USD Trading Outlook (23-03-2012)
U.S. Dollar Trading (USD) a weak HSBC Chinese PMI print for March at 48.1 vs. 49.6 previously added to the developing concern that the world’s largest manufacturer was slowing down faster than expected. US Weekly Jobless Claims came in better than expected at 348k vs. 353k previously. The USD gained heavily on safe haven demand but lost ground against the other safe haven in the YEN which used the ‘risk off’ trading environment to pare back its recent losses. Looking ahead, February New Home Sales forecast at 0.325mn vs. 0.321mn previously. FED Chairman Bernanke speaks.
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