USD Trading Outlook (18-05-2011)
U.S. Dollar Trading (USD) was under pressure as the market sold on concerns about US debt and weak US data. April Industrial Output at 0.7% vs. 0.8% m/m. April Housing Starts at 523k vs. 589k previously in a disappointing print. In US stocks, DJIA -68 points closing at 12479, S& P -1 points closing at 1328 and NASDAQ +1 points closing at 2783. Looking ahead, Weekly Crude Oil Inventories forecast at 1.4m vs. 3.8m previously.
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