USD Trading Outlook (12-12-2012)
U.S. Dollar Trading (USD) a stronger than forecast German ZEW survey sparked a rally that continued in New York with traders optimistic about the FOMC decision later today. US November Trade Balance at -42bn vs. 41bn previously. The market has now priced in dovish news from the FED and if this is not delivered a sharp spike in the USD is expected. Looking ahead, FOMC Decision forecast to hold at 0.25%. Focus will be on the FOMC Statement and Press Conference afterwards.
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