Good morning my fellow european traders and once again good afternoon and evening to those trading the asian session!

We only had a few reports from the asian session to tell, but we can also mention that oil has gone up over $144 per barrel for the New York Mercantile Exchange.

In Australia, The Purchasing Managers in the Services Sector released a number of 45.4. Also, the Trade Balance came in with a Billion in deficit.

New Zealand’s Commodity Price Index from the ANZ, brought in a flat 0.0% meaning, that there was no indication of either deflation or inflation.

So, what is on the plate for the European Market? A few things here…
Right before the European Markets Open, the Swiss are looking at an inflation barometer with the Monthly Consumer Price Index. This will tell on the monthly level, if there is any inflation or deflation on the consumer end.

A couple hours after opening the markets, The Eurozone will release numbers from Purchasing Managers in the Service Sector. This will indicate supply and demand, and also confidence in purchasing manufactured goods. Not much later at all, England will also release their own Services PMI as well.

England will also in the same time slot release a Credit Conditions Survey. This survey will cover lending to businesses, and homes, and will release data on the lending aspect from the previous three months, and forecast the potential nature of lending three months from now.

Then we will head back to Switzerland for the Swiss National Bank Monetary Policy Report. This is a report where the Swiss Bank will “Tell-All” about the activities of the bank, and also opine on Monetary Policy and where it stands economically.

After such, The Eurozone will have three more reports to release. The First is Monthly Retail Sales. This report correlates with the buying power and confidence of the EU’s core consumers. Next, the Minimum Bid Rate, which is the Interest Rate for refinancing, which actually provide the core for the liquidity of the EU’s bank system. The last report will be a press conference of the European Central Bank. The press conference will be held about 45 minutes after a rate statement, and the president and vice president of the ECB will speak about their decision.

And look towards the Us market open as well! We have what my fellow Nadav calls a “Solar Eclipse” in the markets. A major rate release from the ECB, and the jobs reports from the US! Now today will be awesome!

TRADE ON! See you later! a busy US Market session awaits!!! NON FARM/Unemployment Rate LATER ON!!! Be READY!!!

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