Well well well, if we couldn’t have just another fine freaking day on the street! Another day of widespread panic on the world markets, as the Retail and economic outlooks in the US market are about as bad as week old dead salmon laying on a grass marsh.

I seriously do not have any trust in the market now. Bad as week old salmon on a marsh and has more mood swings than your wife going through menopause, the uncertainty keeps on rolling. Where is the bottom? Are we yet to see a bottom to this pathetic market situation?

In the forex game (EURUSD), we are being affected from what it seems to be normal swings. a few cents and here, perfect for scalp traders who are wanting to scoop 10-20 pip trades with ease.

The dollar though as a whole is gaining ground in the world markets, only though because not only because other host currencies are having a tough time with the economy, and always concerns about inflation as well!

Remember, when you have to lower rates, inflation will eventually creep up! and if you have to raise them, you will have an increase on foreclosures god forbid if you have an adjustable rate mortgage.

Today, starting with europe, Switzerland is starting the coffee roll with Retail Sales per annum. Reported dead zero, under  the .9% up forecast.

Italian Trade Balance loss at 2.12 Billion. MORE FERRARIS!!!! heh while the dollar is gaining on the ground!!! Maybe they can have a fire sale and sell me a F430 for the price of a new Mercedes 550SL!!! That will increase the trade balance FOR SURE!!!!

Switzlerand will also push some ZEW numbers in an hour from now.

Canada is rolling out Manufacturing Sales per month.

The United States is just having one hell of a time with news. lol! The state of the news is SUCKS, with a side of Horrible!

The big hitters are going to be unemployment claims, Consumer Price Index, and TIC Long Term Purchasing. Also some major contributors to the fun today will be Industrial Production, Capacity Utilization Rate, And Chuck Plosser and the Cheesesteak Gang will release the Philly Fed Index.

But don’t go away, we also have Crude Oil and Natural Gas Storage as well! And Housing Index numbers along with Fed Member Gary Stern, will probably talk shit about the market and call out some banks for screwing things up.

And to cap things off in Asia, Japan will release tertiaries in industries, and Australia will release Import Price Quarterlies. Fun.

TRADE ON! AND keep the hope alive!!!
Tom Howell
GoForexTrade.com

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