USD Trading Outlook
U.S. Dollar Trading (USD) those hoping for a bounce after the heavy falls seen on Tuesday and Wednesday were disappointed as US stocks continued to remain under pressure. The USD enjoyed its safe haven status and gained across the board with the notable exception of the Japanese Yen. US 10 Year Treasury Yields continued to fall overnight and this is directly correlated to the USD/JPY major. Looking ahead, UoM Consumer Sentiment forecast at 83 vs. 82.6 previously.
U.S. Dollar Trading (USD) a short-lived rally after Obama secured his second term as US President was dramatically reversed during the US session. The Dow Jones fell 300 points from highs and saw the Dollar gain across the board on safe haven demand. The main cause was the immediate focus of investors on the looming US Fiscal Cliff crisis. Looking ahead, Weekly Jobless Claims forecast at 370k vs. 367k previously. Also ahead, October Trade Balance forecast at -45bn vs. 44.2 previously.
U.S. Dollar Trading (USD) markets are in for some volatile trading over the next 24 hours with US elections wrapping up and Obama looking set to secure a second term. The immediate response to the Obama victory projection was a sharp move higher in Gold and in the EUR/USD. US Stocks however fell sharply and this could support the Dollar later on safe haven demand. Looking ahead, official US elections results expected.
U.S. Dollar Trading (USD) USD strength from Friday continued throughout Monday with heavy EUR/USD selling pushing the single currency below 1.2800. G20 Finance Ministers met in Mexico and we heard concerns about the coming fiscal cliff in the in 2013. US elections are today and could move the market with an Obama victory seen keeping pressure on the USD. Looking ahead, US Presidential Elections.
U.S. Dollar Trading (USD) a volatile day of trading was seen Friday after stronger than forecast NFP data at 171k vs. 125k expected. The Unemployment Rate crept higher to 7.9% vs. 7.8% previously. US stocks opened higher on the good jobs data but it didn’t last and we saw heavy selling into the weekend as commodities crashed lower. Traders are being cautious ahead of the US elections on Tuesday. Looking ahead, October Services PMI forecast at 54.5 vs. 55.1 previously.
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