The number from Consumer Credit in the USA was pretty positive, to the degree of 7.8 Billion, keeping the same number from last month, but shooting WELL over consensus numbers (7.5 Billion)
Are you ready for another jam packed, fun Asian Trading Session?
2101 GMT
We will start tonight with a late tea session in England with their Consumer Confidence numbers.
2150 GMT
a while after that, we will see Japan with their Monthly Core Machinery Orders look for 1.1%.
Australia will see a couple of news events going on too! First we will see at 2230 GMT Westpac Melbourne Institute release their Consumer Sentiment Statement, then another hour at 2330 GMT we will see a number on Australian Home Loans compared to previous month!!!!!
Then you will have to wait to the euro session to get the scoop for the European Market!!! See you then!!!
How is the trading going? Despite a tough euro, the dollar just keeps fighting it’s way back! After last Thursday’s 3 cent drop of the euro, we have seen a zig zag of the currency pair since.
Let’s see how well the dollar can hold up to some negative numbers in the housing sector. Just coming in, the Pending home sales have fell off -4.7% from last month’s gain of 6.3%. The housing market is not looking like it is going to be in recovery mode for a good while.
At least there was some good news. Wholesale inventories went up .8% beating the consensus’s .7%, but down from last months 1.3%. And the crude price had sank nearly $6 in the last two days. Is the euro and oil headed for a strong correction?
Federal Reserve Chief Ben Bernanke this morning made a statement on having the central banks extend funding to struggling investment banks, ones that got hit hard during the sub-prime mortgage crisis.
This afternoon we will get the numbers for Consumer Credit, and England will have a Late night tea session with the Consumer Confidence Index later on.
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Filed under: Asian Open/North American Close News, Uncategorized by Thomas Howell