USD Trading Outlook (10-09-2012)
U.S. Dollar Trading (USD) stocks surged on the back of enthusiasm for the ECB Bond Buying plan and growing expectations that the US FOMC meeting Wednesday will deliver QE3. August Jobs came in at 96k vs. 125k. August Unemployment Rate dropped to 8.1% vs. 8.3% as the participation rate dropped in the US. The perverse reaction of weak data leading to stock market gains increases the downside risk if Bernanke fails to deliver. Looking ahead, July Consumer Credit forecast at 9.05bn vs. 6.46bnn previously.
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