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USD Trading Outlook (05-02-2013)

U.S. Dollar Trading (USD) a deadly combination of profit taking and fresh political risk out of Europe saw heavy selling in Global stocks and a rush to the safe haven US Dollar. The main story sweeping the market was a Spanish corruption scandal and record unemployment levels in the beleaguered EU country. Also Italian politics are entering the fray with upcoming general elections. Looking ahead, January ISM nonmanufacturing forecast at 55.2 vs. 55.7 previously.

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