USD Trading Outlook (01-11-2011)
U.S. Dollar Trading (USD) sentiment darkened overnight with heavy stock losses following some negative Eurozone developments. Weak Chicago PMI at 58.4 vs. 60.4 previously and Bond dealer MF Global bankruptcy added to the selling which inspired fresh USD strength on safe haven demand. In US stocks, DJIA -276 points closing at 11955, S& P -31 points closing at 1253 and NASDAQ -52 points closing at 2684. Looking ahead, October ISM Manufacturing forecast at 52 vs. 51.6 previously.
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