Best Forex Trading Signals
Global Stocks extended their gains overnight with the S&P 500 adding 0.3 percent. In the US overnight, global optimism was pushed higher as the Conference Board’s Consumer Confidence Gauge climbed to 56 against a forecast reading of 43.9. In a further sign that the US economy remains well insulated at least for the time being from the woes of its European Counterparties, the report was the third-strongest in relation to expectation since 1999. Following the strong reading, the US Currency was sold off with the Dollar Index declining 0.3 percent; meanwhile this morning the US Dollar opens weaker against the Japanese Yen at a rate of 77.923.
In European news, finance ministers are due to meet this evening to discuss the possibility of channelling ECB loans to struggling Nations through the IMF, hence bringing the ECB to the front line in an attempt to expand its bailout fund to 1 Trillion Euros. In Italy overnight the struggling Nation was again forced to pay above the 7 percent threshold to sell 7.5 Billion Euro’s worth of bonds, with Bond-Yields still remaining a concern the EURO had another choppy day of trading, ranging between a low of 1.3285 and a high of 1.3441 against its US Counterpart. This morning sees the EURO open relatively unchanged at a rate of 1.3330, with plenty in the form of economic release due this evening volatile conditions are expected to continue.
Now, on to our open positions and new trades. Lets take a look at the specifics:
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