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USD Trading Outlook (17-05-2011)

U.S. Dollar Trading (USD) US stocks finished lower and this helped the USD recover from selling in Europe after the EUR/USD led a bounce. May NAHB Housing Market Index Remained at 16 and underscores the ongoing weakness. In US stocks, DJIA -47 points closing at 12548, S&amp P -8 points closing at 1329 and NASDAQ -46 points closing at 2782. Looking ahead, April Industrial Output forecast at 0.4% vs. 0.8% previously. Also released, April Housing Starts forecast at 0.568mn vs. 0.549mn previously.

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