USD Trading Outlook (08-10-2010)
U.S. Dollar Trading (USD) the dollar went to multi-month lows against most majors before market wide aggressive profit taking saw losses turned into gains. Weekly Jobless Claims continued to improve down to 445k vs. 453k previously. Stocks reversed sharply after the US market opened after the Dow Jones tested 11000. In US stocks, DJIA -19 points closing at 10948, S& P -2 points closing at 1157 and NASDAQ +3 points closing at 2383. Looking ahead, September Non Farm Payrolls forecast at +1k vs. -54k. September Unemployment Rate is forecast to rise to 9.7% vs. 9.6% previously.
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