(USD) was strong for most of the day as risk aversion remained elevated and markets focused on bad news stories outside of the US. Stocks in the US session finished on a positive note and this led to the USD paring back gains. Helping sentiment was BoA announcement they had repaid $45bn in TARP money. DJIA +51 points closing at 10337, S&P +4 points closing at 1095 and NASDAQ +10 points closing at 2183. Looking ahead, Weekly jobless claims forecast at 460k vs. 457k previously.
The Euro (EUR) new 5 week lows in Asia were seen on stoploss runs before consolidation and a small bounce the rest of the day. Weak Oil and a negative rating watch on Spain are hurting sentiment towards the single currency. Overall the EUR/USD traded with a low of 1.4667 and a high of 1.4784 before closing at 1.4730. Looking ahead, Swiss Rate Decision forecast to remain at 0.25%.
The Euro (EUR) new 5 week lows in Asia were seen on stoploss runs before consolidation and a small bounce the rest of the day. Weak Oil and a negative rating watch on Spain are hurting sentiment towards the single currency. Overall the EUR/USD traded with a low of 1.4667 and a high of 1.4784 before closing at 1.4730. Looking ahead, Swiss Rate Decision forecast to remain at 0.25%.
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