Good morning and welcome to another day of trading! Overnight, we seen Crude Oil take a small hike to a tad over $130 per barrel. Does this signify that this sellout of the Crude was only a profit taking session born on notice of the US relieving drilling bans, or is this just a slight buying session by scalp traders with large contracts? The session should test our theories and show us the true direction by the end of the US market.

So let’s go over the asian market shall we? It was only a few major news report through the session…

In Australia, The Import Price Index Quarterly failed to impress at 1.4%, under the consensus of 2.1%

The meeting of the Bank of Japan’s Monetary Policy Meeting Minutes resembles a similar tune to many monetary committees throughout the globe: Slowing economy, slowing consumption, Rising Energy Prices, and Inflation Fears. Another mention about the situation is, that Bonds have felt the pessimism and dropped along with the optimism. BOJ governor Masaaki Shirakawa has repeated the tone and warned about inflation and slowing growth on the Economy.

Ok, Time for the news in the European Market Session:

We are looking around 600 GMT for Germany’s Producer Price Index Monthlies.

Around  800 GMT a trio of English reports will come out. First we will hear Monetary Policy Committee Member Sir Johnathan Gieve. then at 830 GMT, we will hear both the M4 Money Supply and Public Sector Net Borrowing, a fairly light impact news item.

To cap off the European Market News, The Eurozone-13 will release their numbers for Trade Balance!

See you for the US Market Open. There will only be two items on the news, and it’s O Canada on this one!

TRADE ON!!!

Thomas Howell

GoForexTrade.com

Follow GoForexTrade.com On Twitter!

Leave a Reply