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USD Trading Outlook (01-02-2012)

U.S. Dollar Trading (USD) news in Asia that ‘significant progress’ had been made in the Greece debt negotiations spurred a risk on rally that continued into Europe. The US session saw a reversal of the stock markets and risk appetite after economic data missed expectations. November Case Shiller House Price Index fell -3.7% in November. In US stocks, DJIA -20 points closing at 12632, S&P -1 points closing at 1312 and NASDAQ +1 points closing at 2802. Looking ahead, January PMI Manufacturing forecast at 54.5 vs. 53.9 previously. January ADP National Employment forecast at 185k vs. 325k previously.

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