of the month (traditionally quiet as dealers try to preserve profits or move on to next month if trading has been bad), economic numbers (Personal Income -2.3,PCE Deflator 2.2,PCE Core 1.6) basically as expected, and a major snowstorm about to hit the east coast.

The bigger picture is that the dollar has grinded lower for a number of days now. No large moves rather a slow steady move. We continue to look to tomorrows rate decision in Australia. 25 basis points are expected. Pay close attention to the comments as it will give direction on future moves and likely direction on the currency.