Sunday, February 20, 2011

Forex day trading course Asia open

Forex day trading Asian open Risk sentiment was kept propped up during the Asian session this morning, this of course following a strong close to the US equity markets last night. US markets  The Dow closed higher, posting a gain of a little more than 100 pts (+0.97%) whilst the S&P was up 1.12% on the session. Markets were boosted earlier in the session by a robust home sales figure which showed purchases increased 24 percent from May to an annual pace of 330K. The data undoubtedly had market participants in a bullish mood regarding the economic outlook and with no major macroeconomic releases during the Asian session this morning, that mood has continued to keep risk appetite higher in Asia this morning. With the Asian equity markets slightly in the red (the Nikkei is 6.81 pts lower at the time of writing) perhaps a view at the currency markets would be more appropriate. The EURJPY continued its good showing over the past few days and was trading close to that important 113.50 – a level which has proven to be a strong resistance level since the end of May while both commodity and growth currencies were higher against the Greenback. Ausie Market Earlier in the morning we had the release of the AUD conference board leading index for May which showed the short to medium term growth forecast in the Australian economy increased to 0.3% from a previous reading of 0.1%. We saw the AUDUSD pair break through 0.9000 (a level last seen on May 13) yesterday, and saw it find good intraday support during trading in the Asian session. We continue taking it session by session and turn to Europe and the US with the release of the important Consumer confidence reading due out at 1400 GMT.

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