USD Trading Outlook (01-06-2011)
U.S. Dollar Trading (US) stock markets rallied around the world but the reaction in FX markets was mixed. Highs in Europe on most majors came under profit taking and the USD finished well off lows. USD/JPY and USD/CHF provided a lot of support. In US stocks, DJIA +128 points closing at 12569, S& P +14 points closing at 1345 and NASDAQ +38 points closing at 2835. Looking ahead, ADP May Employment forecast at 175k vs. 179k. May ISM Manufacturing forecast at 57.4 vs. 60.4.
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