USD Trading Outlook (07-09-2012)

U.S. Dollar Trading (USD) stocks around the world registered massive gains overnight as the ECB embarked on its on QE style intervention in the bond market. US S&P 500 traded at fresh 4 year highs and we saw very strong ADP Employment numbers at 201k vs. 140k expected. This indicates that tonight’s more official US NonFarm Payrolls might be stronger than forecast. Looking ahead, August US NonFarm Payrolls forecast at 125k vs. 163k previously. The August Unemployment Rate is forecast at 8.3% vs. 8.3% previously.

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