USD Trading Outlook (19-10-2010)

U.S. Dollar Trading (USD) was predominantly range traded against a handful of currencies on Monday, before a late session rally in Wall Street pushed many currencies higher on positive risk. Citigroup shares rose more than 5%, following a better than expected earnings report, ensuring that the Dow Jones rose by 80.9 points (+0.7%), S&amp P up 0.42%, whilst the NASDAQ was also higher by 11.89 points (0.48%). In domestic news, Industrial Production had fallen by -0.2% versus forecast of a +0.2% gain for the month of September. The USD lost further ground as Fed Member Lockhart did indicate a move to easing overnight by stating &amp ldquo I am leaning in favour of additional monetary stimulus&amp hellip &amp rdquo . Housing data is scheduled for release on Tuesday with both Building Permits and Housing Starts due. &nbsp &nbsp