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USD Trading Outlook (06-07-2012)

U.S. Dollar Trading (USD) traders were waiting with anticipation for the ECB decision last night and were rewarded with some good volatility to trade. The ECB cut rates by 0.25% but the President Draghi was downbeat on the growth outlook for the EU and further operations to help the market. US stocks tanked and the US Dollar was very strong. Looking ahead, June NFP forecast at 90k vs. 69k previously. June Unemployment Rate forecast unchanged at 8.2%.

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