The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4900 figure and was supported around the $1.4825 level. U.S. equity markets added to recent gains and this prompted more risk-taking in higher-yielding currencies, sending the common currency higher. Data released in the U.S. today saw the September trade deficit widen to -US$ 36.5 billion from a revised August total of -US$ 30.8 billion while the October import price index was up 0.7% m/m and off 5.7% y/y, both lower than expected. Also, the mid-November University of Michigan consumer sentiment indicator fell to 66.0 from 70.6 the prior month. Some dealers are already speculating that Federal Reserve Chairman Bernanke's speech on Monday will be dovish and could precipitate additional dollar weakness. PIMCO is now predicting the Fed will not increase interest rates until the end of 2010 at the earliest. Chicago Fed President Evans said the Fed should not adopt policies to prick perceived asset bubbles. In eurozone news, EMU-16 gross domestic product data revelated the economy expanded 0.4% q/q in the third quarter after declining 0.2% in the second quarter, representing the bloc's first quarter of economic growth in 1.5 years. On an annualized basis, GDP growth was off 4.1% y/y from 4.8% y/y in the second quarter. German Economics minister Bruederle reported no 'all-clear' can yet be given on account of the serious financial and economic crisis. ECB member Weber pessimistically reported overall growth will be more sluggish over the ecoming years. I caution a bit that the speed limit for the euro-area and German economy won't beat the 1.5 percent we were used to. It will be more below 1 percent. German real GDP was up 0.7% q/q. Euro bids are cited around the US$ 1.4445 level.