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US/Canada Markets: Will there be a hard fall?

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Today’s question in the financial sector: Will there be a hard fall in the markets?

It could of started with the slide of the Nikkei 225 over in Japan in the overnight session. Despite the great news of Japan cutting their interest rates to .30%, we have seen a sharp decline in the Asian markets, and with the exception of the DAX, the european markets slid from the top in their respective session.

The European session’s news:

Germany reports a 2.3% decline in overall retail sales.

Europe’s annual index on consumer prices have produced a number of 3.2%, lower from the previous 3.6%. Italy’s CPI was flat at 0.0% and Europe’s unemployment rate remained at 7.5%.

Switzerland’s KOF economic barometer, decline to .35, under the .49 forecasted level.

US Markets: Waiting for a decline? Let’s see!

Employment costs have remained the same from last quarter. Personal spending is down -.3%, and Personal Income only grew .2% from last month. Personal consumption remains at .2%, but is better than the .1% forecast.

A few more items on the US market before we call it a trading week:

Chicago will shortly released their Purchasing Manager’s Index. Then the University of Michigan is going to put their economic research team to the test and throw some numbers on consumer sentiment and inflation expectations. Then Uncle Ben Bernanke will speak via satellite at a conference on Mortgage Meltdowns.

Have a great day! Just remember wherever the market goes, keep your chin up!

TRADE ON!!!
Tom Howell
goforextrade.com

European Markets - Japan Cuts Rate Down To 0.30%

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Today, is a numbers on a downward shot for the asian markets. The Nikkei is at -452 and Hang Seng -720.

Guessing it could of been the fact the interest rate was only cut .20 points instead of .25? hmm, I will let you decide. The Bank of Japan also released a report on the outlook of the economy and also announced their own version of a bailout rescue plan.

It could be the state of the economy, and that everybody is predicting for a heavy downshot in the world markets, and from hearing the news outlets and bloggers, That Friday or early next week will be where the downshot will occur.

Japan did very good with Housing Starts, a staggering 54.2% from this time last year! Wow! I Think the US should take note!

Currency Pairs:
USD JPY: the Sushi has been tested around 98.65 for 24 hours before the rate call in Japan. Now within the last couple of hours, the pair has dropped to 97.10 on anticipation of BOJ rate cuts and a optimistic report on housing starts.

EUR USD: Eurodollar is dropping below 1.26 after having a rally to 1.33 and started it’s decline in anticipation of the Federal Reserve Rate Cut and has been dropping ever since.

Europe News To Look For: (Times In GMT)
0700: German Retail Sales
1000: EU Consumer Price Index flash estimate
1000: Italian Preliminary Consumer Price Indec
1000: EU Unemployment Rate
1030: Swiss KOF Economic Barometer

Have a great trading session! Make them pips and TRADE ON!!!

Asian Markets - US GDP Declines, Oil Drops Like a Bad Habit!

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The day after the discount interest rate drops in the US Federal Reserve, The asian markets are starting the day off in the wrong foot. As of time of writing, the Nikkei 225 is at -318 and the other two markets are not open yet. A possible tell tale sign of this huge downshot every analyst is waxing about? hmmm….

A little while ago, The Japanese market news seemed to propel the trading sentiment. Looking at a decline in unemployment percentage, household spending, modest Consumer Price Indexes, a and a slightly down Manufacturing PMI could explain the whole situ.

Or it could be some profit taking before Japan’s Interest Rate decision, which analysts are looking at a quarter point, bringing the interest rate down to .25%.

Australia’s RBA will have some words from Dr. Guy DeBelle, the Reserve Bank’s Vice President. Private sector credit from previous month has increased .7%.

The US Markets had their day in the barrel. The economic barometer, the Gross Domestic Product, has shown a .3% decline from last quarter. Another quarter of negative production could technically classify us as being in a recession, if we didn’t know already.

Unemployment claims had remained the same around 479K jobless claims. Natural Gas Storage is at 46 Billion Cubes, well over the 41 Billion cube forecast.

Oh, and before I go, check out Oil! Oil drops nearly $5 to $64.90.

Folks, Have a good Asian Session and TRADE ON!!!

Forex Tracer - Automated Forex Software Video - Installation

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US and Canada Session - The Morning After

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Today is just another day. Charles Plosser and the cheesesteak gang at the Philly Fed are reeling after The Phillies win the world series. The Federal Reserve cut interest rates down to 1%, from 1.5%. The world’s markets are celebrating with a huge result in their respective markets.

The usual suspects in the financial news, were so so, with a horrifying New Zealand Business confidence, Europe’s Consumer Confidence, and a decent unemployment change in Germany.

Today’s market, will have a couple of Canadian news events, such as Raw Materials Prices, and Industrial product Prices.

The United States will release the Advance Gross Domestic Product quarterlies.

We will also get some wordage from Another Fed governor, Randy Kroszner. Unemployment Rates and Natural Gas Storage will be also released today around 8:30a EDT.

Have a great day, and see you in the Asian Market reports!

TRADE ON!!!

BREAKING NEWS: The Federal Reserve Drops a half point

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:::::BREAKING NEWS:::::

The Federal Reserve just dropped the Key interest rate a half a point from 1.5% to 1%.

The last time the key interest rate was at 1% was around 2003-2004. Markets will be mixed and I will have a full report on the movers and such in the Asian Market Report.

TRADE ON!!!

Tom Howell
GoForexTrade.com

United States and Canada Market - BIG DAY!!!!

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What a big day today is going to be for the US Market. Today we will know a few heavy hitters will take place.

Firstly, we have the durable goods report coming very shortly, around 8:30a EDT.

Two hours later, we will have Crude Oil inventories. In anticipation of the inventory numbers being released, crude is currently being traded at $65.70. Remember, it could go either way, and the inventory count is not the only factor weighing in right now for the commodity.

Then 2:15p EDT comes the big enchilada. We will get the official statement on bank rates from the Federal Reserve. Everybody is seeking to have a half point cut to take the interest rate down to 1%.

Recapping the European Markets…
The FTSE and CAC are looking rather good at this time with 200+ point gains in the session. The momentum clearly hasn’t stopped from the surges from all the major global markets as the possible glimmer of optimism of a Federal Reserve rate cut is waiting in the wings.

We are still waiting for an Overall number ffrom Germany for the preliminary Consumer Price Indices, but the Lending reports seems to be in good spirits in England as there is a .5 Billion gain over expectation in personal lending, and the mortgage approvals went up a thousand over forecast to reach 33,000 mortgage approvals.

That might not seem much, but also realize that England only has 60 Million people, and stricter credit standards than the US, which for one time had loose standards and a population close to 300 million people.

Hope for the best! Keep your chin up and the dream alive!
TRADE ON!!!

Thomas Howell
GoForexTrade.com

European Markets - Asia ok Crude $64.25 Nervous on Fed Rate Cut

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(At the time of writing, the EURUSD on the 30 minute chart has seen a 70 pip upshot and is hovering around $1.27. Also The Nikkei Average right after I finished the article here, upshot +465 points, now 8087.83! )

A mixed session for Asia, as the Nikkei pulls 140, modest compared to yesterday’s bull blowout. The Hang Seng pulls 171, but Singapore’s Straits are not boding as well at a negative 24.

All is well, but nerves are felt all over the world with the United States Fed Rate Decision coming during the US market. The Federal Reserve is going to have to make some major decisions, and possibly push a rate cut that will bring the interest rates to historical lows. The forecasters are hoping for a 1 percent rate, taking a half point drop from the current rate of 1.5%

Crude Oil is sitting around $64.00 as profits from oil companies are coming into question and shrinking demand and economic factors weight heavy.

The european markets have a few index releases that are newsworthy.

Sometime in the european session, we will see Germany release the Preliminary Consumer Price Index. We are looking for a .2% decline.

England has two news items for this trading session and an evening tea. Net Individual Lending for previous month and Mortgage Approvals will be the session news, but for the evening tea, expect some words from Monetary Policy member David Blanchflower at Kent University doing a guest lecture.

All is well, and hopefully the vibe is positive for a rate cut. We will discuss more on this at the US/Canada report!

TRADE ON!!!

Asian Markets - The US Markets follow the global upspike

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Another high finisher for the Dow Jones, Nasdaq, and Standards and Poors 500. A 889 point (10.88%) spike in the Dow to send it over 9,000 points surely shows that the market still has the fight in this recession.

The bullish activity on the markets was provoked by a previous european and asian session that had seen some hi percentage gains on news of a possible US Fed rate cut. This is amazing having such momentum in the markets despite Bearish housing data, Consumer Confidence, and Soggy Manufacturing numbers.

Oil has had a tumultuous day in the US markets, as the slick stuff fluctuates above $65 in intraday trading, but settles just under $65 for right now. More on crude in the European Market report.

Asian market index:
Being a few hours into the Asian market, New Zealand has taken a huge hit with a -1.183Billion NZD Trade Deficit.

Japan’s Preliminary Industrial Production monthlies have increase 1.2%, over the .5 forecast.

Sit tight and get ready for another Asian market session! See you in the european session

TRADE ON!!!

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US/Canada Markets - World Markets Resurge!

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In the overnight trading sessions by Asia and Europe, all of the major indices have greatly spiked upwards in antcipation that the treasury is starting to shore up businesses affected by the bailout with desperately needed funds to keep the finance industry afloat. 95.21 is the latest on USDJPY.

Also the upspike was caused due to the beginning of a 2 day meeting by the Federal Reserve to discuss the interest rates situation.

Oil is seeping upwards on all of the good news. By the opening of the US Market, Light Sweet Crude Oil is breaking past $65 per barrel despite the lessened demand for fuel.

The indices from Europe:
EURUSD: 1.2523
Germany’s GfK confidence level has increased at 1.9 over the 1.5 forecast.
Switzerland’s UBS consumption indice shows 1.67, which is over the forecast of 1.58.
England’s Business Industry, on Realized Sales have done more optimistic at -27 rather than the forecast of -35.

The US Market Indexes to look for (Times in GMT)…
1300 (9:00am EDT) - Standards and Poors /CS Housing Price Index.
1400 (10:00am EDT) - Conference Board’s Consumer Confidence
1400 (10:00am EDT) - Richmond Manufacturing Index

TRADE ON!!! GO PHILLIES!!!
Tom Howell
GoForexTrade.com

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