European Markets - Asia ok Crude $64.25 Nervous on Fed Rate Cut | Go Forex Trade

European Markets - Asia ok Crude $64.25 Nervous on Fed Rate Cut
October 29, 2008 by Thomas Howell /

(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!!!