Hey there! How did the trading go folks? Making any serious money??? In forex news, oil takes a small dip to reach $113 even despite the russia-georgia debacle, and the cheesesteak kings at the Philadelphia Fed see beyond the cheese wiz and fried onions and state that the economy is going to slow down even more then their previous forecast. We also got news on how the Banking industry lost a half a trillion dollars in bad mortgage paper due to the subprime mortgage crisis!
And how did the US Market do?
The Trade Balance session did pretty good, with Canada coming in at 5.8 Billion and the United States having a decline of -56.8 Billion, but not as bad as the forecast of -61.8 Billion.
the Investor Business Daily also came out ahead with 42.8 over forecast’s 38.5.
The Asian Forex Market Session is jam packed with news events today, times in GMT:
0015: Reserve Bank of Australia Assistant Governor Doctor Philip Lowe speaks in a finance related forum in Sydney.
0050: Japan will release a trio of reports, two being Gross Domestic Product, preliminary quarterly, and preliminary price index. Also the Current Account numbers will be released as well.
0130: In Australia, the Westpac Melbourne Institute releases the Monthly Consumer Sentiment statement.
0230: Australia will also release their wage price index.
See you in the European Market Session! TRADE ON!!!
Good morning and welcome to the North American Forex Market Session. are you ready to make some cold hard pips today?
Oil is taking the usual decline, and the euro is getting a big ass kicking. We were expecting this especially in the recent decline in energy commodities and the lowering energy demands of oil consuming countries like the United States.
So how is the european marketing doing? Lets find out, shall we?
in France, we had their consumer price index released and we found out that this index has declined .2%, which was right on forecast.
England had a few news reports as well. the DCLG House Price Index has declined .6%, well under the +1.5% consensus. Their Core Consumer Price Index was up 1.9%, while the regular Consumer Price Index arrived at 4.4%. The retail price index has increased 5.0% too! so there was good news in good ol england!
Crude oil is still lagging around the $113 pricepoint.
US/Canada Market News:
Today, around 8:30am EDT/1330 GMT, both the United States and Canada will release their own Trade Balance statements, both expecting to be heavy hitters of course!
Also look out for the investors Business Daily Economic Optimism report to come out shortly for the US Market!
Have a great day and TRADE ON!!!
Thomas Howell
goforextrade.com
And here is today’s european forex market session news: All times in GMT.
0745: Frances Consumer Price Index Monthlies. look for -.2%.
0930: We have a trio of reports coming from England. wow, seems like england loves to pair up their news events in twos or threes as of lately! heh
We start with the Core Commodities Consumer Price Index, then the regular Consumer Price Index, and then we finalize the market session with the Department for Communities and Local Government’s House Price Index.
Have a great trading session and see you in the US and Canada Market session!
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Filed under: Asian Open/North American Close News by Thomas Howell