The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3550 level and was capped around the $1.3710 level. The common currency was unable to gain much traction despite a solid ten-year bond issuance from Greece that was well-received by international investors and traded higher in the market. Greek officials suggested it will issue two more tranches of debt over the coming months and refinance the remainder of its debts maturing this year. Greece is still expected to receive financial assistance from Germany and possibly from other eurozone members as it continues to contain its massive debt crisis. As expected, the European Central Bank kept its main refinancing rate target unchanged at 1.0% today. ECB President Trichet cautiously reported The economic recovery in the euro area is on track and added he expects economic growth to expand at a moderate pace this year. Trichet also noted Greece's progress has been positive. Data released in the eurozone today saw Q4 gross domestic product unrevised at +0.1% q/q and 2.1% y/y, down from +0.4% q/q in Q3. In U.S. news, data released today saw Q4 non-farm productivity climb 6.9%, up from the prior reading of 6.2%, while Q4 unit labour costs were off 5.9%, lower than the -4.4% reading. Also, weekly initial jobless claims came in at 469,000, down from an upwardly revised 498,000 the previous week, and continuing jobless claims printed at 4.500 million. Additionally, January factory orders printed at 1.7%, up from a revised 1.5%, while January pending home sales were much weaker-than-expected, off 7.6% m/m and up 8.8% y/y, both below expectations and December's readings. Traders will be closely watching tomorrow's February non-farm payrolls report with many forecasts calling for jobs losses of 65,000. Euro bids are cited around the US$ 1.3335 level.