Whether or not the US dollar continues its recent slide through the week ahead will almost certainly depend on the trajectory of the S&P and broader risk appetite.

The coming week’s highlights will include a barrage of Euro Zone Industrial Production, Business Confidence, Employment, and Consumer Price Index reports.

The US dollar finished the week higher against all G10 and other major currencies, fueled by a substantial decline in the S&P 500 and broad deterioration in financial market risk appetite.

The euro pared Friday's rally as Fitch cut its AAA credit rating for Spain, and fears surrounding the European debt crisis could weigh on the single-currency over the following week as policy makers take unprecedented steps to stem the risks of contagion.

Traders should watch market reactions to the coming week’s Conference Board Consumer Confidence results, Durable Goods Orders data, and revisions to US Gross Domestic Product figures.

The euro finished the week sharply lower against the US dollar, trading to its lowest levels since November, 2008 on continued fiscal crises across the single-currency bloc.

US dollar traders should keep a close eye on any and all developments out of the Euro Zone and recently-skittish financial markets.

A late-week US Nonfarm Payrolls report will likely dominate headlines in the coming week.

Fundamental news events will likely take a back seat to Greece-related issues in the week ahead, but it may be nonetheless important to watch price action surrounding several key data releases.

The US dollar finished the week roughly unchanged against other G10 counterparts, but a key surge through Friday’s S&P 500 declines leaves short-term momentum in favor of further dollar appreciation.