USD Trading Outlook (30-05-2012)
U.S. Dollar Trading (USD) the dollar extended gains again overnight with strong safe haven demand as the uncertainty and bad news out of Europe continues to roll in. The slow speed at which EU officials are moving to sure up confidence in the market is creating fear amongst the longer term investors. US data is coming in mixed with slightly better housing price data being offset by the weakening CB Consumer sentiment at 64.9 vs. 69.8 previously. Looking ahead, April Pending home Sales forecast at 0.1% vs. 4.1% previously.
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