EUR Strength Based on Strong CPI

EUR is strong due to it beating it's CPI projection 1.9% vs 1.8%. This is in contradiction to Draghi's speech. USD missed on GDP data this morning 0.7% vs 1.2%. So we can expect some weakness for USD. There is also a budget debate occuring in the United States today. This could lead to further weakness. Since it is Friday be wary of profit taking.