Next week trader's attention will be focused on Ben Bernanke's confirmation, US GDP, and the FOMC. If Ben is unable to get confirmed for another term as Chairman of the Federal Reserve Board, I expect the news to be dollar bearish. Primarily because of the uncertainty that would ensue from such a result. Coupled with Obama's new bank regulation proposals, and a floundering economic recovery, the US dollar will give back some of the gains. The US GDP is expected to have grown by 4.5% last quarter, this may seem a bit optimistic but retail sales did increase in the last three months, and the trade deficit declined.
