USD Trading Outlook (16-02-2011)
U.S. Dollar Trading (USD) stocks markets fell in response to weaker than expected January US retail sales at 0.3% vs. 0.6% forecast. The Dollar has been rallying now for 3 days and could extend gains if key levels on the USD/JPY and the EUR/USD are broken in unison to create a fresh trend. In US stocks, DJIA -41 points closing at 12226, S& P -4 points closing at 1328 and NASDAQ -12 points closing at 2805. Looking ahead, FOMC minutes for January meeting released. Also today, Weekly Oil Inventories forecast at 1.8mn vs. 1.9mn previously.
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