USD Trading Outlook (21-02-2013)
U.S. Dollar Trading (USD) in a very important trading day we saw large selling in US stocks post FOMC Minutes overnight as a ‘number’ of FED members expressed concern at the potential risks for further Asset purchases (QE). Some members suggested a halt to QE3 Purchases ‘before’ the US labor market improves. Also of concern overnight January Housing starts plummeted -8.5%m/m. Looking ahead, Weekly Jobless Claims forecast at 355k vs. 341k previously. Also January CPI forecast at 1.6% vs. 1.7% y/y. Also ahead Flash Manufacturing PMI forecast at 55.5 vs. 55.8.
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