USD Trading Outlook (02-05-2011)
U.S. Dollar Trading (USD) volatility is expected on Monday as news broke that Osama bin laden had been killed in the Asian session. USD initially strengthened but how long this counter trend move can last is the question traders will be asking around the world. Silver also grabbed attention falling 10% at the open on Monday on speculation new CME margin rules would cause liquidations. In US stocks, DJIA +47 points closing at 12810, S& P +3 points closing at 1363 and NASDAQ +1 points closing at 2873. Looking ahead, April Manufacturing PMI forecast at 60 vs. 61.2 previously.
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