USD Trading Outlook (26-04-2012)

U.S. Dollar Trading (USD) the USD was sold post FOMC overnight with the maintaining its easy monetary policy with a slight upgrade to forecasts. Overall the FOMC meeting was very supportive for markets and weak for the USD going forward. Fridays Q1 US GDP report will be critical for the US recovery story and the Global stock market rally waiting for clearer information on the health of the US economy. Looking ahead, Weekly Jobless Claims are forecast at 375k vs. 386k previously. March Pending Home Sales are forecast at 1% vs. 0.5% previously.

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