USD Trading Outlook (08-08-2011)
U.S. Dollar Trading (US) extreme volatility gripped the market on Monday as traders reacted to the S& P downgrade for US long-term debt. The historic downgrade sent US stock futures down 300 points at the Asian open but this has been largely reversed as we enter the European session given an emergency G7 meeting and aggressive ECB action. In US stocks on Friday, DJIA +60 points closing at 11444, S& P -1 points closing at 1199 and NASDAQ -23 points closing at 2532.
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