Majors are still on the rise as abrupt financial markets ear seems to be starting to subside as things go back to normal in world markets. The upbeat retail sales for the US last night helped indices climb today after the US lead; carry traders are once pushing majors the upside providing enough momentum to breach faced levels.

The euro continued the upside rise as the monthly bulletin for the ECB did not much add to what Mr. Trichet has already stated in his press conference, while the GDP came slightly above expectations; nevertheless the euro continue to achieve upside targets against the dollar and is now heading to attempt breaching the strong levels ahead at 1.4630s; the euro managed to base above the 1.4550s today after setting the low at 1.4548, and the high was close to the potential barrier ahead at 1.4633.

UK provided us with much vital data this week and had it over and done as their fundamental skies freed up for this week; still empowered by fading expectations of a March rate cut the pound continues to incline after it manages to consolidate above 1.96s once more; the headings are now towards 1.9720s as the first target as the highest set was at 1.9718; ahead in the US session we await trade figures as the December deficit projected to have shrunk and not much of a reaction will it have as its overdue and the major impute change is from oil trade and that does not provide much to currencies.

The yen now is still driven by the strong risk sentiment; despite a much stronger than expected GDP the queue was taken more to borrow the yen again in exchange of higher return as we can see the currency loosing ground against it three major rivals; it is still trading tight against the dollar yet the fact that the pair breached up above 108s then the upside target are in the green, now the pair is attempting the 108.30s, then 108.90s to then all the way to 110s once again.