The euro moved higher vis-Ã -vis the U.S. dollar today as the single currency tested offers around the US$ 1.3325 level and was supported around the US$ 1.3220 level. Risk appetite returned to the market ahead of Monday€™s release of banks€™ stress tests results in the U.S. There is speculation that Citigroup and Bank of America will be strongly encouraged to raise additional capital by the U.S. Treasury and there are whispers that four other U.S. banks may be forced to seek additional capital. Data released in the U.S. today saw the April ISM manufacturing index print at 40.1, up from 36.3 in March and above expectations. The prices and employment sub-indices also improved. Additionally, March factory orders were off 0.9%, March building permits were upwardly revised to -8.5%, and final April University of Michigan consumer sentiment improved to 65.1 from 57.3 in March. In eurozone news, European markets were closed for the May Day holiday. The European Central Bank is largely expected to reduce its main refinancing rate target by 25bps next Thursday and may announce some quantitative easing measures. Euro bids are cited around the US$ 1.2765 level.