USD Trading Outlook (16-08-2011)
U.S. Dollar Trading (US) stocks extended gains on Monday with some positivity coming back into most markets. EUR/CHF continue to rally on short covering with the SNB now set to meet on Wednesday in what could be a watershed moment for the safe haven currency. Traders ignored some weak manufacturing data with the August NY FED dropping to -7 vs. 0 forecast. In US stocks on Friday, DJIA +213 points closing at 11482, S& P +25 points closing at 1204 and NASDAQ +47 points closing at 2555. Looking ahead, July Industrial Production forecast at 0.5% vs. 0.2% previously. July Housing starts are forecast at 0.6mn vs. 0.629mn previously.
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