USD Trading Outlook (11-11-2011)
U.S. Dollar Trading (USD) consolidation in European debt markets and confirmation that Italy PM would resign and that a new Greece PM had been selected added some stability and a little bounce to most markets. Adding to the positive Greek news was strong weekly jobless claims which dropped under 400k to 390k in a positive sign that employment was improving. In US stocks, DJIA +112 points closing at 11893, S&P +10 points closing at 1239 and NASDAQ +0 points closing at 2625. Looking ahead, UoM Consumer Sentiment forecast at 61.5 vs. 60.9 previously.
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