USD Trading Outlook (07-06-2012)

U.S. Dollar Trading (USD) rampant QE3 speculation sent US stocks up over 2% and risk assets soaring overnight with the Bernanke speech today now taking on greater significance. The recent Fedspeak from members of the FOMC has left the door open for more QE3 if the economy deteriorates and the latest string of data has disappointed. Looking ahead, Weekly Jobless Claims forecast at 377k vs. 383k previously. Also ahead, FED Chairman Bernanke Testifies before the Joint economic committee in Washington.

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