Last Friday release of June US consuming sentiment has shown a continued improving of the consuming apetite the final number of June came at 70.8 and it was 68.7 in May and US personal income which has come strongly better than the market forecasts of just .4% at 1.4% in May but These figures have not made a considerable change of the greenback current tight ranges of trading. Dow has lost 34 points in its last session to close at 8438 with no major change of its opening.

The Fed's come out last week with a new US assessment downplaying the deflation risks with no new added easing steps of its quattitive easing policy.

The US Q1 final reading came better than expected at -5.5% while the market was waiting for -5.7% to add a relative strength to the greenback which was actualy underpined by The fed's decsion of not adding further easing steps of its quattitive easing policy yesterday. The fed has not mentioned the deflation risks as it has done it its April meeting and the concerns about the US treasuries attractivness amid rising of the comodities and energy prices seemed caping the Fed as By god's will, if these huge Fed's quatitive easing steps could cause the inflation preasure which can hurt the demand for the US treasuries, this can lead to a hike of the interest rate and tackling of further easing steps of the current quantitive easing policy of the fed to add some attractivness to the US treasuries to convince the bonds holders to keep their holding of US debits to prevent a second round effect of the credit crisis by the this current waited halting recovery.

The British pound could get rid off the pressure of the recent disappointing release of May retail sales which were expected to ease monthly to .4% from .9% in April and yearly to -.1% from 2.6% in April but they have slumped by .6% monthly and 1.6% yearly. The cable lost about 2.5 figures but it could find support again at 1.6200 area. The cable could rally to 1.65 by the end of the week but it could be sustained closing above this level which looked as a good chance to sell it again with no serious change of the current market sentiment toward it. The main resistance area currently is between 1.662 whereas it has fallen on 11th of this month and 1.666 whereas it has fallen on 3rd of this month and the way down is expected to meet an intermediate support at 1.6375 then the main support level currently at 1.62 level and the breaking of it can lead to a test of the psychological level at 1.6 and the breaking of it can expose the cable recent main low at 1.58 to be tested again as a support.

The British pound came under pressure across the broad after the release of UK retails sales which were expected to ease monthly to .4% from .9% in April and yearly to -.1% from 2.6% in April but they have fallen by .6% monthly and 1.6% yearly. The cable lost about 2.5 figures reaching 1.6209 again after the data. The cable has found support at this level several times and if this weak consuming data could contain the market sentiment, this can lead to a breaking of it which can expose to 1.60 psychological level to be tested as a support. The British pound was supported this week by the release May UK CPI which has increased by 2.2% y/y while the market was waiting for just 1.9% and the monthly figure came up to .6% from .2% in April while the market was waiting for .3% showing inflation creeping up in May.