USD Trading Outlook (07-03-2012)
U.S. Dollar Trading (USD) markets fell aggressively overnight with major levels broken on Global stock indexes and EUR/USD helping the Dollar to gain. With no major US data the market reacted to fresh Greece fears that the Private sector involvement (PSI) would not get the required 90% participation rate before tomorrow’s debt swap deadline and we could be entering a new phase of the Eurozone debt crisis. Looking ahead, February ADP employment forecast at 208k vs. 170k previously.
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