well, Today was quite a busy day in money.

The Pound has somewhat recovered despite the depressing negative results from today’s Mortgage and Loan indices. With credit more difficult than ever to obtain and Manufacturing numbers falling short, the pound has taken a one cent fall over the dollar, but has surprisingly rebounded. At writing, the GBPUSD is at 1.9661.

On the american side of the pond, Shockingly good news in the Manufacturing indices showed an improvement and construction spending is at .4%. Despite all of the good news, The Euro had it’s day in the sun with a positive Manufacturing level as well (Amazing, it seems like everybody has to get their Manufacturing reports in on the same day!) and was playing a see-saw chart in a 75 pip range. Within a couple of hours ago, the EURUSD spiked at 1.5590, but has retreated to 1.5538.

So, with all your news chewing pleasure on this side of the Pacific fulfilled, let’s pay attention to Asia.

Japan starts the trading news day with their Monetary Base. They are basically counting everybody’s assets and turning it into a index, which is used as an economic barometer.

Australia has a busy day in the news wires with four major reports coming out within the next few hours. First we start with Building Approvals, which is the index that contains data on the amount of building permits which are approved. This is gauged on a monthly basis. The current Account numbers will come out as well, think about it kinda like a GDP number.

Also the Reserve Bank of Australia and announcements for overnight interest rate numbers are expected as well.

Folks, Have an awesome night of trading. Time for me to sleep and get rested so I can wake up at 600GMT for Europe’s Open!

Norb’s Forex Tracer is on the chopping block for review tomorrow, Don’t miss my review!

TRADE ON!
Thomas Howell
www.GoForexTrade.com

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