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USD Trading Outlook (17-01-2013)

U.S. Dollar Trading (USD) the Dollar was on the front foot yesterday with profit taking extending for a third day in Asia and most majors were slightly lower on the day. Stocks remain resilient near year highs in the US with the earning season beginning positively. December Industrial Production increased 0.3% vs. 1.1% previously. December CPI was flat 0.0% m/m. Looking ahead, December Housing Starts forecast at 0.89mn vs. 0.86mn previously. Also Weekly Jobless Claims forecast at 365k vs. 371k previously.

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