USD Trading Outlook (10-05-2012)
U.S. Dollar Trading (USD) the Greece tragedy continued overnight with little progress made in the post-election negotiations. European sovereign bond yields started to rally and we saw the Spanish 10 Yr rise above 6% in a return to the debt crisis. Stocks feel for a 6th day but there was little follow through and we are poised to test upside in Asia. Looking ahead, Weekly Jobless Claims forecast at 369k vs. 365k previously. Also March Trade Balance forecast at -50bn vbs. -46bn previously.
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