USD Trading Outlook (01-03-2013)
U.S. Dollar Trading (USD) the EUR/USD short Squeeze failed to kick on in the European and US sessions yesterday and we found ourselves back at 1.3050 in Asian trade Friday. The outlook is mixed with the USD strong across the board after stronger than forecast economic data. US Preliminary GDP came in at 0.1% vs. -0.1% previously. Chicago PMI came in 56.8 vs. 54.3 forecast. Finally Weekly Jobless Claims came in at 344k vs. 260k forecast. Looking ahead, February Manufacturing ISM forecast at 52.5 vs. 53.1 previously. Fed Chairman Bernanke Speaks.
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