USD Trading Outlook (07-02-2011)
U.S. Dollar Trading (USD) was stronger on a surprise sharp drop in the January Unemployment Rate to 9.0% vs. 9.4% previously. The Nonfarm payroll rise was only 36k vs. 145k forecast but this was put down to bad weather in January. In US stocks, DJIA +29 points closing at 12092, S& P +3 points closing at 1310 and NASDAQ +15 points closing at 2769. Looking ahead, December Consumer Credit forecast at 2bn vs. 1.35bn.
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