USD Trading Outlook
U.S. Dollar Trading (USD) more risk aversion in the European session was reversed in New York as bargain hunters entered the stock market and this helped weaken the USD. News remained negative however so the bounce may be temporary and we might see more USD strength next week. Looking ahead, March Chicago PMI forecast at 63 vs. 64 previously. March UoM Consumer Confidence is forecast at 74.7 vs. 74.3 previously.
U.S. Dollar Trading (USD) the Dollar strengthened as Commodities slumped led by Gold and Oil reacting to further talk the US might release strategic reserves to help lower Gas prices. Stocks also pulled back and added to the softer investor sentiment. US Durable Goods rose 2.2% vs. 3.7% previously. Looking ahead, Q4 GDP forecast at 3%. Weekly Jobless Claims forecast at 350k vs. 348k. Fed Chief Bernanke Speaks.
U.S. Dollar Trading (USD) the USD took advantage of fresh negative sentiment in the US session to gain across the board with the Bernanke inspired rally on Monday failing to hold into Tuesday trade.A sharp reversal in the US session with US stocks under pressure after March Consumer Confidence slipped to 70.6 vs. 71.6 previously on increasing gasoline prices. Looking ahead, February Durable Goods Orders forecast at 3 vs. -3.7% previously.
U.S. Dollar Trading (USD) the market had been waiting for clarification from the FED in recent weeks since the rally in Bonds suggested there was a fresh debate on future US monetary policy. The FED Chairman squashed this debate overnight suggesting even more easing is possible to ensure that US economy has strong growth going forward. Looking ahead, Jan Case Shiller house prices forecast -0.6 vs. -1.1% previously m/m.
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