USD Trading Outlook (19-05-2011)

U.S. Dollar Trading (USD) stocks, commodities and most risk assets rose overnight as the FED showed optimism and fears over European debt subsided further. The FOMC Minutes showed the US central bank still believes a moderate recovery is underway and inflation will moderate. In US stocks, DJIA +80 points closing at 12560, S&amp P +11 points closing at 1340 and NASDAQ +31 points closing at 2815. Looking ahead, Weekly Jobless Claims forecast at 420k vs. 434k previously. Also, April Existing home Sales forecast at 5.2mn vs. 5.1mn previously.

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