Good morning folks, how is the trading this fine morning?

Let’s get right down to the trading news.

But first, let’s cover what has happened from the US and European Markets so far….
EUROPE!
Switzerland: The land of Helvetica had quite a few news numbers that came out earlier today…
Trade Balance is looking very good, with an increase of 1.87 Billion Swiss Francs. Good Stuff!
Also they decided to keep the Libor rate at 2.75%, and Jean Pierre Roth discussed earlier today that the economy is going to see a slight downturn in 2009, and opines about a possible rate hike to offset any inflation worries.

England: Two to the good and one to the bad here today. Retail Sales increase dramatically at 3.5% and Public Sector Net Borrowing shot up 2 Billion over expectation, which the number was 11 Billion over 9 Billion. The only pessimistic thing we have here for poundage, was the M4 Money supply, which just feel a teenzy weenzy smidgen of a percent of a point off!

E-13 (That is the Eurozone!)
Italian Unemployment Rate: 6.5%! fell from 6.2% where there was possible speculation that the rate could of dropped to 6% but went the other way another .3%.

Oh Canada!
Canada came out with their Consumer Price Index Numbers today, the Core CPI remained unchanged, while the CPI came out .4% higher than the previous month. Wholesale Sales doubled from previous months to increase at 1.4%! That is just amazing! What bad economy is going on? Oh, wait a minute, this isn’t the United States Report, duh!

United States!
So what do we have here! Unemployment claims had declined a bit from previous statments, but fell under expectations that we were going to have even less claims! Ok, euro, time to pull out the currency steamrollers!

Grosser and the Cheesesteak and soft pretzel Squadron at Philadelphia’s Division of the Fed Cited a negative 17.1 on the Manufacturing Index. More Cheesesteaks NOW! j/k

Two other numbers to report for right now: We have an increase of 0.1% on the Leading Index Monthlies, and Natural Gas Storage fell under the 61 Billion Cubes expectation with 57 Billion Cubes.

After lunch we should hear some words of sage advice from Treasury Secretary Paulson, and then we will have FOMC’s Kohn a couple hours after that.

Also for the post market in England, Sir John Gieve will talk about the Monetary Policy situation.

TRADE ON!

Thomas Howell
www.GoForexTrade.com

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