After shaking off the reins of congestion this past Friday, euro traders will jump on the opportunity to develop this momentum into a trend.

The top release for the UK calendar next week is the first quarter GDP report scheduled for release on Friday.

The Japanese yen is likely to fall in with trends in risky assets in the week ahead as the economic calendar offers little that has already been factored into the exchange rate.

Economic reports released this week will let the market know if there's a light at the end of the tunnel.

The market, we keep hearing and reading, is telling us that there is recovery around the corner. And pundits point to data that seems to suggest the worst is behind us.

As long as the market’s fear the possibility of another crisis, the dollar will be coveted for its deeply liquid markets and the aggressive actions of the US government.

European macroeconomic trends point to further sharp contractions in regional economies, but bearish consensus forecasts for upcoming economic reports suggest that markets have largely discounted Euro Zone fundamental weakness.

Japanese economic developments have had relatively little effect on USD/JPY price action.

There are still significant downside risks for the UK’s economy and financial system.

The rally is on.  Enjoy it while it lasts.