USD Trading Outlook (11-05-2012)
U.S. Dollar Trading (USD) the market stabilized overnight quiet for most of the day before suddenly after the US close JPMorgan announced surprised running losses from its risk management division. The US futures have dropped -0.7% in after hour’s trade and the AUD/USD risk sensitive currency is down 50 pips to 1.0050. Some fear other banks will also be carrying large undeclared losses so the broader banking sector is being sold. Looking ahead, April PPI forecast at 0.0% vs. 0.0%.
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