USD Trading Outlook (08-02-2013)

U.S. Dollar Trading (USD) The USD got a boost as the largest FX pair in the market the EUR/USD sunk after the ECB meeting overnight. The market has been in a strong uptrend for months so it remains to be seen whether this is just a correction or the start of a larger move. Weekly Jobless Claims were near expectations at 366k vs. 360k previously. Looking ahead, December Trade Balance forecast at -46bn vs. -48.7bn previously.

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