USD Trading Outlook (04-06-2012)
U.S. Dollar Trading (USD) the market was already in risk off mode going into the US jobs data which shocked to the downside sending the Dow jones over 200 points lower before staging a small recovery for the rest of the session. Traders are beginning to increase the chances of QE3 at the June 21 US FOMC meeting and this is providing stockmarkets and USD sellers support. May NonFarm Payrolls at 69k vs. 150k forecast. The Unemployment rate increased to 8.2% in May vs. 8.1% previously. Looking ahead, April Factory Orders forecast at 0.3% vs. -1.9% previously.
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