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USD Trading Outlook (11-07-2012)

U.S. Dollar Trading (USD) the EUR/USD was sold to fresh lows overnight as the German constitutional court said the process of reviewing Germany’s role in the new ESM could take up to 3 months. There were various official responses hoping the decision came quickly as the markets will not wait. US Stocks moved lower on Chinese import declines indicating the world’s second largest domestic economy was slowing faster than expected. Looking ahead, May Trade Balance forecast at -48.5bn vs. -50.1bn previously. FOMC Minutes from June Meeting released.

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