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USD Trading Outlook (22-06-2012)

U.S. Dollar Trading (USD) the mood darkened as the day went on yesterday with light selling in Asia turning into a major selloff by the end of the US session. The main factors were the FED downgrading US growth combined with China manufacturing PMI survey showing contraction and 15 global banks downgraded by Moody’s. The US economic data was mixed with weekly jobless claims at 386k vs. 383k. May Existing Home Sales at -1.5% vs. 1.1% forecast. Looking ahead, no economic data tonight from the US.

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