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US Market Session: July 14th, 2008 GoForexTrade.com

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Good morning fellow American traders! Ready for another week of Oil, Hot Dollar on Euro Action, and Banks Having more issues than the town drunk? Sounds like an episode of Jerry Springer, doesn’t it? It is actually the nature of the US Markets!

Time to make some money today!!! Here is the results from earlier today…
In England, we had Inner and Outer Producer Price Index… Both didn’t make the consensus’ expectation, but reached at 2.1% for the former and .9% for the latter.

In Europe the Industrial Production levels decreased 1.9% but this indice was expected to do worse at -2.3%.

For the US Market Today, The Federal Reserve Governors are making some votes on rules and regulation on customer protections in wake of the subprime mortgage situation in the US.

Sweet Crude Oil was priced at the time of writing at $143.22, falling a few dollars from the $147 peak that was reached before the end of trading last friday.

Have a great day and TRADE ON! Tonight’s Asian Market Session will be a bit busy with news, as we have about 8 events to talk about!

Thomas Howell
GoForexTrade.com
P.S. Take a minute to check out Brain TonIQ, the official drink of GoForexTrade.com. If you want a great energy beverage that has no caffeine, but can stimulate your mind without cane sugars or fats, or B.S. Click Here to take advantages of the case specials we currently have with Brain TonIQ

Weekend Cap: GoForexTrade.com

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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

P.S. Take a quick minute and check out some awesome specials from Brain TonIQ, our official drink here at GoForexTrade.com. Click here to see what Brain TonIQ is all about! No Caffeine, No Fat, No B.S!!!

Asian Market Open: 6/24/08 GoForexTrade.com

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Amazing!

Tonight in the asian Forex Market, there are no major news reports to talk about! This market open will not go untyped though! Let’s talk about today’s market first and then a major announcement!

The Euro’s Brutal Beating - With just about all the PMI’s except Germany’s Service PMI shit-tanking, and both of Germany’s Ifo numbers looking as bad. Don’t fear, the 150 pip dive has somewhat recovered. you could thank the US market’s sensitivity to Oil for that one!

Oil - Despite Saudi Arabia’s growing defiance against OPEC’s position in not increasing oil production levels, the sweet, SUV sucking commodity took an upswing to the tune of $137 a barrel!

Ok, enough of the depress reality that we swallow and make pips with! Let’s talk about a major announcement.

Last week, we have made an undertaking with having Forex Meta, as our preferred Forex Broker. They still have a great special for their Forex Accounts! Not only do you have a $500 minimum, and tight spreads, but also you will get a $100 bonus for trading with them! Click here to sign up with a free demo! We believe this opportunity will be great for goforextrade.com visitors as well as those who love to trade with a great brokerage which uses Metatrader 4!

One more Thing…..

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Let’s Resume! Euro Open 6/12/08 GoForexTrade.com

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For those who have been keeping up with GoForexTrade.com, I thank you for coming back and visiting my site. Unfortunately I had to be away from the computer for most of the day yesterday, and now I am coming back and starting up once again with the Europe Session.

I have checked out my stats on feedburner as of yesterday and noticed that more and more visitors are subscribing to the RSS feed! I thank each and every one of you for subscribing to the feed and if you haven’t, it’s available for you!!!

So, let’s start with the european market news..

We have several numbers to watch out for today. First at 645GMT, we have the French Final Employment Change Quaterlies coming out. The magic number for this index is .3%

Also in European News, the Monthly Industrial Production monthlies will be out, and we are waiting on the results of Ireland’s vote from the Lisbon Treaty, the European Union’s treaty, which would streamline the EU’s functionality, and screw those who believe in national sovreignty (sidenote: Ok, fine, I am a Ron Paul fan and I am not into the Lisbon Treaty Either!)

Away from the political rant, let’s cover the other things in Forex eh?

In Great Britain, The Bank of England is going to put out some words on Inflation Attitudes. Then a bit later on, Swiss National Bank Board Member Thomas Jordan will have a few words of his choosing as well!

Folks, Have an awesome day trading the european session, be back in several hours, and again, thank you for coming to GoForexTrade.com TRADE ON!

Tom Howell
Editor,
GoForexTrade.com