USD Trading Outlook (08-11-2012)

U.S. Dollar Trading (USD) a short-lived rally after Obama secured his second term as US President was dramatically reversed during the US session. The Dow Jones fell 300 points from highs and saw the Dollar gain across the board on safe haven demand. The main cause was the immediate focus of investors on the looming US Fiscal Cliff crisis. Looking ahead, Weekly Jobless Claims forecast at 370k vs. 367k previously. Also ahead, October Trade Balance forecast at -45bn vs. 44.2 previously.

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