USD Trading Outlook (17-11-2010)
U.S. Dollar Trading (USD) the Dollar gained across the board as the Chinese stock market plunged and fears of Eurozone bailouts flourished. October Industrial Production gained 0.5% m/m and October PPI jumped 0.4% m/m. The bigger story was the stock market slump however down in Europe and the US as well. In US stocks, DJIA -178 points closing at 11023, S& P -19 points closing at 1178 and NASDAQ -43 points closing at 2649. Looking ahead, October CPI forecast at 0.3% vs. 0.1% previously. October House Starts are forecast at 0.6mn vs. 0.61mn previously. Also Ahead, Weekly Crude Oil Inventories is forecast at -0.5mn vs. -3.3mn previously.
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