USD Trading Outlook
U.S. Dollar Trading (USD) a stronger than forecast German ZEW survey sparked a rally that continued in New York with traders optimistic about the FOMC decision later today. US November Trade Balance at -42bn vs. 41bn previously. The market has now priced in dovish news from the FED and if this is not delivered a sharp spike in the USD is expected. Looking ahead, FOMC Decision forecast to hold at 0.25%. Focus will be on the FOMC Statement and Press Conference afterwards.
U.S. Dollar Trading (USD) traders continued to take an optimistic view of the global economy focusing on the stronger Chinese/US data and less on Spain/Italy and ‘fiscal cliff’. US Stocks rallied ahead of the FOMC on Wednesday which analysts suggest may contain further easing for the US economy. Looking ahead, US Trade Balance forecast at -42bn vs. -41bn previously.
U.S. Dollar Trading (USD) The USD enjoyed solid gains on Friday after the November Nonfarm Payrolls came in much stronger than forecast. November NFP came in at 146k vs. 93k forecast and the Unemployment Rate fell to 7.7% vs. 7.9% forecast. USD/JPY shot higher but was reversed later in the session as Dollar buyers took profit although stock markets held onto gains. Looking ahead, no economic data released.
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