USD Trading Outlook (12-05-2011)
U.S. Dollar Trading (USD) Oil led the commodity sector lower and Equities also fell giving the Dollar a bullish tone. March Trade Balance weakened to a 48.2bn Deficit in March. Many analysts are cautioning the market correction could still have room to run and as such the USD will do well. In US stocks, DJIA -130 points closing at 12630, S& P -15 points closing at 1342 and NASDAQ -26 points closing at 2845. Looking ahead, April Retail Sales forecast at 0.6% vs. 0.4% previously. Also, Weekly Jobless Claims are forecast at 430k vs. 474k previously.
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