USD Trading Outlook (29-04-2011)

U.S. Dollar Trading (USD) the USD hit fresh year lows against most currencies in Europe overnight but pared back those losses in the US session on profit taking. Weekly Jobless claims jumped to 429k vs. 392k expected. Q1 GDP also missed at 1.8% vs. 2.0% forecast Q/Q. In US stocks, DJIA +72 points closing at 12763, S&amp P +4 points closing at 1359 and NASDAQ +2 points closing at 2872. Looking ahead, April Chicago PMI forecast at 68.5 vs. 70.6 previously. Also ahead, April UoM Consumer sentiment forecast at 61.3 vs. 61.2.

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