USD Trading Outlook (01-03-2011)
U.S. Dollar Trading (USD) a sharp selloff in US equities sent the Dollar higher against risk assets on fresh save haven demand. Investors though shunned the Dollar vs. other safe haven options with CHF and Gold both gaining heavily. February PMI Manufacturing increased to 61.4 vs. 60.8 forecast. In US stocks, DJIA -168 points closing at 12058, S& P -20 points closing at 1306 and NASDAQ -44 points closing at 2737. Looking ahead, February ADP Employment Reports forecast at 175k vs. 187k.
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