USD Trading Outlook (07-12-2011)
U.S. Dollar Trading (USD) the USD was strong in the Asian session as the surprise credit watch warning on European states hurt sentiment. The rest of the day saw sentiment improve with increasing expectations that the European leaders will do whatever is needed to get solve the debt crisis. In US stocks, DJIA +53 points closing at 12150, S&P +1 points closing at 1258 and NASDAQ -6 points closing at 2649. Looking ahead, Crude Oil Inventories forecast at -0.8mn vs. 3.9mn previously. Also October consumer credit forecast at 7bn vs. 7.4bn.
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