The euro weakened vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3225 level and was capped around the US$ 1.3380 level. Technically, today€™s intraday low was just above the 23.6% retracement of the move from $1.6040 to $1.2330. The common currency retraced some of its intraday losses after the release of U.S. March producer price inflation data that saw the headline index decline 1.2% m/m after climbed 0.1% in February. The core PPI index fell to 0.0% m/m from +0.2% in February. These data indicate pricing power at the factory gates remains quite weak, particularly with the headline index off 3.5% y/y. Other data released today saw March retail sales decline 1.1% m/m, defying expectations of a 0.3% increase, while February€™s tally was upwardly revised to +0.3%. Traders await remarks from President Obama and Federal Reserve Chairman Bernanke during the North American session. Goldman Sachs€™s confirmation that it earned about US$ 1.6 billion in profit in Q1 was received in a lukewarm fashion by dealers. Attention now focuses on Citigroup€™s, JPMorgan Chase€™s, and Morgan Stanley€™s earnings. In eurozone news, the German government will decide on 21 April whether or not it will establish a €œbad bank€ to absorb banks€™ illiquid assets to restart lending activity and help remove toxic assets from banks€™ balance sheets. Data released in France saw the February current account deficit narrow to ‚¬2.2 billion. Euro bids are cited around the US$ 1.3100 figure.