USD Trading Outlook
U.S. Dollar Trading (USD) stocks ended slightly lower in the US session but commodities were very strong with Oil up above $106 a barrel. Weekly Jobless Claims were consistent at 388k vs. 394k ahead of tonight&rsquo s NFP data. In US stocks, DJIA -30 points closing at 12319, S& P -2 points closing at 1325 and NASDAQ +4 points closing at 2780. Looking ahead, March ISM Manufacturing forecast at 61 vs. 61.4 previously. March Unemployment Rate is forecast at 8.9%. March Non Farm Payrolls forecast at 190k vs. 192k previously.
U.S. Dollar Trading (USD) The weak USD theme continued with investors searching for riskier trades with higher returns. The High Yielding Aussie hit all time highs as stock markets continue to push higher. March ADP Employment was solid at 201k vs. 203k previously. In US stocks, DJIA +71 points closing at 12350, S& P +8 points closing at 1328 and NASDAQ +19 points closing at 2776. Looking ahead, Weekly Jobless Claims are forecast at 380k vs. 283k previously.
U.S. Dollar Trading (USD) was still on the back foot as stock markets remained strong with traders ignoring weak US data. January Case Shiller house prices fell -3% y/y as the downtrend continued. February Consumer Confidence dropped to 63.4 vs. 72 previously on the sharp hike in Fuel prices. In US stocks, DJIA +81 points closing at 12279, S& P -9 points closing at 1319 and NASDAQ +26 points closing at 2756. Looking ahead, March ADP Employment Report forecast at 203k vs. 217k previously.
U.S. Dollar Trading (USD) with stock markets doing little to open the week the FX market looked to differing central bank outlooks for inspiration. Oil fell back on rebel advancement in Libya and this encouraged a third day of gold profit taking. February Pending Home Sales came in stronger than expected at 2.1% vs. -1% previously. In US stocks, DJIA -22 points closing at 12197, S& P -3 points closing at 1310 and NASDAQ -12 points closing at 2730. Looking ahead, January Case Shiller HPI forecast at -1% m/m.
U.S. Dollar Trading (USD) stocks markets continued to rally on strong economic data with Q4 GDP revised to 3.1% vs. 2.8% previously. Also helping the USD was hawkish comments from FED member Plosser that rates would have to rise in the not too distant future. High Oil prices did dent US consumer Sentiment with the UoM index dropping to 67.5 vs. 68.2 previously. In US stocks, DJIA +50 points closing at 12220, S& P +4 points closing at 1313 and NASDAQ +6 points closing at 2742. Looking ahead, February Pending Home Sales -0.8% vs. -2.8% previously.
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