USD Trading Outlook (29-10-2010)
U.S. Dollar Trading (USD) remained under pressure as news emerged that the FED was talking to Bond traders to work out how much the US central bank would have to purchase to move the Treasury market. Stock markets remained volatile even as Weekly Jobless Claims improved to 434k vs. 452k previously. In US stocks, DJIA -12 points closing at 11114, S& P +1 points closing at 1183 and NASDAQ +4 points closing at 2507. Looking ahead, Q3 GDP is forecast at 2% vs. 1.7% previously Q/Q annualized.
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