USD Trading Outlook (16-05-2012)

The US dollar (USD) appeared strong versus a basket of currencies as Retail Sales grew at a slower pace and Business Inventories decreased in April. The seemingly constant threat of Greek leaving the eurozone and its potential domino impact, heightened risk aversion and favored risk haven buying of the greenback for yet another day. Against the Canadian dollar (CAD), the US dollar rose to 1.0070 from 1.0022. Versus the Swiss franc (CHF), the greenback surged to 0.9431 from 0.9360. Market participants are expected to tune in on the Federal Open Market Committee (FOMC) Minutes release due at 18:00 GMT, later today.