The Philly Fed Manufacturing Index scored +8.7 points, far better than -9 that was expected. US Existing Home Sales rose to a pace of 4.91 million, only marginally lower than 4.94 that was predicted. The big surprise in the Philly Fed Index improves the mood in the markets only temporarily.,The markets remain obsessed with every headline from the European debt crisis. EUR/USD bounces off lows but doesn’t really recover. GBP/USD, AUD/USD also edge up as “risk currencies” gain minimal strength. It’s important to note that the Philly Fed Manufacturing Index is a fresh figure, that looks at the current month. The drop to -30.7 points two months ago was a bitter disappointment that shook the markets. It later recovered to -17.5 points, but the negative number still implies worsening conditions. This return to positive numbers is very good news for the US. Earlier, weekly jobless claims hit 403K, within expectations and still above 400K. Dips below this number seen beforehand couldn’t be repeated. The euro continues moving mostly on news or rumors regarding the debt crisis. The detailed conditions under which the EFSF will buy bonds gives the ECB strong powers. A leverage or no leverage of the EFSF also consumes a lot of headlines towards the EU Summit on Sunday, that might be postponed. A lot of fog that controls the markets… For more on the euro, see the EUR/USD forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. Forex News share Read Next Forex Daily Outlook – October 21 2011 Anat Dror 10 years The Philly Fed Manufacturing Index scored +8.7 points, far better than -9 that was expected. US Existing Home Sales rose to a pace of 4.91 million, only marginally lower than 4.94 that was predicted. The big surprise in the Philly Fed Index improves the mood in the markets only temporarily.,The markets remain obsessed with every headline from the European debt crisis. EUR/USD bounces off lows but doesn't really recover. GBP/USD, AUD/USD also edge up as "risk currencies" gain minimal strength. It's important to note that the Philly Fed Manufacturing Index is a fresh figure, that looks at the current month.… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
