USD Trading Outlook (11-01-2012)

U.S. Dollar Trading (USD) sentiment improved and US stocks moved to fresh 5 month highs after rating agencies affirmed Frances AAA rating which was a relief to cautious sidelined investors. With little US economic data traders instead looked to company earnings which so far have been better than expected. In US stocks, DJIA +69 points closing at 12462, S&P +11 points closing at 1292 and NASDAQ +25 points closing at 2702. Looking ahead, Crude Oil inventories forecast at 0.9m vs. 2.2m previously. Also FED Beige Book released.

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