USD Trading Outlook (24-11-2010)
U.S. Dollar Trading (USD) the market broke out of its recent range to the downside with stocks and most currencies plunging on fresh risk aversion. News that North Korea had shelled a South Korean Island and killed military personal and wounded civilians sent stocks falling sharply. FOMC Minutes also released were bearish as the FED downgraded Unemployment forecasts. In US stocks, DJIA -142 points closing at 11115, S& P -17 points closing at 1180 and NASDAQ -37 points closing at 2494. Looking ahead, Weekly Jobless Claims are forecast at 434k vs. 439k previously. October Durable Goods are forecast at +0.2% vs. 3.5% m/m previously.
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