Amazing!

Tonight in the asian Forex Market, there are no major news reports to talk about! This market open will not go untyped though! Let’s talk about today’s market first and then a major announcement!

The Euro’s Brutal Beating - With just about all the PMI’s except Germany’s Service PMI shit-tanking, and both of Germany’s Ifo numbers looking as bad. Don’t fear, the 150 pip dive has somewhat recovered. you could thank the US market’s sensitivity to Oil for that one!

Oil - Despite Saudi Arabia’s growing defiance against OPEC’s position in not increasing oil production levels, the sweet, SUV sucking commodity took an upswing to the tune of $137 a barrel!

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Good afternoon, evening, and morning wherever you are!

Red News for Europe:
WHOAH! Am I seeing things, or did the Euro just take a serious ass kicking? Every single news event for the european market, with the exception of German Services Purchasing Managers Index which did modestly ok, got their asses handed to them!

Germany
Manufacturing PMI: 52.3/expected 53.2
Services PMI: 53.3/expected 53.1
Ifo Business Climate 101.3/expected 102.5
Ifo Business Expectation 94.7/expected 96.3

EUROPE:
Manufacturing PMI: 49.1/expected 50.2
Services PMI: 49.5/expected 50.5

So the euro is dumping a cent an a half. But by market close it doesn’t look like they are going to give up, and the euro starting kicking some ass once again! After being plunged down to nearly 1.5465, the euro will recover at 1.5508 and head upwards.

Crude Oil: as of 1246 -4GMT, Crude has managed to slip up another dollar to $137.81.

For this afternoon, the only news event in the on deck circle is a podium piece by Bank of Canada’s Sheryl Kennedy.

TRADE ON!!!!

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Good morning to the european market traders and Good evening to my fellow asian market traders. Looks like everything has been relatively calm as of recently from looking at the majors charts.

Let’s cover some news!
England Late News:
The Rightmove.co.uk House Price Index has declined 1.2%, taking back from the last months’s gain of 1.2%

Japan News:
BSI Large Manufacturing Conditions Quarterlies…
Not as bad as a decline as they originally expected. Instead of -17, we received -15.1! Not bad! Looks like some companies are not doing as bad as some might think!

Australia News:
New Motor Vehicle Sales have declined 1.6% from previous month.

New Zealand News:
Credit Card Spending is up 5.9% from last year.

Today is a very heavy European Session, with all of the news events circulating around the EUROZONE 13.

Four out of the six events slated on the calendar, are Purchasing Manager’s Indexes. This is the index that meters corporate buying activities, on a service end and manufacturing raw materials end. First, Germany will have their own Manufacturing and Services PMI, then 30 minutes later, Europe will release their Manufacturing and Services PMI as well.

The other two events are in Germany. Both are from Information and Forschung, which will monitor Business Climate, and Business Expectations. These two indice are heavy hitters, so expect some movement when these numbers are released.

CRUDE PRICE? Hovering around $136.00. Might go down a tad, because Saudi Arabia is defiant in following OPEC’s March with crude production output, and that Iraq has relegated oil fields to foreign companies to produce and process crude.

There is your European Market Report. There are no major news events on the Calendar for the US market, but you never know what could go on with the Oil Summit, and the US economy, so we will keep tabs on those as well.

TRADE ON!

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