USD Trading Outlook (28-10-2011)
U.S. Dollar Trading (USD) US traders jumped upon the European rally extending for one of the largest rallies on record with most banks +10% as EU debt fears eased. Q3 GDP came in as forecast at 2.5% annualized and this further helped sentiment in the US session. In US stocks, DJIA +339 points closing at 12208, S& P +42 points closing at 1284 and NASDAQ +87 points closing at 2738. Looking ahead, University of Michigan Consumer expectations forecast at 74.1 vs. 73.8 previously.
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