USD Trading Outlook (28-03-2011)
U.S. Dollar Trading (USD) stocks markets continued to rally on strong economic data with Q4 GDP revised to 3.1% vs. 2.8% previously. Also helping the USD was hawkish comments from FED member Plosser that rates would have to rise in the not too distant future. High Oil prices did dent US consumer Sentiment with the UoM index dropping to 67.5 vs. 68.2 previously. In US stocks, DJIA +50 points closing at 12220, S& P +4 points closing at 1313 and NASDAQ +6 points closing at 2742. Looking ahead, February Pending Home Sales -0.8% vs. -2.8% previously.
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