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USD Trading Outlook (01-02-2011)

U.S. Dollar Trading (USD) with selling overdone on Friday the market was buoyant seeing most pairs gain against the Dollar. Oil was extremely strong with Brent Crude breaking above $101 a barrel. Economic Data was strong with Chicago PMI jumping to 68.8 vs. 66.8 previously. In US stocks, DJIA +68 points closing at 11891, S&amp P +9 points closing at 1286 and NASDAQ +13 points closing at 2670. Looking ahead, January ISM Manufacturing forecast at 58 vs. 58.5 previously.

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