Folks, please take the time to get up from your chair and walk to your window and take a look outside? What do you see? The sun, rain, sleet, or snow? Then return to your desk and we will wait for you.

OK, thank you for taking a look outside. We suggested the above because many analysts want you to believe that the only reason the GDP in the U.S. was so much weaker was because of bad weather in January. Oh wait, yes, that’s right, suddenly the GDP is not being looked at as a forward looking measurement. It is being gauged as a climate change barometer. Yes, we are exaggerating but it is to make a point, U.S. policy makers are still trying their best to sell sunshine and like a used car salesman they will always find a buyer.

U.S. stocks continue to maintain their upper realms although the major indexes have stumbled some this week. The EUR has kept above support levels, but as of yet has not put a real challenge into resistance levels. The FX markets continue to put pressure on the USD, particularly via the GBP, JPY, and AUD which continue to show strength.

The EUR may languish here because the ECB may not have another way of jump starting the European Union’s overall economy except hand out (force banks) money to borrowers. Unfortunately, the borrowers of Europe still have many hurdles to jump in order to qualify for loans considering that consumers do not exactly seem to be opening their wallets freely.

Consumer data came from the U.K. and U.S. on Thursday with more in the way of lacklustre reports. But lackluster is the ‘new good’. Because the U.K. and U.S. are the two spheres economists are pointing to as having turned the corner all too frequently. It should be mentioned that Japanese consumer figures via the Household Spending data also slipped per a report earlier this morning.

German inflation data will be published soon. French Consumer Spending will also be released. And later today the States will see the University of Michigan’s Revised Consumer Sentiment reading.

Traders must continue to follow trends and use risk management wisely. Gold has stayed on the stronger side of its value. Speculation remains a powerful motive within the precious metal and many commodities. Going into this weekend investors will note that next week is the Independence Day holiday on Friday, meaning the Non-Farm Employment Change numbers will come out on Thursday. Range trading remains advantageous.