USD Trading Outlook (08-12-2010)

U.S. Dollar Trading (USD) the market was trading in a &lsquo risk on&rsquo mood during Asia given news that the US Bush tax cuts would be extended to all Americans and that the Irish budget would pass an important vote. Dollar selling reversed however as a major move higher in the 10 year Treasury yield sent the USD soaring. In US stocks, DJIA -3 points closing at 11359, S&amp P +1 points closing at 1223 and NASDAQ +3 points closing at 2598. Looking ahead, Weekly Oil Inventories are forecast at -1.3m vs. 1.1m previously.

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