Hello! How is everybody’s weekend going? Having some serious fun? Going to a BBQ or having a night out on the town, looking back at the awesome week you had making money on the forex market.

There is a few major news issues that came up through the week.

1. Oil: This week, we have seen Crude Oil take a reprise of climbing after last week’s $10+ drop on the New York Mercantile Exchange. Oil has now seen a new record at $147.00 due to supply issues in the US reserves, and the Constant threat of War in Iran, and fact being they are a big oil producer in the Middle East, it makes for quite an uncomfortable situation at home.

Meanwhile, Russia is building rigs to start exploring Oil reserves in the Arctic Ocean. The Arctic Ocean region is believed to hold over 100 Billion Barrels of Crude Oil. Could we start another Cold War over OIL?

2. Big Banks Gone Wild, Part 2: Recently, the US Government had recently shut down IndyMAC bank after investors had pulled out, leaving the second largest funding source cleaned out. IndyMac primarily funded subprime mortgages and No Doc Mortgages, which did not require income documentation in order to write mortgage paper. This comes into light after the Government also took over the two main secondary market funding sources, Fannie Mae and Freddie Mac.

3. Europe’s Inflation Worries: Late last week, ECB President Jean Claude Trichet had stated his fears over the looming inflation issue. A larger consensus which was recently polled over the issue, also reiterated the Central Bank’s President, and having no confidence in inflation stabilizing and that inflation was overly inevitable. In response to the Inflation issue, the European Central Bank took a precautionary measure and elevated the Bank Rate from 4% to 4.25. I wouldn’t be surprised if the rate goes higher. Think about this when it comes to bank rates.

Tom’s Hypothetical Question of the week:
If you were a head of a country or federal banking institution who is controlling the monetary policy, you would have to make a choice between two scary fates: Would you have to screw over millions of homeowners who bought heart hard and not mind heavy and went into Adjustable Rate Mortgages and have them risk foreclosure?

Or otherwise everything would rise in cost faster than your head can spin, inflation goes at an insane pace, and you would have to answer for millions of families, regardless of income bracket are in financial trouble, and are struggling to feed their kids. Imagine having a family that drives BMW’s and Mercedes-Benz’s STRUGGLING to feed their kids. And it gets even worse down the income ladder.

Shoot a comment and let me know what you think about that one! A very real and scary reality for sure.

I will conclude the weekend cap, with a Thank you for visiting my Forex Site. If you have any questions or comments, Please put them on site! I would be more than happy to answer them!!!

REST ON!!! Get ready for Sunday night! Another trading week waits!!!
Thomas Howell
Editor
GoForexTrade.com

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Good morning traders! How is your day so far?

Today in the US market Session, we are going to see a few heavy hitters in the news pipe today. First, we will recap the news from the European Market Session.

French Industrial Production had slid 2.6%, sliding past the consensus data of -.5%.

We also got word from the European Central Bank’s Bulletin, quoting that the recent rate hike from 4% to 4.25% will help stabilize prices in the medium-term. They will now expect Inflation to stay under control for quite some time, and despite E-13 growth being a bit slowed for the second quarter, the trend for the long term, will see some modest growth.

We also got a number for Italy’s Industrial Production. We got a decline of 1.4% over last month’s slight increase of .4%.

We finally received numbers from Halifax on their Home Price Index. Home prices have decreased 2% from last month. I would think OUCH because a mere 2% can cut into how much you can get from your home. perhaps you had a $300,000 home, and all of a sudden, you had to come down 2% to try to keep your house in the competition for homes being sold in your neighborhood. I know your realtor and you wouldn’t be happy in taking the price cut, But that is just not happening in just the US or UK, but across the board!

Leaving my rant on housing prices, We are still waiting for a Bank Rate statement from England’s Monetary Policy Committee. We will also get a late night Euro Podium Piece of Jean Claude Trichet, the President of the ECB as well.

For the US Market, WE will have a few things on the agenda! First we will have unemployment claims, the Ben Bernanke will testify along bedfellow and Treasury Head Henry Paulson at the House Of Representatives Committee on Financial Services. Let’s hear what Uncle Ben has to say!!!

Then we will get a number on Natural Gas Storage.

Have a great day! and TRADE ON!!!!

Thomas Howell
GoForexTrade.com

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Good morning and welcome to another trading day! Are you ready to win???

Let’s first report the results of the asian market news, shall we?

First, we had New Zealand with the Business NZ Manufacturing Index. The numbers came up a bit short at 45.7 compared to the previous time around at 47.9.

Japan had a pair of number releases as well. Their CGPI had done a nice job at 5.6% compared to consensus’ bet of 5.2%, the result this time last year was 4.8%.

Also up was the Current Account. The Current Account did nicely, well over expectation at 2.03 Trillion! NICE WORK!

In Australia, we had their jobs report. The employment change actually did quite well, boosting to 29.8K more jobs then previously and the unemployment rate managed to notch down to 4.2% as well. GOOD STUFF!!! Let’s see the US pull that one off! lol.

For today’s european market session, here is the news:

645 GMT
France will release their monthly industrial production numbers.

800 GMT
A Trifecta of numbers going public here. First we will have a bulletin from the European Central Bank, Then Italy’s Industrial Production Numbers will come forward.

Finally, if they show up, we will have England’s Halifax House Price Index, which is released Monthly.

Two more things from England to wrap the major news out of the session: The Official Bank Rate will be released and a statement from the Monetary Policy Committee.

1745 GMT, Do not forget we have ECB President Jean Claude Trichet speaking as well. His podium piece will be at the Euro’s 10th anniversary Celebration.

Folks, see you later on for the US Market Session news.

TRADE ON!!!

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Good morning! go Grab yourself a full breakfast! There isn’t major trading News events on the European side for a good while! Go relax and take a small break, YOU DESERVE IT FOR YOUR HARD WORK!

For right now, let’s cover the Asian Market Session:
For Oceania, New Zealand’s Central Bank has decided to keep interest rates still for right now, and Australia’s trade deficit was well under expectation, and positive, but didn’t move the Aussie Dollar much.

EURO NEWS

When you come back with a full belly and a pot or two of coffee or tea properly drained, We have Monthly Germany Factory Orders around 1000GMT. the magic number to look for is .4%. Also look for the Minimum Bid Rates from the ECB to come out as well. Then shortly after, the European Central Bank will hold a press conference.

ENGLAND NEWS:
And we are still waiting for Halifax Bank to state the house price monthlies, but a bit later on, around 1100GMT We will get a statement on Bank Rates. And to coincide with the Bank Rates, we have the Monetary Policy Committee talk about the status of the economy, and projects an economic forecast.

CURRENT RATES:
EURUSD 1.5446
USDJPY 105.61
EURGBP .7907
AUDUSD .9560
GBPUSD 1.9531
CRUDE OIL 122.05

Have an awesome trading Day! And I will be back in several hours for the US report

TRADE ON!

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