[achiever]

The dollar is broadly lower as US stocks are falling after an oil company and aircraft manufacturer predicted lower earnings and GM was told to prepare for bankruptcy (per NYTimes). Still, the VIX volatility index fell under 40 Friday and remains there, for only the 4th day this year, a sign of improving sentiment and higher risk appetite. AUD has neared .7300 for the first time since early January as the CRB is up 9.3% since equities hit bottom (copper a 5 month high). China news has sparked hope that it could lead the global recovery, and is risk positive: Beijing reportedly plans more stimulus; China's March industrial production rose 8.3%, more than 6.5% expected; the trade surplus tripled, though exports fell for the 5th straight month; car sales hit a record high in March; and credit growth is surging. Euro/dollar has edged over 1.3350 to a one week high this morning in thin holiday trading, traders citing stop/loss buy orders. It traded near 1.3100 earlier on word the Irish government may take a controlling stake in an Irish bank. While GBP, CAD and CHF are benefiting from the USD sell-off, dollar/yen is holding over 100, albeit barely. This week's US data include inflation, retail sales, and regional Fed PMI's, the latter two potentially a reminder of US economic weakness and USD negative. Euro technicals are still negative, targeting 1.3148, unless it takes out 1.3423 resistance.