The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3545 level and was capped around the $1.3625 level. The common currency did not have a major reaction to news that Greece successfully sold €1.2 billion in 26- and 52-week treasury bills - the first debt auction since the European Union and International Monetary Fund jointly announced a financial aid package for Greece this weekend worth up to €40 billion. The big question among traders is whether or not Greece will be forced to tap its aid package. A lackluster day in U.S. equities also prevented the common currency from making significant moves. Many dealers believe the euro's upside will be challenged in the medium-term by sub-par economic growth. European Union officials will deliberate stricter fiscal surveillance later this week to try and avoid a repeat of the Greek situation. Eurozone February industrial production will be released tomorrow and the European Central Bank will release its April monthly report on Thursday. German data released today saw the March headline consumer price inflation number print at an unchanged +0.5% m/m and +1.1% y/y and were up 0.6% m/m and 1.2% y/y on a harmonized basis. Also, the March wholesale price index was up 1.3% m/m and 4.3% y/y. Other data saw the French February current account print at -€3.6 billion while the March consumer price index was up 0.5% m/m and 1.6% y/y. In U.S. news, data released today saw the March NFIB small business optimism index recede to 86.8 while the February trade balance worsened to -US$ 39.7 billion with the March import price index up 0.7% m/m and 11.4% y/y. The March consumer price index, March retail sales, and Fed Beige Book will be released tomorrow. Fed Chairman Bernanke will speak later today and may use the opportunity to tweak some policymaking language, including the term extended period in reference to the probable length of time the Fed will keep rates low. There is also a chance that Fed officials could give more information about a likely request from regional Fed banks to raise the discount rate. Euro bids are cited around the US$ 1.3175 level.