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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

US Market Session: July 16th 2008 GoForexTrade.com

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Good morning! Making any serious pips on Bernanke’s Comments, or any of the other bastions of Forex News on the dollar today?

Let’s cover the european session and then we will discuss the US markets.

Today we had Consumer Price Index numbers read from Germany, France and the EU. Germany’s Final CPI was at .3%, France’s CPI was at .4%, and Europes Core Commodities CPI was 1.8% while the regular CPI was at 4%, all increases.

Switzerland had nearly doubled their expectation on their Retail sales outlook on a gain of 7.4% from this time last year! Wow! Only if the US could pull such a feat!

England also had their jobs report come out as well this morning. The Claimant Count Change, is basically unemployment claims, and they had increased 15,500 claims, over 10K on consensus. The average earning index did not disappoint at 3.8% as well as the unemployment rate did go down a bit at 5.2% compared to the previous 5.3%.

So what is happening in the US Session?
A LOT! Canada starts off the bell with Manufacturing Shipments, which came in 2.7%, up from 2.1% on last month.

The US market has a ton of news to get through, about 9 major events. The US also released their Consumer Price Index today. The core Commodities CPI increased at .3% while the regular CPI was up at 1.1%

One of the big newsies today, the Treasury International Capital Net Long Term Securities had barely reached it’s mark today. At a consensus bet of 70 billion, the index only reached 67 Billion, from a previous month’s estimate of 111.9 billion. This index accounts for those who have made securities investments that mature in excess of a year or more.

Us Industrial Production is at .5% and the Capacity Utilization Rate is 79.9%. The Capacity Utilization Rate is based on the percentage of production that is averaged out by the production capabilities of utility companies, metal mines, and manufacturers.

Then here comes the sweet! Sweet Crude Oil inventories UP! Three Million Barrels. Add that to an news equation with the US looking to drill offshore, and my friend, the oil bubble will burst!!! Sweet Crude at time of writing is now around $134. SUV owners once again rejoice!!!

reports yet to watch out for:
The National Asociation of Homebuilders will have an index around 1700 GMT, and at 1800 GMT, the FOMC Meeting Minutes will be shared.

Podium Pieces:
We are still waiting for Englands’ Monetary Policy Committee member Spencer Dale speak, but we do have some wordage from Ben Bernanke. Ben made a few words on the nature of the US’s two government backed mortgage giants Freddie Mac and Fannie Mae. Ben states that these companies are not on the brink nor any danger of failing, as they are holding their water, but they are having a difficult circumstance raising any further funds. Both firms hold and guarantee more than five Trillion dollars of notes.

Wow! Can I have some of that! just kidding!

Have a great afternoon and TRADE ON!!!

Thomas Howell
GoForexTrade.com

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US Market Session: July 15 2008 GoForexTrade.com

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Good Afternoon, and welcome to another trading day! A busy day is happenining in the world of forex, with the US taking a nice share of the news. Let’s go through the rundown on the european market and go through what has happened so far in the US Market!

EUROPE SESSION:
England:
CPI compared to last year 3.8%
Core CPI compared to last year 1.6%
Retail Price Index compared to last year 4.6%

EuroZone:
German ZEW: -63.9
Euro ZEW: -63.7

US SESSION:
Canada:
New Car Sales are up 1.1% over last month
The Bank of Canada has decided to keep their rates at 3%

United States of America:
Core Retail sales have slumped below expectation, but boosted .8% while the regular Retail Sales number have only went up .1% PPI compared to last month has increased 1.8% and the Core PPI only have increased .2% instead of reaching consensus of .3%

The Empire State (New York) Manufacturing Index has only declined 4.9, but not as bad as expected.
Investor’s Business Daily had their T.I.P.P. numbers come out and they did rather well at 37.4. Business Inventories increased .3% also!

Today both Federal Moneyheads Ben Bernanke and Henry Paulson had their piece today. Ben Bernanke sounds like the American Citizens have a ton to worry about. Why? Ben had mentioned that all around (housing, jobs, dollar, inflation, etc), the economy is still having a problem despite the Bank rate cuts that were recently issued.

The euro took a good stab as this news occurred. The Eurozone is now at a high of $1.60. How far will the dollar drop until a resolve occurs?

Henry Paulson, had of course a few words to say on the mortgage situation with Freddie Mac and Fannie Mae and the treasury’s position on not throwing out any emergency loans or purchasing any of their stocks.

That is the US Market Session Report. Be back later on for the asian market session
TRADE ON!!!

Thomas Howell
GoForexTrade.com

Asian Market Session: July 11th 2008 GoForexTrade.com

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Good afternoon and welcome to the Asian Market Session. Are you making any pips on the incline of the Euro and the Crude Oil jump?

The dollar has downed a bit along with oil increasing. Primarily due to the issue with Iran playing with missiles and of course a possible fear that also the same middle eastern country could cut off supplies and really screw with our economy. Fun isn’t it?

The eurodollar was at 1.5772 at time of writing.
Crude Oil was around $141.35 a barrel at time of writing.

So, how was the US market session?
Well, besides Bernanke wanting the Government to get involved with big wall street firm collapses, Unemployment claims have decreased nicely from 404K to 346K. This is well under the 397K consensus, which means we could be having SOME possible economic Growth.

And from England, the Bank Rate has stayed at 5%. The primary concern of the Monetary Policy Committee, is that the weighing of Inflation versus economic stability is a major factor in keeping the rate unchanged. Raising the rate would stave off inflation, but also could really mess up any mortgage or loan arrangements, that work on a variable or an adjustable mortgage or loan rate. Then you will have another mortgage crisis on top of one we are already having.

Case study is the current scenario in the US. With a massive drop in the Dow and a huge issue with Mortgage Foreclosures, the Fed had to make a move with cutting the interest rate drastically. Although we are saving homeowners from getting foreclosed, meanwhile prices for consumer goods and etc are rising! That is what we call inflation.

Natural Gas Storage, increase 5 Billion Cubes from 85 Billion Cubes to 90 Billion Cubes, but has not made the consensus’ bet of 95 Billion Cubes.

Trichet had a few words today on inflation and the current monetary policy. Though he did not signify a possible rate increase on top of the 25 point increase that was recently added to interest rates, Trichet mentioned a high concern for inflation.

With the Asian Market, We have two later news annoucements:
Japan will have monthly Industrial Production numbers around 1630 GMT, and a half hour later, Household Confidence.

Have a great trading day! TRADE ON!!!

Thomas Howell
Editor
www.GoForexTrade.com
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US Market Session: July 10th 2008 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

US Market: 7/8/08 GoForexTrade.com

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Hi!

How is the trading going? Despite a tough euro, the dollar just keeps fighting it’s way back! After last Thursday’s 3 cent drop of the euro, we have seen a zig zag of the currency pair since.

Let’s see how well the dollar can hold up to some negative numbers in the housing sector. Just coming in, the Pending home sales have fell off -4.7% from last month’s gain of 6.3%. The housing market is not looking like it is going to be in recovery mode for a good while.

At least there was some good news. Wholesale inventories went up .8% beating the consensus’s .7%, but down from last months 1.3%. And the crude price had sank nearly $6 in the last two days. Is the euro and oil headed for a strong correction?

Federal Reserve Chief Ben Bernanke this morning made a statement on having the central banks extend funding to struggling investment banks, ones that got hit hard during the sub-prime mortgage crisis.

This afternoon we will get the numbers for Consumer Credit, and England will have a Late night tea session with the Consumer Confidence Index later on.

TRADE ON!

Tom Howell
GoForexTrade.com

US Midday 6/16/2008 GoForexTrade.com

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Good afternoon! How has trading been for you so far?

Let me throw down a quick lunchtime report for ya!

Canada’s New Motor Vehicle Sales have declined 2.6% from previous months which is a trend of decline for it’s third month. The principal cause is theorized at lower sales in the western provinces of Canada.

USA NEWS:
The Empire State Business Conditions Index has came in more negative then expectation. At -8.7, The index has been in a negative trend for a fifth straight month.

TIC Net Long Term Transactions have taken a nice boost well over the $63 Billion expectation to $115.1 Billion.

We are still waiting for the National Association of Homebuilders numbers which are due in about 30 minutes.

So, what did Uncle Ben say about Health Care?
Oh yeah! Fed King Ben Bernanke had a podium piece in congress today sqwaking about the price of health care and how it is going to rise exponentially over the short term. While on the lectern, Uncle Ben did not make a mention of Monetary Policy or our worsening Economy.

See ya this afternoon!

US Market 6/16/08 GoForexTrade.com

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Good morning my fellow American Traders! And to those trading in the europe session, how are ya doing? Getting some hardcore pips over there?

So, for those fellow European traders… How did your trading day do so far?

Well, over in the land of Helvetica, (Switzerland for the geographically challenged), Current/Previous year sales fell a staggered 9.4%. Is anybody buying Watches and swiss army knives still? Cmon! Buy some up and help Switzerland with their retail! lolZ (check out them swiss army usb drives, they are cool!)

We also had Core and Regular Consumer Price Index reading from the Eurozone. Core CPI rose 1.7%, and CPI rose 3.7%. Nice!

So what is going on stateside today for the Americans?
Well, over to Canada first, the US’s “hat”, we will be shortly getting numbers for New Motor Vehicle Sales. This is a monthly indice.

Back to the US, we have a few news items…
First, we have the Empire State Business Conditions Index. This measures the general business conditions of manufacturers in New York State, the empire state! Why does this have a great deal of heavy bearing. Well, New York City is in the state of New York (duh!) and New York City handles a great share of US and international business (double duh!)

Then we will get a number on Net Long Term Transactions. Think about holding a stock, bond, or other security over a year, that sums it up there!

Also, we are getting a podium piece from Fed King Ben Bernanke as well. This time, the venue will be in congress, and the theme will be centered around health care issues.

Then after lunch, look for the National Association of Home Builders releasing their Housing Market Index. This one will promise to be a nail biter folks!!!

See you at lunchtime!

TRADE ON!
Thomas Howelll
editor
GoForexTrade.com

US Market Open 6/12/08 GoForexTrade.com

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Good morning American Forex Traders. How is everything so far? Enjoying the nice rally off of the Euro?

Before we get into today’s news events, let’s quickly recap the european sessions so far…

In Europe, French Final Employment Change Quarterlies came out positively at .4%. The European Central Bank has stated that with the current status of the central bank, they are ready to move on countering the ever increasing threat of Inflation. Industrial Production is up .9% for the month.

From One Bank To The Next:
Bank of England stating their inflation attitude index at 4.3%, over the previous percentage of 3.3%.

EU Lisbon Vote:
We are still waiting for the results of the Lisbon Treaty Vote for Ireland.

For some US Session News….

around 830 -4 GMT, We will have a round of news from the United States.
In this round of news, we will expect numbers from heavy hitters such as Retail Sales, Core Retail Sales, Import Price Index monthlies, and Unemployment Claims.

A bit later in the day, We will also have numbers from Monthly Business Inventories, and Natural Gas Storage Numbers. also expect Uncle Ben to put out a few words. In his usual speech streak, he usually helps the dollar against the euro.

Well, that is my US morning report, I should be back around noon to report the midday. TRADE ON!

Mid Afternoon Update: June 9-10 GoForexTrade.com

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Today, I have decided to combine the midday and the afternoon for the US market.

So… What did we miss?
Newswise, the United States had Pending Home Sales go up 6.3%, well over expectation of .5%.

So what did Trichet, and Geithner say (condensed version)?
Trichet: Do not look for a huge rate increase;
Geithner: Stated that the Bear Stearns merger was the best viable plan for the troubled company.

So You waited for Apple too I guess!
Yep, Coming from the WWDC for Apple, we are looking at a July 11 release date for the new iPhone 3G. This iPhone will not only have a faster data capability, but also a longer life battery, GPS capabilities, independent application support, AND! (drumroll please!) the price will be cut down to $199 for the 8gig model and $299 for the 16gig model.

So, what is on the for the news tonight?
Tonight, we have a couple of news items from England. The RICS House price balance, which monitors the average sale prices of housing in England, and BRC Retail Sales numbers as well.

In Japan, Core Machinery Order Monthlies are due out. At the end of their session, expect also a number on Machine Tool Orders. This is an annual index.

Uncle Ben Bernanke will have a couple of fine words to say on his podium piece tonight! Will it be anything to help the dollar in it’s recent nosedive?

Australia will see numbers from NAB’s Business Confidence Index and a report on Monthly Home Loan numbers.

Ok folks, wish you the best of luck with trading and make some money!!!
TRADE ON!

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