USD Trading Outlook (16-07-2012)
U.S. Dollar Trading (USD) the USD was sold on Friday as the market reversed higher on the EUR/USD with talks that reforms in Spain were moving along quickly and traders were caught short when large buying emerged. July US Consumer Confidence fell to 72 but only marginally lower than the 73.4 forecast. The Fed’s Lockhart spoke on the conditions required to launch QE3 and stated more negative news would have to emerge but that the central bank would not have to wait if it did. Looking ahead, June Retail sales forecast at 0.1% vs. -0.2% previously. Also July NY Fed forecast at 0 vs. -0.4% previously.
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