Best Forex Trading Signals
Commodities rallied and the EURO surged overnight as Benchmark indices edged towards their largest three-day rally since August. In an attempt to dampen the impact of an already worrying European Debt-Crisis the Federal Reserve, The ECB along with four other Central Banks acted overnight to make additional funds available to lenders. With a change in the overnight Index swap essentially making borrowing less-expensive the move signals a collective agreement that additional firepower is required for what has now become a global issue. Following the announcement the EURO rallied from an earlier low of 1.3258 against its US Counterpart to reach an eventual high of 1.3532.
In the US Overnight the Federal Reserve through the release of its monthly Beige Book Survey stated that the economy expanded at a moderate pace in 11 of 12 districts with the report also stating that the US economy remains strong enough to avoid a further recession however not strong enough to reduce the level unemployment below 9 percent. With the economic back drop in the US slowly improving and a more globalised approach to ensuring liquidity in Europe overnight, the late rally has managed to trim Monthly losses in the S&P 500 to a mere 1.5%. Meanwhile this morning the Greenback was sold overnight as investors jumped back into riskier assets opening weaker against the Japanese Yen at a rate of 77.514.
Now, on to our open positions and new trades. Lets take a look at the specifics:
Open Orders
[Content protected for Premium members only]
New Orders
[Content protected for Premium members only]
More Like This:
If you enjoyed this article, please consider sharing it!
