USD Dollar (USD), Daily Review Mar 4 2010

on March 04 2010 6:32 AM

The Dollar weakened versus all 16 majors after Greece's budget package was announced and the Fed released a bearish outlook for the economic recovery. ADP Non Farm Employment Change came out worse with -20K versus -15K expected. ISM Non Manufacturing PMI came out stronger with 53 versus 51 expected. NASDAQ and Dow Jones finished almost flat after trading in new one month highs led by the materials sector. The gains in stocks weren't able to sustain as the Fed signaled a slow recovery, despite improved economic activity. Crude Oil gained by 1.49% closing at 80.87$ a barrel. Gold (XAU) gained by 0.52% closing at 1,143.3$ an ounce. Today, Unemployment Claims are expected lower with 472K versus 496K prior. Pending Home Sales are expected with 1.4% versus 1% prior.

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