USD Trading Outlook (12-01-2012)

U.S. Dollar Trading (USD) risk was taken off the table on Tuesday with the EUR/USD falling to 16 month lows on rumors that France was going to receive a downgrade and comments from Fitch that the ECB must purchase troubled European bonds to avoid a ‘cataclysm’. In US stocks, DJIA -13 points closing at 12449, S&P +1 points closing at 1292 and NASDAQ +8 points closing at 2710. Looking ahead, December Retail Sales forecast at 0.3% vs. 0.2% previously. Also released, Weekly Jobless Claims forecast at 375k vs. 372k previously.

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