USD Trading Outlook (13-10-2011)
U.S. Dollar Trading (USD) the market began a major rally in Europe overnight as the EU Commission President Barroso presented a roadmap to solve the European Debt Crisis. This combined with news Slovakia has agreed to approve the EFSF. The FOMC minutes overnight also supported with the 3 noted dissenters of more QE been countered by two members asking for more QE. Also supporting was talk that QE3 could be kept in reserve for next year if needed. In US stocks, DJIA +102 points closing at 11518, S& P +11 points closing at 1207 and NASDAQ +21 points closing at 2604. Looking ahead, Weekly Jobless Claims forecast at 405k vs. 401k previously.
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