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USD Trading Outlook (02-02-2012)

U.S. Dollar Trading (USD) the US Dollar was on the back foot as stock markets surged on improvement in manufacturing surveys around the globe. January Chinese Manufacturing PMI jumped to 50.5 vs. 49.8 forecasts, UK PMI jumped to 52.1 vs. 49.7 previously and finally the January US manufacturing 54.1 vs. 53.9 previously in a positive sign for world growth. In US stocks, DJIA +83 points closing at 12716, S&P +11 points closing at 1324 and NASDAQ +34 points closing at 2848. Looking ahead, Weekly Jobless Claims forecast at 375k vs. 377k.

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