The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3415 level and was capped around the $1.3495 level. The common currency came off as traders digested many different economic data that were released today. First, the February eurozone current account printed at -€3.9 billion, wider than the revised prior reading of -€1.7 billion, while the EMU-16 April ZEW economic sentiment survey printed at 46.0, up from the prior reading of 37.9. Also, German March producer prices climbed to 0.7% m/m and -1.5% y/y while the April ZEW economic sentiment survey came in at 53.0 with the current situation survey improving to -39.2. These data signify that sentiment conditions are improving in the eurozone's largest economy but also evidence the dichotomy between improving eurozone economies and significantly overextended countries like Greece, Spain, and Portugal. In U.S. news, data to be released tomorrow include MBA mortgage applications and data to be released on Thursday include March producer price data, weekly initial jobless claims, and March existing home sales. Fed Chairman Bernanke defended the Federal Reserve's role in the Lehman Brothers debacle, noting the Fed did not have supervisory powers over Lehman. President Obama is expected to make a major speech this week in New York calling for regulatory reform. Chicago Fed President Evans reported the U.S. recession is definitely over and added U.S. unemployment will need more time to decline. Evans also said low interest rates are appropriate for now. Fed Governor Duke reported the outlook for commercial real estate is not very favourable. Dealers are also evaluating Goldman Sachs's stronger-than-expected first quarter earnings report today against the report from last Friday that the U.S. government is targeting them in a major fraud case related to the sub-prime mortgage crisis. Euro bids are cited around the US$ 1.3175 level.