USD Trading Outlook (07-07-2011)
U.S. Dollar Trading (US) was on the front foot as mild risk aversion spread throughout the market and the EUR/USD slumped in a delayed reaction to the Portugal downgrade the night before. June ISM Services dropped to 53.3 vs. 54.6 previously. China also increased Interest rates but stock markets were able to end slightly higher in the US. In US stocks, DJIA +56 points closing at 12626, S& P +1 points closing at 1339 and NASDAQ +8 points closing at 2834. Looking ahead, Weekly Jobless Claims forecast at 421k vs. 428k previously. June ADP employment forecast at 67k vs. 38k previously.
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