USD Trading Outlook (04-03-2011)
U.S. Dollar Trading (USD) Some very strong Economic data and signals from the ECB that they are close to raising rates sent investor confidence soaring and stock markets posted their biggest gains of the year. Weekly Jobless Claims improved falling to 368k vs. 398k forecast. February PMI Manufacturing improved to 59.7 vs. 59.4. In US stocks, DJIA +191 points closing at 12258, S& P +22 points closing at 1330 and NASDAQ +50 points closing at 2798. Looking ahead, February Non Farm Payrolls forecast at 185k vs. 36k previously. February Unemployment Rate Forecast at 9.1% vs. 9.0% previously.
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