Wow! Quiet day for the european trading session! I thought there was not much major news on the Asian market, having only two major news events from Japan.

The only news on the european front for today would the Monthly German Wholesale Price Index. The consensus suggest that the number will be 1% over last month’s 1.4%.

In the US Market Session, I will report both Japan’s numbers on Industrial Production and Household Confidence.

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Thomas Howell
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Good afternoon and welcome to the Asian Market Session. Are you making any pips on the incline of the Euro and the Crude Oil jump?

The dollar has downed a bit along with oil increasing. Primarily due to the issue with Iran playing with missiles and of course a possible fear that also the same middle eastern country could cut off supplies and really screw with our economy. Fun isn’t it?

The eurodollar was at 1.5772 at time of writing.
Crude Oil was around $141.35 a barrel at time of writing.

So, how was the US market session?
Well, besides Bernanke wanting the Government to get involved with big wall street firm collapses, Unemployment claims have decreased nicely from 404K to 346K. This is well under the 397K consensus, which means we could be having SOME possible economic Growth.

And from England, the Bank Rate has stayed at 5%. The primary concern of the Monetary Policy Committee, is that the weighing of Inflation versus economic stability is a major factor in keeping the rate unchanged. Raising the rate would stave off inflation, but also could really mess up any mortgage or loan arrangements, that work on a variable or an adjustable mortgage or loan rate. Then you will have another mortgage crisis on top of one we are already having.

Case study is the current scenario in the US. With a massive drop in the Dow and a huge issue with Mortgage Foreclosures, the Fed had to make a move with cutting the interest rate drastically. Although we are saving homeowners from getting foreclosed, meanwhile prices for consumer goods and etc are rising! That is what we call inflation.

Natural Gas Storage, increase 5 Billion Cubes from 85 Billion Cubes to 90 Billion Cubes, but has not made the consensus’ bet of 95 Billion Cubes.

Trichet had a few words today on inflation and the current monetary policy. Though he did not signify a possible rate increase on top of the 25 point increase that was recently added to interest rates, Trichet mentioned a high concern for inflation.

With the Asian Market, We have two later news annoucements:
Japan will have monthly Industrial Production numbers around 1630 GMT, and a half hour later, Household Confidence.

Have a great trading day! TRADE ON!!!

Thomas Howell
Editor
www.GoForexTrade.com
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Good morning traders! How is your day so far?

Today in the US market Session, we are going to see a few heavy hitters in the news pipe today. First, we will recap the news from the European Market Session.

French Industrial Production had slid 2.6%, sliding past the consensus data of -.5%.

We also got word from the European Central Bank’s Bulletin, quoting that the recent rate hike from 4% to 4.25% will help stabilize prices in the medium-term. They will now expect Inflation to stay under control for quite some time, and despite E-13 growth being a bit slowed for the second quarter, the trend for the long term, will see some modest growth.

We also got a number for Italy’s Industrial Production. We got a decline of 1.4% over last month’s slight increase of .4%.

We finally received numbers from Halifax on their Home Price Index. Home prices have decreased 2% from last month. I would think OUCH because a mere 2% can cut into how much you can get from your home. perhaps you had a $300,000 home, and all of a sudden, you had to come down 2% to try to keep your house in the competition for homes being sold in your neighborhood. I know your realtor and you wouldn’t be happy in taking the price cut, But that is just not happening in just the US or UK, but across the board!

Leaving my rant on housing prices, We are still waiting for a Bank Rate statement from England’s Monetary Policy Committee. We will also get a late night Euro Podium Piece of Jean Claude Trichet, the President of the ECB as well.

For the US Market, WE will have a few things on the agenda! First we will have unemployment claims, the Ben Bernanke will testify along bedfellow and Treasury Head Henry Paulson at the House Of Representatives Committee on Financial Services. Let’s hear what Uncle Ben has to say!!!

Then we will get a number on Natural Gas Storage.

Have a great day! and TRADE ON!!!!

Thomas Howell
GoForexTrade.com

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