The USD (US dollar) continued to receive more bad news today as the ISM Manufacturing Index and Prices both came in lower than expected.  The EUR/USD jumped quickly to 1.28 before settling down later in the day to the 1.2760 range, retracing all of the quick run-up.  Non farm payroll data is set to be released in two days and this may account for some of the hesitancy for dollar bears to continue.

 Look for the dollar to continue to range until we get to Friday's NFP release. 

The Core PCE Price Index came out at the expected .2% level today, and the EUR/USD made very little movement though it did briefly touch 1.2700.

Interesting data comes out tomorrow including the US Consumer Confidence report, but the bigger news should be on Wednesday with the release of the ISM Manufacturing Index and Prices as well as a speech by Bernake.

There was more bad news for the US dollar today and the currency hit a four week low.  The GDP came in at 1.6%, below the expected 2.0% and lower than the previous 2.6%.

 The decrease in the dollar came after weeks of bad news for the USD.