Session Recap: Dollar trades lower as US stocks bounce

FXstreet.com (Córdoba) - Markets have steadied after yesterday's sharp sell-off in stocks and commodities. The US dollar trades mixed, with EUR/USD reaching fresh 7-week highs despite soft eurozone data and USD/JPY regaining 98.00 after wild moves. Commodity currencies trade higher while the pound rose above the 1.5300 mark.

In stock markets, even though European indexes remained in negative territory, Wall Street stocks recovered sharply encouraged by US housing data, metals bounce and better-than-expected earnings from some blue-chip companies.

Main Headlines in Europe (in chronological order):

UK: Annual CPI unchanged at 2.8% in March

UK: Annual PPI – Output rises 2% in March

UK: Retail Price Index climbs 0.4% in March

EMU: Annual CPI - Core up 1.5% in March

Germany: ZEW Survey – Economic Sentiment down to 36.3 in April

Spanish borrowing costs fall at debt auction

Fundamental Morning Wrap: Boston horrors overshadow Golds collapse

Euro extends its consolidation further

Central banks grapple political reprisal amidst mounted easing

European markets fall, US futures set for a rebound

European Commission intends to advance Cyprus structural payments
US: CPI rose 1.5% in March

US: Building Permits dropped to 902K in March

US: Industrial Production beats consensus, at 0.4% in March

Commodities Brief – Precious metals begin path to recovery, gold testing 1400

American equity markets recover Tuesday

IMF cuts global growth for fourth consecutive time, European recession likelihood 50%

Draghi sees gradual Eurozone recovery in 2H 2013