Overall, I don't see much structural change, and don't see how the dollar can get much relief from these numbers.

What's important here is that maybe a slowing U.S. economy directly translates into a lower dollar. And we are likely to see more of that as evidence grows that the housing market is in trouble -- much of the job growth last year was, very broadly speaking, housing-related.

Every day, foreigners need to acquire more than $2 billion in U.S. dollar denominated assets -- soon $3 billion -- just to keep the dollar from falling. This can be done through the purchases of U.S. bonds, or by buying assets outright.

The dollar rally of recent weeks may have stalled today.

Confidence and jobs sort of go together; that's why no one moved on the confidence report. People are working it seems. It's not really much of a surprise.

The drop in the (weekly) jobless claims number was key to the market's early weakness.