USD Trading Outlook (13-12-2011)
U.S. Dollar Trading (USD) markets went south for most of the day with all three rating agencies unimpressed by the EU summit. The Euro led most markets lower with traders expecting downgrades in the coming days. With little economic data this week the stocks used the EU debt issue to push stocks lower. In US stocks, DJIA -162 points closing at 12021, S&P -18 points closing at 1236 and NASDAQ -34 points closing at 2612. Looking ahead, November Retail Sales forecast at 0.6% m/m. Also, FOMC Rate announcement forecast at 0.25% vs. 0.25% previously.
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