USD Trading Outlook (27-09-2012)

U.S. Dollar Trading (USD) the Dollar gained in the European session as fears over Spain heated up but the downside was contained and US stocks rebounded. Support for the market will come from a formal request for a bailout from Spain and pressure is being applied daily to speed up the process. Fed Member Evans stated QE will continue until the Unemployment rate falls below 7.0%. Looking ahead, Q2 Final GDP forecast at 1.7%. Weekly Jobless Claims at 378k vs. 382k. August Durable Goods Orders forecast at -5% vs. 4.1% y/y.

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