USD Trading Outlook (06-05-2011)
U.S. Dollar Trading (USD) a combination of dovish ECB and crashing commodities helped the USD surge yesterday in a major reversal of fortunes. Weekly Jobless Claims soared to 474k vs. 410k forecast and created an air of uncertainty about the strength of the US job market ahead of Aprils Non Farm Payrolls tonight. In US stocks, DJIA -139 points closing at 12584, S& P -12 points closing at 1335 and NASDAQ -13 points closing at 2814. Looking ahead, April Non Farm Payrolls forecast at 200k and Unemployment rate forecast unchanged at 8.8%.
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