Good morning Europe! Good evening Asia!

Here is just a quick market cap from Asia.

In Australia…
Retail Sales expections fell just 0.2% short. I expected this and being in the worldwide slump as of right now. Inflation though has fell below expection, which is a good thing, coming in at .3%, two points below the expected .5%.

Company gross operating profits have increased 2.2% showing signs of life in the manufacturing end
of things. I am guessing that good things are coming shortly.

We neglected to mention that Australia also had a number on the Index of Commodity Prices, which is measured annually. This number came in at 28.6%.

In Japan, cash earnings was rated at .6%, falling way short of the 1.3% forecasted.
As of 2.55am EDT (655GMT)
USDJPY 105.37
EURJPY 163.56
GBPJPY 207.41

Ok, without further adieu, Europe’s Session

Today, Europe is gearing from a couple of days off to face a really busy news day. Let’s kick it off with the news events for Switzerland:

Switzerland (CHF)
Quarterly Gross Domestic Product is up .3%
in about 30 minutes, the reports from Purchasing Managers in Manufacturing will be out (SVME PMI)

EUROPE - 13
Also putting in Manufacturing Number in today is the Euro, which is expecting the number to come in at 50.5. And later in the day, Expect a few words from ECB president Jean Trichet too.

ENGLAND
Tentatively, Halifax Bank of Scotland expected to get numbers out on home finances. England too is putting in their manufacturing index numbers, as well as the recent number of Mortgage approvals. Mortgage approvals, look for magic number 64 thousand. I am not going to expect much positivity on this number, just because everybody is tightening their standards with the recent subprime mortgage mess. Last, but not least, Net Lending Numbers for individuals, which is looking at 8 Billion dollars from last month.

There is the Euro market open for June 2, 2008, Have a good night’s sleep my fellow Asian traders, and TRADE ON!

Tom Howell
www.GoForexTrade.com

Follow GoForexTrade.com On Twitter!

Leave a Reply