Good evening to the US market, and Good morning to everybody on the other side of the big pond.

So how did the North American Market fare today?
In Canada, Building permits were up 14.5%! They got a great deal of building out there and talk about Ivey. The Ivey PMI indices have a nice positive number at 62.5 over the 58.8 expectation.

So, The United States had a nice day, despite getting a few upped by the EURO. Less folks were filing unemployment claims over last month, which means with less people on the dole(sp?), the job outlook looks a bit stronger in an optimistic anticipation of Tomorrow’s job report. Natural Gas supplies are up as well, to 105Billion Cubic feet, over the previous levels of 87Billion Cubic Feet.

Also in Us news, The Retail Sector become stronger. The Dow has also punched up 200 to end at 12.604. But I tell you, the ECB really out did the dollar after Trichet expressed his opinion on raising rates to try to curtail looming inflation. Sweet Crude, also went for the joy ride as well, increasing 4 dollars on the NY Mercantile Exchange.

Oh! I almost forgot! Our cheesesteak loving, Philadelphia pretzel eating Fed Guy Charles Plosser has stated a few words about lending and risk taking.

Ok, so we got the US/Canada News out, so let’s concentrate on the Asian session, shall we?

On Tonight’s Schedule, we have Construction Purchasing Manager Index Numbers coming in less than two hours from now.

That is all for news. Talk to you later around the Euro open!

TRADE ON!
www.GoForexTrade.com

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good afternoon! How is everybody doing?

Let’s recap all the fun things from the european market.

GRAB a tea and read! England News!!!
Finally, we get a number from Halifax regarding House Price. I seriously don’t know what all the fuss was with waiting for this, because Halifax reported 2.4% in the red. The Bank of England decided to keep rates at 5%.

EUROPE news!!!
And Euro decided it had enough, and thought it could kick some major ass after hearing ECB’s Trichet’s podium piece on raising central bank rates in order to curb Inflation. The euro decided to two up the dollar by gaining a couple of cents to reach over to around 1.5559. This is after of course the ECB stating that they are going to raise their inflation forecasts for this year and next.

Despite all of the talking, the Minimum Bid Rate is staying at 4% for right now.

Germany…
Monthly Factory Orders are down 1.8%. And you would think with all of them cool BMW 3 Series they sell, they would have a problem with this!

Ok, so let’s delve into some US/CAD news shall we!!!

O CANADA!
Canadian Monthly Building Permits have gone up 14.5%! Wow! Canada is just having a great time with their housing economy I spose! With how bad the building permit declines are out here (Take for example, the great declines of permits in NYC) I can only hope it turns around. Another dashing glimpse of positivity came from the Ivey PMI’s, with a rising trend of 62.5 over the expectation of 58.8.

Unemployment Claims in the US of A!
Yes! less jobless claims have been reported. They were betting the house with 374K claims, and ended up getting on the better side of things with 357K claims. I guess that is what happens when you have to leave your 9-5 executive job, and end up working for walmart! lol

Talking about Walmart, heh, we are going to report that, the big box discounters, as well as retail in general had a very strong May. Looks like people might be wanting to spend some MONEY once again!

NATURAL GAS IS UP!
Our Natural Gas stores are at 105 Billion Cubic Feet! up from 87 Billion Cubes!

Around this time, Our local Fed King Plosser is going to talk. About what? maybe something about our wonderful cheesesteaks (AND YES, THIS BLOGGER IS FROM PHILADELPHIA! WOOT!!! LOL) or maybe something about how the Euro is handing our asses to us? Who knows! Maybe he would compare our recent sector improvements to the Phillies! GO RYAN HOWARD!

Have an awesome Afternoon, Night, Morning, What have ya, and talk to you around Close.

TRADE ON!
Tom Howell
www.GoForexTrade.com

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Good morning! go Grab yourself a full breakfast! There isn’t major trading News events on the European side for a good while! Go relax and take a small break, YOU DESERVE IT FOR YOUR HARD WORK!

For right now, let’s cover the Asian Market Session:
For Oceania, New Zealand’s Central Bank has decided to keep interest rates still for right now, and Australia’s trade deficit was well under expectation, and positive, but didn’t move the Aussie Dollar much.

EURO NEWS

When you come back with a full belly and a pot or two of coffee or tea properly drained, We have Monthly Germany Factory Orders around 1000GMT. the magic number to look for is .4%. Also look for the Minimum Bid Rates from the ECB to come out as well. Then shortly after, the European Central Bank will hold a press conference.

ENGLAND NEWS:
And we are still waiting for Halifax Bank to state the house price monthlies, but a bit later on, around 1100GMT We will get a statement on Bank Rates. And to coincide with the Bank Rates, we have the Monetary Policy Committee talk about the status of the economy, and projects an economic forecast.

CURRENT RATES:
EURUSD 1.5446
USDJPY 105.61
EURGBP .7907
AUDUSD .9560
GBPUSD 1.9531
CRUDE OIL 122.05

Have an awesome trading Day! And I will be back in several hours for the US report

TRADE ON!

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