USD Trading Outlook (05-12-2011)
U.S. Dollar Trading (USD) Friday non farm payrolls provided some volatility after the Unemployment rate dropped to 8.6% vs. 9.0% previously inspiring USD strength. US Stocks fell from highs on Friday however as profit taking from the week’s stellar rally overwhelmed the good jobs data. In US stocks, DJIA -1 points closing at 12019, S&P -1 points closing at 1244 and NASDAQ +1 points closing at 2626. Looking ahead, November ISM Services forecast at 53.5 vs. 52.9 previously. October Factory Orders forecast at -0.3% vs. 0.3% previously.
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