USD Trading Outlook (23-08-2012)
U.S. Dollar Trading (USD) in an important day of trading for the markets the Fed signaled that it was close to implementing a third round of stimulus to help a sluggish US recovery. The FOMC minutes suggested it was on the cards as soon as September unless ‘significant and substantial’ improvement in the economic data was seen. US stocks rallied off day lows and the USD was sold aggressively across the board. Looking ahead, Weekly Jobless Claims forecast at 365k vs. 366k previously. Also Flash US August PMI manufacturing forecast at 51.2 vs. 51.4 previously.
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