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USD Trading Outlook (19-07-2011)

U.S. Dollar Trading (US) the Dollar was on the front foot yesterday with risk aversion present in both Equities and Commodities. The strength was pared back in the US session however with hope of a Greece deal and US debt Ceiling debate still ongoing. In US stocks, DJIA -94 points closing at 12385, S&amp P -10 points closing at 1305 and NASDAQ -27 points closing at 2765. Looking ahead, June Housing Starts forecast at 0.575m vs. 0.56m previously. Also, Bank of Canada Rate Decision forecast at 1.0%.

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