USD Trading Outlook (25-08-2011)
U.S. Dollar Trading (US) the market was in two minds yesterday with stocks rallying and supporting the USD with a sharp pullback in Gold. An increase in 10yr US Treasury yields on tempering expectations from Bernanke& rsquo s speech on Friday is also supporting the Dollar. Data was good with July Durable Goods Orders jumping 4.0% m/m vs. 2.1% previously. In US stocks on Friday, DJIA +143 points closing at 11320, S& P +15 points closing at 1177 and NASDAQ +21 points closing at 2467. Looking ahead, Weekly Jobless Claims forecast at 405k vs. 408k previously.
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