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European Markets - A New Week, A New Trend?

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The world markets start with a good footing, with positive numbers for the Hang Seng and Straits. Japan is taking the day off for a Bank Holiday.

Australia seemed to have a mixed session so far. Housing prices are down, retail sales are flat, Manufacturing has decreased. But news of decreasing inflation and a slowing on price increases for Commodities could change the moods a tad.

New Zealand’s Labor costs have increased 1.1%

Latest currency prices:
USDJPY: 98.97
USDCHF: 1.1585
GBPUSD: 1.6275
EURUSD: 1.2802.

European Market News:

Firstly, Switzerland will release around 830GMT, the Purchasing Managers Index for the SVME.

Europe’s Final Manufacturing PMI’s will be released around 900GMT

England will final the markets with their Manufacturing PMI, at 930GMT.

Have a good session trading forex! 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!!!

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!!!

European Markets October 28th - Bailouts, Rate Cuts and etc.

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The Asian markets actually did some good in overnight trading so far…

The Nikkei pulled 250 to end up at 7413 and the Hang Seng, and impressive 675 for 11691. The Straights went straight down though to the tune of 95.79 to 1,504.

The USDJPY is hanging around 92.5 yen to dollar, and the EURUSD is currently dropping to 1.2365, and momentum is downward.

Japan’s Retail sales per annum has dropped .4%. In Australia, the NAB has rated business confidence for this quarter as a -7.

In England, Sir John Gieve, the head of the Bank of England during their semi annual Financial Stability Report, urged the banking system to be totally revamped and thought over greatly in order to properly weather through market situations such as the current financial crisis.

Forex News To Look For (IN GMT)
0700 German Consumer Confidence - GfK
0900 Switzerland - UBS Consumption Indicator
1000 Sir John Gieve from the Bank of England will speak in London at a British Bankers Association event.
1100 England’s Confederation of Business Industries Realized Sales will be released.

Good luck and be awesome! TRADE ON!!!
Thomas Howell
GoForexTrade.com

European Markets October 27th 2008 - Asian Markets Fall, but Yen Rises

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The asian market is taking a tumble today, and the Japanese Currency is rising on the dollar. Matter in fact, a number that hasn’t been touched since 1995. A one week drop from 102.3 to 93 yen per dollar is quite a drastic drop, and the concern here, is the importing of goods to the US from Japan. The prices will eventually inflate because of this.

Crude, is completely going the other way. Taking a shot below $64 and spiraling even lower, Gas is once again becoming affordable, and it is becoming easier to look at SUV’s once again! lol not that I am going to get one anytime soon. I was checking gas prices and the Wawa (7-11 Type convenience store) has the cheap stuff for $2.25 a gallon. Amazing.

The Euro is headed below 1.25 against the dollar in overnight trading. All three major markets, and the indices are pointing in range between a 3.5-5 percent decline.

So, how are the markets looking for the european market?

A busy day only for the european market, but think about the world markets and the credit scenario when you think about the news. We have a great deal of issues that should be weighed when looking at forex news matters.

Europe (Times in GMT)
0900 - Germany IFO Business Climate
0900 - M3 Money Supplies year to year
0900 - Private Loans year to year
1355 - Jean Claude Trichet Speaks at the Perspectivas KPMG forum, in Madrid Spain.

TRADE ON!!!! Make some pips!!!

Tom Howell
GoForexTrade.com