USD to trade higher spurred by failing oil prices

Falling oil prices and support to the greenback by Russias finance minister is making the USD trade higher. MAJOR HEADLINES – PREVIOUS SESSION US University of Michigan Confidence out at 69.0 vs. 69.5 expected vs. 68.7 prior read. US Treasury Geithner spoke at the G8 news conference in Italy. BOJ Monetary Policy Meeting Norwegian Trade balance (MAY) out at 22.2B vs. 24.4B prior read (revised lower to 23.9B) Euro-Zone Employment QoQ (1Q) out at -0.8% vs. -0.3% prior read (revises lower to –0.4%)