USD Trading Outlook (06-03-2012)
U.S. Dollar Trading (USD) mild risk aversion persisted throughout the day as China lowered its GDP target to 7.5% vs. 8% in 2012 and we had some negative news out of Europe regarding Greece private sector bond participation in the new bailout plan. US data was strong with February Services PMI at 57.3 vs. 56.1 forecast. Stocks in the US finished slightly lower but well off the lows of the session and the Dollar was steady against most of the majors. Looking ahead, no major US data tonight.
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