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USD Trading Outlook (31-05-2012)

U.S. Dollar Trading (USD) the USD broke key resistance against most pairs overnight as the Spanish banking crisis nears a tipping point that could see the whole Eurozone spiral into deep recession. The Spanish government is reluctant to accept an EU bailout with the oversight seen as threatening the sovereignty of the large European nation.Looking ahead, Weekly Jobless Claims forecast at 370k vs. 370k previously. Q1 GDP forecast at 1.9% vs. 2.2%.

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