USD Trading Outlook (17-11-2011)
U.S. Dollar Trading (USD) solid economic data from the US sent stocks higher until the last few hours of the session which saw heavy selling from a Fitch warning on US banks. Although the warning was generic and well known the market used it as an excuse to sell US banking stocks. October Industrial Output at 0.7% vs. -0.1% previously. In US stocks, DJIA -190 points closing at 11905, S&P -20 points closing at 1236 and NASDAQ -46 points closing at 2639. Looking ahead, Weekly Jobless Claims forecast at 395k vs. 390k previously.
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