USD Trading Outlook (09-06-2011)
U.S. Dollar Trading (US) stocks continued to edge lower around the world with sentiment remaining weak. The USD was stronger on pullbacks in the Euro but lost ground against the Yen and Oil. With QE3 winding down concerns on the outlook for the US economy still remain and a cautious approach is been practiced by most traders. In US stocks, DJIA -21 points closing at 12048, S& P -5 points closing at 1279 and NASDAQ -26 points closing at 2275. Looking ahead, Weekly Jobless Claims forecast at 415k vs. 422k previously. April Trade Balance forecast at -48.8bn vs. 48.2bn previously.
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