USD Trading Outlook (07-02-2012)
U.S. Dollar Trading (USD) stocks pared back some of the Jobs data with Greece missing the deadline for a deal and extending talks to avoid a default amongst warnings from the rest of Europe to find a solution. Traders continued to buy on pull backs however and stocks rallied off their lows in the US session and the EUR/USD and other risk assets bounced into the close. In US stocks, DJIA -17 points closing at 12845, S&P -1 points closing at 1343 and NASDAQ -3 points closing at 2904. Looking ahead, FED Chairman Bernanke Speaks. December Consumer Credit forecast at 7.7bn vs. 20bn previously.
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