Hey! How is everybody now? doing some good trading I hope!!!
We finally got word on the Domestic Vehicle Sales for the USA. Looks like the production has fallen sharply below expectation here. At the forecast of 10.2 Million automobiles, we only see a cap of 9.7 Million. Quite depressing for the US economy…
For the Asian Market…
Japan will release their Monetary Base comparison to previous year in about two hours from now.
Australia will go through Building Approvals and Retail Sales a couple hours after Japan’s news. Both indices are Monthlies.
That is the big news until the European market where Jean Trichet Will Speak in Paris.
We will cover that and more in the European Market Report…
TRADE ON!!!
England
Nationwide House Prices are down -.9% but decrease wasn’t as bas as predicted at -1.1%
Manufacturing PMI was at 45.8. Just a tad under forecast.
Switzerland
SVME PMI was at 54.9.
US MARKET:
O Canada, have an awesome day off! The land of Rush, Molson, and Gilles Villeneuve are having “Canada Day”. Have a good rest, and see you tomorrow!
The US had a few reports released already.
The institute of Supply Management released a Manufacturing Index and Manufacturing Prices. The index came in positively at 50.2 over the 48.6 forecast. And the Prices were at 91.5 over 87.1.
Construction spending also was in bull territory with having only a -.4% decline, instead of a -.5% decline. We are still waiting for a number on Domestic Vehicle Sales. We will recap the number this afternoon.
Oil: Fluctuating around $142 a barrel in the NYMEX.
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Filed under: Asian Open/North American Close News by Thomas Howell