USD Trading Outlook (26-01-2012)
U.S. Dollar Trading (USD) the US FED stole back the limelight from the Europeans overnight with the FOMC statement suggesting rates will be kept on hold at ‘exceptionally low’ levels until 2014. The effect was immediate with stocks rallying back from losses to solid gains and the USD being sold across the board. In US stocks, DJIA +81 points closing at 12757, S&P +11 points closing at 1326 and NASDAQ +31points closing at 2818. Looking ahead, Weekly Jobless Claims forecast at 370k vs. 352k previously. Also, December New Home Sales forecast at 0.32mn vs. 0.315mn previously.
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