USD Trading Outlook (05-01-2011)
U.S. Dollar Trading (USD) was well supported by pullbacks in stocks and commodities globally due to profit taking. The FOMC minutes gave Wall St. a boost as the FED maintained its view for a full QE2 implementation even as economic data has improved somewhat. In US stocks, DJIA +20 points closing at 11691, S& P +1 points closing at 1271 and NASDAQ +38 points closing at 2691. Looking Ahead, December ADP Private Employment is forecast at 100k vs. 93k previously.
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