October 17, 2011 Forex Trade Signals

The S&P 500 Index fell 1.9 percent yesterday following gains of over 6 percent witnessed last week. As global equities finished well in the green late on Friday, global optimism was somewhat punctuated overnight with German Chancellor Angela Merkel’s chief spokesman Steffen Seibert stating that European Ministers will not be providing any quick solutions to the regions underlying fundamental debt problems when policy makers meet again on Oct 23. Whilst such comments have certainly enhanced the reality that there are no easy solutions, the EURO weakened to an overnight low of 1.3729 as it opens a full cent lower against its US Counterpart this morning at a rate of 1.3745. In unrelated developments overnight US Economic Data again produced some mixed signals with Industrial Production Figures of 0.2 percent matching expectation whilst in another report the Federal Reserve Bank of New York’s general economic Index produced a soft result of minus 8.5.Meanwhile this morning following on from what proved to be another busy session the Greenback opens lower against the Japanese Yen at a rate of 76.828.

Now, on to our open positions and new trades. Lets take a look at the specifics:

Open Orders

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New Orders

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