USD Trading Outlook (09-03-2012)

U.S. Dollar Trading (USD) the dollar struggled as optimism overflowed overnight and traders dumped the safe haven and for riskier currencies. The risk rally began in Asia on speculation that Greece will get the required PSI involvement in its debt swap deal and later when this was confirmed we saw a global stock rally ignite. US Non farms tonight provide another spotlight on the US economic recovery with recently data improving. Looking ahead, February Nonfarm Payrolls forecast at 210k vs. 243k previously. The Unemployment rate is forecast steady at 8.3%.

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