USD Trading Outlook (02-07-2012)
U.S. Dollar Trading (USD) the USD was under pressure the whole of Friday from the EU announcement in Asia that the ESM Bailout money will be directly able to support European banks. Also any of this fresh money lent to banks will not rank above other investors. On Top of this very positive move for European banks the ESM funds will also be able to invest directly in government debt markets. This could have the effect of lowering the Yields on Spanish and Italian Debt which has been a major global market issue. Looking ahead, June ISM Manufacturing forecast at 52 vs. 53.5 previously.
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