U.S. Dollar Trading (USD) stocks pulled back during the European and US Sessions as profit taking kicked in after Friday’s large rally. A weaker than forecast July Consumer Credit number at -3bn vs. +9bn forecast added to the downside weight. Further pullbacks could be seen if any of the risk events out of Europe emerge to the downside. Looking ahead, July Trade Balance forecast at -44.2bn vs. -42.9bn previously.
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