USD Trading Outlook (04-10-2012)
U.S. Dollar Trading (USD) quiet trade overnight with the market cautious ahead of major risk events over the next 48 hours. The ECB and the BOE meet tonight and both could cause large movements with some speculation that the BOE will increase QE and that the ECB might announce new bond buying details. Economic data was good from the US overnight with Services PMI increasing to 55.1 vs. 53.7 previously. Looking ahead, FOMC Minutes released. August Factory Orders forecast at -5.8% vs. 2.8% previously.
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