Welcome to your european news session report. From the asian session… Crude Oil remains pretty much unchanged throughout the asian session despite the conflicts in georgia. Main pipelines to the province have been shut down for protective measures and protect commodity prices.

MAJORS:
EUR/USD: 1.4929
GBP/USD: 1.8981
USD/JPY: 108.74
USD/CHF: 1.0841

Japan’s trio of news events have been mixed. The Preliminary Gross Domestic Product, had came in exactly on the nose with expectations, but the GDP price index failed to impress at -1.6, falling just short of -1.5. we can report that the current account has done a great job at 1.29 Trillion to the good.

In Australia, Westpac Melbourne Institute announced 9.1% on their consumer sentiment survey, and the Wage price index went in the green to the tune of 1.2%.

Tonight, in the European markets, we will see a England dominated session, with their Jobs report on the line. 0930 GMT will roll out the Claimant Count Change (Unemployment Claims), Average Earnings Index, and Unemployment rate. Look for a small increase on the unemployment rate and Claimant Counts.

England has one more item at 1030 GMT, which is a report on Inflation, provided by the Bank of England.

Europe has a number on Industrial Production around 1000 GMT.

Have a good one, and remember to TRADE ON!!!!

Thomas Howell
goforextrade.com

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