Good morning and welcome to another trading session.

Oil News: Crude is dropping not at the rate of Bear Stearns but close to it. Oil is right now dropping another $1.33 down to $120.08.

Outgoing Asian Market News:
AUSTRALIAN BANK RATE NEWS!!! As of right now, we just got word that the Reserve Bank of Australia will keep the rates at 7.25% for right now. Do not forget the Us has a rate decision also later on today!

Australia also has a Services PMI that was released at 42.8 compared to the previous 45.4.

ANZ Commodity prices also finally showed up as well. Commodity prices were up 1.8% over the previous month!

MAJORS:
EUR/USD: 1.5533
USD/JPY: 107.91
GBP/USD: 1.9567
USD/CHF: 1.0509
Here is the European News for today:

We are still waiting for the Halifax House Price Index.
All times in GMT:

0900 and 0930: Europe and England are releasing their purchasing managers index in the services sector

also at 0930: England has numbers coming out for the Industrial Production and Manufacturing Production.

1000: caps off the european major news with Europe’s Retail Sales Monthlies!

See you in the US market!!!!
TRADE ON!

Thomas Howell
GoForexTrade.com

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