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USD Trading Outlook (27-02-2013)

U.S. Dollar Trading (USD) the Dollar was strong overnight with uncertainty regarding the Italian election outcome still hurting sentiment and generally upbeat US FED chief Bernanke’s testimony before congress helping support the USD bulls. Bernanke tried to calm market unease about the ending of QE3 too soon making the case that QE so far had been successful in helping the US recovery. December Case Shiller House Prices gained 6.8% vs. 6.7% previously. Looking ahead, Fed Chairman continues his testimony. January Durable Goods forecast at -4.4% vs. 4.3% previously.

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