USD Trading Outlook (19-08-2011)
U.S. Dollar Trading (US) global stocks fell sharply yesterday with weak US data and concerns about European banks. Aug Philly fed shocked at -30 vs. 3.2 and sent shockwaves throughout the market as the very weak number signals a potential recession. The dollar gained against risk currencies but was under pressure against the soaring safe haven Gold. In US stocks on Friday, DJIA -419 points closing at 10990, S& P -53 points closing at 1140 and NASDAQ -131 points closing at 2380.
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