USD Trading Outlook (23-12-2011)
U.S. Dollar Trading (USD) Risk was on overnight but the safe haven USD held up well against most currencies with US data improving and the Euro struggling to hold gains. Weekly Jobless Claims dropped for a third week to 364k and are beginning to trend lower. December Consumer Confidence picked up 69.9 vs. 67.7 previously. In US stocks, DJIA +61 points closing at 12169, S&P +10 points closing at 1254 and NASDAQ +21 points closing at 2599. Looking ahead, November New Home Sales forecast at 0.313mn vs. 0.307mn previously. Also November Durable Goods forecast at 2% vs. -0.5% previously.
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