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USD Trading Outlook (05-12-2012)

U.S. Dollar Trading (USD) the Dollar was sold across the board even with soggy US stocks as the ‘fiscal cliff’ negotiations continued and little progress being made. The Bank of Canada held Interest Rates at 1.0% as widely expected. The EUR/USD rally is lifting most currencies higher with the tide turning against the USD. Looking ahead, November ISM Manufacturing forecast at 53.5 vs. 54.2 previously. Also ADP Employment Report forecast at 125k vs. 158k previously.

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