USD Trading Outlook (23-11-2010)
U.S. Dollar Trading (USD) gained against most pairs as the Euro led the collapse of most majors. Stocks in the US came under heavy pressure on news of a major insider trading case developing. A relief rally into the US close helped most currencies bounce off lows. In US stocks, DJIA -24 points closing at 11178, S& P -1 points closing at 1198 and NASDAQ +13 points closing at 2532. Looking ahead, Q3 GDP forecast at 2.4% vs. 2% previously. October Existing Home Sales forecast at 4.49mn vs. 4.53mn. Closely watched FOMC Minutes are also set to be released.
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