USD Trading Outlook (06-01-2012)

U.S. Dollar Trading (USD) stocks dipped in Asia and in Europe as risk aversion crept higher on European banking fears. The US session saw some stabilization and recovery in stocks into the close. The USD did not reverse gains against the Euro however with sentiment towards single currency extremely negative at the moment and the EUR/USD caught in a strong downtrend. In US stocks, DJIA +3 points closing at 12415, S&P +3 points closing at 1280 and NASDAQ +10 points closing at 2669. Looking ahead, December NonFarm Payrolls forecast at 150k vs. 130k previously. The unemployment rate is expected to tick higher to 8.7% vs. 8.6 previously.