USD Trading Outlook (17-04-2012)
U.S. Dollar Trading (USD) the market opened weak Monday morning but when support was found going into the European session at the major 1.3000 EUR/USD support we saw a market wide short squeeze. US stocks rallied and the USD was sold as the buyers were caught long in the safe haven. March Retail sales showed signs of life up 0.8% vs. 0.4% forecast m/m. Looking ahead, US March Housing Starts forecast at 1.0% vs. -1.1% previously. Also Bank of Canada Interest Rate Decision forecast to hold at 1.0%.
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