USD Trading Outlook (17-03-2011)
U.S. Dollar Trading (USD) markets swung widely yesterday with a 5% bounce in Asian stocks reversing in the European and US sessions and the Dow Jones Crashing over 200 points. In late trade after the US close the USD/JPY broke to fresh all time lows at Y76.30. In US stocks, DJIA -242 points closing at 11613, S& P -24 points closing at 1256 and NASDAQ -50 points closing at 2616. Looking ahead, February CPI forecast at 0.4% m/m. Weekly Jobless Claims are forecast at 387k vs. 397k previously. February Industrial Output forecast at 0.6% vs. -0.1%.
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