USD Trading Outlook (05-01-2012)
U.S. Dollar Trading (USD) was strong on the back of renewed risk aversion in the Euro area banking sector overnight. Stock markets still managed small gains as economic data supported with factory orders gaining 1.8% vs. 1.7% previously. In US stocks, DJIA +21 points closing at 12418, S&P +1 points closing at 1277 and NASDAQ -1 points closing at 2648. Looking ahead, ISM Services PMI forecast at 53 vs. 52 previously. Weekly Jobless Claims are forecast at 375k vs. 381k previously.
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