USD Trading Outlook (05-04-2012)
U.S. Dollar Trading (USD) the USD enjoyed gains overnight against all currencies except the other safe haven the Japanese Yen. The buying started in Europe after weak Spanish bond auctions saw traders sell the EUR/USD and accelerated in the US session as stock losses mounted up. March ADP employment saw +209k vs. +230k previously. March ISM services fell to 56 vs. 57.3 previously. Looking ahead, Weekly Jobless Claims forecast at 355k vs. 349k previously.
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