USD Trading Outlook (12-01-2011)
U.S. Dollar Trading (USD) was under pressure as the Euro found support and Oil surged higher on supply fears. Stocks were strong on solid earnings reports and risk was tentatively put back on. In US stocks, DJIA +34 points closing at 11637, S& P +4 points closing at 1275 and NASDAQ +9 points closing at 2716. Looking ahead, Weekly Crude Oil Inventories are forecast at 0.4m vs. -4.2mn previously.
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