USD Trading Outlook (22-10-2010)

U.S. Dollar Trading (USD) was weak early on before re-gathering its compsure against a number of majors following rumours that the US will assure China and other developing nations that Quantitative Easing measures would not be of awe huge proportions. Such speculation was supported from comments made by Fed member Bullard, who was optimistic on his outlook of the US economy, and went further by stating he would support quantitative easing in &ldquo small increments&rdquo . Further, US Treasury Sec Geithner mentioned he hoped that the upcoming G20 meeting in Korea would establish Currency guidelines. In Data specific news, Weekly Jobless claims fell to 452K from 462K, whilst the Philly fed manufacturing survey increased to 1%. US Share markets saw the Dow Jones close slightly higher up 0.35%, S&amp P up smalls 0.03%, and the NASDAQ up also 0.09%. In news ahead, most attention will surround the G20 meeting scheduled to take place in Korea this weekend.