USD Trading Outlook (02-08-2012)
U.S. Dollar Trading (USD) the first of three big risk events this week overnight with the US FOMC Meeting resulting in no change to the US interest rates. The FED kept rates at 0.25% and the USD immediately rallied as traders read the statement and noted that the no new hints of QE3. The door is still open for more stimulus but it will require a further deterioration of US economic data. Looking ahead, Weekly Jobless Claims forecast at 370k vs. 353k. June Factory Order June forecast at 0.5% vs. 0.7%.
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