USD Trading Outlook (18-10-2012)
U.S. Dollar Trading (USD) the affirmation of Spanish rating by Moody’s helped Spanish bonds yields fall yesterday ahead of the EU summit. The EUR/USD continued to push higher and lead the rest of the FX majors higher. US Stocks have enjoys strong gains so far this week and could retest year highs if the rally continues. US Housing Data was strong with a 15% jump in September Housing starts and 11% jump in permits. Looking ahead, Weekly Jobless Claims forecast at 365k vs. 339k previously. Also October Philly FED index forecast at 1 vs. -1.9 previously.
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