USD Trading Outlook (18-11-2011)
U.S. Dollar Trading (USD) gained across a number of majors overnight as US share-markets slumped triggering another bout of flight to safety. With a slate of data showing a decline in productivity (Philly Fed 3.6) and a reading of 388K jobless claims, lowest reading in 9 months, investors looked to equity markets once more in order to gage market sentiment. Investors concern that the EU debt crises was spreading from peripheral to key countries were echoed as the S&P fell 1.8%, Dow Jones was lower 1.4%, and the NASDAQ down 1.9%.
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