[AndrewWoo]

EUR: ECB forecast - no rate cut. Above 1.4020/50, EUR should trend higher and have an initial target of 1.4180 before 1.4400.

CAD: If you look at the EUR/CAD or GBP/CAD crosses, those have only moved 3-4% while USD/CAD has moved nearly 10% since making the lows. CAD should outperform against the US dollar

Brazil: Bullish due to the Carry nature, the growth prospects for 2009/2010. BRL will outperform.

US: 7ry auction went well, fixed income and equities rallied and the correlation of better risk sentiment and a weaker US dollar came back in vogue overnight. The FED also announced that it will be trimming back its emergency programs. Bernanke got grilled yesterday by Congress but the overall market reaction has been somewhat positive.