Good morning! How did you sleep?

Looks like Japan had some news from the Asian Market. CSPI was up .1% from a year ago. The really good thing for Japan, was the Trade balance, which was reported well over expectation at .64 Trillion!!!

OIL: Crude stayed around $137 for the Asian Market.

So, what is in store with the European Market this morning???

A few things are going on actually. In Italy, look for numbers in Monthly Retail Sales. The magic number for retail sales is .3%. A couple hours from now, ECB President Jean Claude Trichet will be speaking (actually testify) at the quarterly hearing before the Committee of Economic and Monetary Affairs of the European Parliament, in Bruxelles (Brussels for the geographically challenged.) Try to sniff for some news on monetary policy and interest rates.

Europe will also release numbers for Monthly Industrial Orders. They are expecting a .5% decline in the reporting numbers.

Then over in England, The Confederation of British Industry will have the Distributive Trades Realized measurement, which will ask retail corporate executives their opinion and forecast in the retail sector. This is a heavy hitter for GDP, and consumer spending.

See you later on! TRADE ON!

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