Good morning afternoon and evening! Another crazy day in the US session gives way to another trading session in Asia. The dollar got handed a bit today with the Euro breaking a new record at $1.60, and Oil took a nice dive! Bernanke is scaring the crap out of people with announcing that officially the US economy sucks!

Ok, to the news!!!
The euro is now at 1.5912, from heading over 1.60 for a while after Ben Spoke about the economie’s issues at hand during a special hearing in congress today.

The following news report for the Asian Session:
Japan:
Tertiary Industry Activity Index monthlies are due, and we are expecting an even 0.0.

Australia:
Westpac Melbourne Institute will release their monthly leading index at 030 GMT.
Three hours later we will have some words from Reserve Bank of Australia Governor Glenn Stevens from a private speech in Sydney.

compared to the US session, the asian session will be quiet of course, but tomorrows european and US session will not fail to please in the news department.

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TRADE ON!!!
Thomas Howell
GoForexTrade.com

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Good Afternoon, and welcome to another trading day! A busy day is happenining in the world of forex, with the US taking a nice share of the news. Let’s go through the rundown on the european market and go through what has happened so far in the US Market!

EUROPE SESSION:
England:
CPI compared to last year 3.8%
Core CPI compared to last year 1.6%
Retail Price Index compared to last year 4.6%

EuroZone:
German ZEW: -63.9
Euro ZEW: -63.7

US SESSION:
Canada:
New Car Sales are up 1.1% over last month
The Bank of Canada has decided to keep their rates at 3%

United States of America:
Core Retail sales have slumped below expectation, but boosted .8% while the regular Retail Sales number have only went up .1% PPI compared to last month has increased 1.8% and the Core PPI only have increased .2% instead of reaching consensus of .3%

The Empire State (New York) Manufacturing Index has only declined 4.9, but not as bad as expected.
Investor’s Business Daily had their T.I.P.P. numbers come out and they did rather well at 37.4. Business Inventories increased .3% also!

Today both Federal Moneyheads Ben Bernanke and Henry Paulson had their piece today. Ben Bernanke sounds like the American Citizens have a ton to worry about. Why? Ben had mentioned that all around (housing, jobs, dollar, inflation, etc), the economy is still having a problem despite the Bank rate cuts that were recently issued.

The euro took a good stab as this news occurred. The Eurozone is now at a high of $1.60. How far will the dollar drop until a resolve occurs?

Henry Paulson, had of course a few words to say on the mortgage situation with Freddie Mac and Fannie Mae and the treasury’s position on not throwing out any emergency loans or purchasing any of their stocks.

That is the US Market Session Report. Be back later on for the asian market session
TRADE ON!!!

Thomas Howell
GoForexTrade.com

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Good morning and welcome to another day of trading! We are going to cover alot of news in this blog as we skipped the Asian Market Session news.

ASIAN MARKET SESSION:
New Zealand:
In New Zealand, the Consumer Price Index Quarterlies increased 1.6% and the Food Price Index had increased 1.3%.

England of Course had a late night session today, and the RICS house Price Balance came in at -88.0% and the British Retail Consortium’s Yearly monitor had declined slightly at -.4%.

The Reserve Bank of Australia had recently held a meeting and from their minutes, we deciphered the main sticking points were about concerns of demand is slowing, and that there is very high level of concern on inflation.

In Japan, the overnight call rate was at .5%, staying the same from previous. In the later report for the US market, we will have a bit more on that.

EUROPEAN MARKET SESSION

Time to cover all things European Market now.
For the most part, England has a block items on the news list for this morning. Starting out with their pair of Consumer Price Indexes comparing to last year. At the British Airways Pensions Conference Monetary Policy Committee Member Andrew Sentance will push a few Sentences!! HA! I Made a Funny! ha ha ha ha!

One more thing from England before we move to the Eurozone. WE will get a Retail Price Index also! The expectation remains unchanged from last years 4.3%

Then finally we have the ZEW (too long to pronounce in one line, lol!) Economic Sentiment. One for Germany, and the other for all of Europe.

Have a great trading day and TRADE ON! Do not forget to join our newsletter, we will start putting some specials and exclusives very shortly!!! Just add your email to the panel on the right! We do not sell, rent or give away your email address!

Tom Howell
GoForexTrade.com

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