USD Trading Outlook (22-12-2011)
U.S. Dollar Trading (USD) the Dollar was under pressure in Asia and Europe as stocks enjoyed solid gains and the new ECB LTRO lending facility saw good demand. The new facility lent E489bn to banks and could free up money to lend to business and buy more European bonds. Stocks reversed in the US session however and the Dollar ended higher against most currencies. In US stocks, DJIA +4 points closing at 12107, S&P +2 points closing at 1243 and NASDAQ -25 points closing at 2577. Looking ahead, Weekly Jobless Claims forecast at 375k vs. 366k previously. Also December, UoM Consumer Confidence previously at 68.
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