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USD Trading Outlook (20-09-2012)

U.S. Dollar Trading (USD) the Dollar enjoyed small gains overnight with the EUR/USD and OIL/USD leading the currency markets lower. US data was mixed with solid housing data including Existing home sales up 7.8% m/m. Crude Oil inventories showed a major upside surprise and we saw OIL/USD fall below $92 in a sharp spike lower. Looking ahead, Weekly Jobless Claims forecast at 375k vs. 382k previously. Also September Flash Manufacturing PMI forecast at 51.5 vs. 51.5 previously.

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