USD Trading Outlook (21-04-2011)
U.S. Dollar Trading (USD) stocks markets surged on the back of good earnings and solid economic data. &lsquo Risk On&rsquo trading led to a USD selloff even as March Existing home sales rallied 3.7% vs. -8.9% previously m/m. Earning season is in full swing with most beating estimates so far. In US stocks, DJIA +186 points closing at 12453, S& P +17 points closing at 1330 and NASDAQ +57 points closing at 2802. Looking ahead, Weekly Jobless Claims forecast at 394k vs. 412k previously. March Philly FED forecast at 37.4 vs. 43.3 previously.
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