USD Trading Outlook (06-10-2011)

U.S. Dollar Trading (USD) led by a recovery in global banking stocks the markets had another positive day yesterday. The dollar was sold as safe haven demand was pared back. In economic data, September ISM services came in at 53.0 vs. 52.9 forecast and ADP September Employment +91k vs. 75k forecast. In US stocks, DJIA +131 points closing at 10940, S&amp P +20 points closing at 1143 and NASDAQ +55 points closing at 2460. Looking ahead, Weekly Jobless Claims forecast 410k vs. 391k previously.

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