USD Trading Outlook (20-04-2012)

U.S. Dollar Trading (USD) the eagerly awaited Spanish Bond auction went off without major drama but the subsequent rally was short-lived as rumors swept the market that France was about to be downgraded. This was quickly discounted and we saw the Euro once again close above 1.3100 well supported. Looking ahead, Canadian March Core CPI forecast at 0.3% vs. 0.4% m/m.

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