USD Trading Outlook (02-09-2011)
U.S. Dollar Trading (US) a better than expected Aug ISM manufacturing Survey at 50.6 above the expansionary 50 level sent stocks to day highs at the start of the US session. The stocks then started to pull back and finished quite negative going into the US jobs data which is a major risk event. In US stocks on Friday, DJIA -119 points closing at 11493, S& P -14 points closing at 1204 and NASDAQ -33 points closing at 2546. Looking ahead, August Non Payrolls forecast at 75 vs. 117k previously. August Employment rate forecast at 9.1%.
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