USD Trading Outlook (16-08-2012)
U.S. Dollar Trading (USD) we saw the Dollar enjoy another day of gains after strong July Industrial Output underpinned the growing belief that the US recovery was stabilizing. The USD/JPY broke above Y79 as the US Bond yields increased with the improving US data. July CPI was flat at 0.0% vs. 0.2% expected and leaves the door open for the FED to do more easing if requires later in the year. Looking ahead, Weekly US claims forecast at 365k vs. 361k previously. July House Permits forecast at 0.757mn vs. 0.76mn previously. Also July Building Permits forecast at 0.77mn vs. 0.76mn previously.
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