USD Trading Outlook
U.S. Dollar Trading (US) global stocks fell sharply yesterday with weak US data and concerns about European banks. Aug Philly fed shocked at -30 vs. 3.2 and sent shockwaves throughout the market as the very weak number signals a potential recession. The dollar gained against risk currencies but was under pressure against the soaring safe haven Gold. In US stocks on Friday, DJIA -419 points closing at 10990, S& P -53 points closing at 1140 and NASDAQ -131 points closing at 2380.
U.S. Dollar Trading (US) most markets remained quiet overnight with the highlight the Swiss national bank&rsquo s lack of Currency intervention which sent EUR/CHF from 115 to 112. Stocks in the US ended unchanged with an early rally pared back into the close. In US stocks on Friday, DJIA +4 points closing at 11410, S& P +1 points closing at 1193 and NASDAQ -11 points closing at 2511. Looking ahead, August Philly FED forecast at 3.7 vs. 3.2 previously.
U.S. Dollar Trading (US) disappointing economic growth from the Eurozone saw weakness flow through across global markets with stocks pulling back in Europe and US. US July Housing Starts fell -1.5% m/m and July Industrial Production gained 0.9% vs. 0.5% forecast. In US stocks on Friday, DJIA -76 points closing at 11405, S& P -11 points closing at 1192 and NASDAQ -31 points closing at 2523. Looking ahead, July PPI forecast at 1.6% vs. 1.8% previously.
U.S. Dollar Trading (US) stocks extended gains on Monday with some positivity coming back into most markets. EUR/CHF continue to rally on short covering with the SNB now set to meet on Wednesday in what could be a watershed moment for the safe haven currency. Traders ignored some weak manufacturing data with the August NY FED dropping to -7 vs. 0 forecast. In US stocks on Friday, DJIA +213 points closing at 11482, S& P +25 points closing at 1204 and NASDAQ +47 points closing at 2555. Looking ahead, July Industrial Production forecast at 0.5% vs. 0.2% previously. July Housing starts are forecast at 0.6mn vs. 0.629mn previously.
U.S. Dollar Trading (US) some calm on Friday with the market remaining positive and trading on most pairs subdued compared to the violent moves seen in the past week. USD/CHF continued to move higher as the market reacted to Swiss intervention talk. In US stocks on Friday, DJIA +125 points closing at 11269, S& P +6 points closing at 1178 and NASDAQ +15 points closing at 2507. Looking ahead, August NY FED Manufacturing forecast at 0 vs. -3.76 previously.
Go to U.S. Dollar (USD) Archive



