USD Trading Outlook (25-02-2011)
U.S. Dollar Trading (USD) the market is focused on developments in the middle east with Oil surging $4 a barrel at the start of Europe to above $103 a barrel before reversing for the rest of the day. Rumors that Libyan dictator Gaddafi had been shot adding to the sharp pull back seen in the US session. In economic news, Weekly Jobless Claims fell to 391k vs. 410k previously. In US stocks, DJIA -37 points closing at 12068, S& P -1 points closing at 1306 and NASDAQ +14 points closing at 2737. Looking ahead, Revised Q4 GDP forecast at 3.3% from 3.2% previously.
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