USD Trading Outlook (20-05-2011)

U.S. Dollar Trading (USD) wind was taken out of the risk rallies sail last night after mixed US data. Weekly Jobless Claims were positive falling to 409k vs. 438k previously. Existing homes sales fell -0.8% to 5.05m in April. May Philly Fed Index fell sharply to 3.9 vs. 18.5 previously in a concerning deterioration of business sentiment. In US stocks, DJIA +45 points closing at 12605, S&amp P +2 points closing at 1343 and NASDAQ +8 points closing at 2823.

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