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!!!
Well well well, if we couldn’t have just another fine freaking day on the street! Another day of widespread panic on the world markets, as the Retail and economic outlooks in the US market are about as bad as week old dead salmon laying on a grass marsh.
I seriously do not have any trust in the market now. Bad as week old salmon on a marsh and has more mood swings than your wife going through menopause, the uncertainty keeps on rolling. Where is the bottom? Are we yet to see a bottom to this pathetic market situation?
In the forex game (EURUSD), we are being affected from what it seems to be normal swings. a few cents and here, perfect for scalp traders who are wanting to scoop 10-20 pip trades with ease.
The dollar though as a whole is gaining ground in the world markets, only though because not only because other host currencies are having a tough time with the economy, and always concerns about inflation as well!
Remember, when you have to lower rates, inflation will eventually creep up! and if you have to raise them, you will have an increase on foreclosures god forbid if you have an adjustable rate mortgage.
Today, starting with europe, Switzerland is starting the coffee roll with Retail Sales per annum. Reported dead zero, under the .9% up forecast.
Italian Trade Balance loss at 2.12 Billion. MORE FERRARIS!!!! heh while the dollar is gaining on the ground!!! Maybe they can have a fire sale and sell me a F430 for the price of a new Mercedes 550SL!!! That will increase the trade balance FOR SURE!!!!
Switzlerand will also push some ZEW numbers in an hour from now.
Canada is rolling out Manufacturing Sales per month.
The United States is just having one hell of a time with news. lol! The state of the news is SUCKS, with a side of Horrible!
The big hitters are going to be unemployment claims, Consumer Price Index, and TIC Long Term Purchasing. Also some major contributors to the fun today will be Industrial Production, Capacity Utilization Rate, And Chuck Plosser and the Cheesesteak Gang will release the Philly Fed Index.
But don’t go away, we also have Crude Oil and Natural Gas Storage as well! And Housing Index numbers along with Fed Member Gary Stern, will probably talk shit about the market and call out some banks for screwing things up.
And to cap things off in Asia, Japan will release tertiaries in industries, and Australia will release Import Price Quarterlies. Fun.
TRADE ON! AND keep the hope alive!!!
Tom Howell
GoForexTrade.com
One more trading day for the european market before The Assumption, and we are not going to assume anything in the world markets, as we can only tell you what is happening!
Crude Oil remains at $116.43, after a report on lessened supplies in the US have increased the commodity three dollars.
How did the asian forex market pan out?
Japan has dropped a bit on the tertiary industry activity index around -0.8%. In New Zealand, The Business Manufacturing Index is at 48.8.
Here is the news to look forward to for the European Market: All times in GMT.
0645 Switzerland’s Consumer Climate, already reported at -17. Not good!
0700 Germany will release a preliminary GDP and a Final Consumer Price Index.
0745 France will have Non Farm Payroll releases and their Preliminary GDP.
0900 Look for the Central European Bank to release a Bulletin. Check for Monetary Policy clues, and then big accordingly.
1000 Europe will then release a core commodity and a regular Consumer price index. Also in tandem, we will get then number for Flash Gross Domestic Product.
And here is today’s european forex market session news: All times in GMT.
0745: Frances Consumer Price Index Monthlies. look for -.2%.
0930: We have a trio of reports coming from England. wow, seems like england loves to pair up their news events in twos or threes as of lately! heh
We start with the Core Commodities Consumer Price Index, then the regular Consumer Price Index, and then we finalize the market session with the Department for Communities and Local Government’s House Price Index.
Have a great trading session and see you in the US and Canada Market session!
Good morning and welcome to Thursday’s trading session. Let’s start with the news.
Japan has improved the negative outlook a couple of shades in housing starts this morning.
The european market so far has seen Switzerland’s Consumer Price Index monthlies beat the consensus, but remains in negative territory at -0.4%
England has also negative numbers for their Nationwide House Price Index, which was released at -1.7%.
Europe has quite a few things going on today for them. We are still waiting for Germany’s Unemployment change numbers, Europe’s Unemployment Rate, Consumer Price Index flash estimates, and Italy’s Preliminary Consumer Price Index.
In the US market, we have a ton of news items to cover, first we have a pair of heavy hitters in Canada and the United States, releasing their Gross Domestic Product. Then the USA takes the rest of the cake with Advance GDP price index, Employment Cost Index, Unemployment Claims, Chicago’s Business Barometer, and Natural Gas Storage.
Also look for some words from Us Treasury Secretary Henry Paulson. I wonder what he will say!
Capping the Asian Market, we have pair from Australia, first being the Manufacturing end of the Purchasing Managers Indices, and We will get inflation numbers from TDMI.
SITE NEWS!!!
For the last couple of weeks, instead of posting 3-4 posts a day, I have only done one post a day. Honestly I do not like doing a one post a day, and I think it is really killing the integrity of the site.
As of next week, we will return to doing market reports for European Markets, American Markets, and Asian Markets. We will be doing three posts a day, One before Europe’s Market Open, Another Before The US’s open, and last but definitely not least, Asia’s report before Sydney’s open!!!
Good morning and welcome to another trading day! Are you making some serious pips out there? If you are great! If you are not at the time, just keep persistant and keep on educating yourself, you will get there in due time!!!
over the last couple of days I have received a few comments from loyal site visitors who expressed their experiences here at GoForexTrade.com. I do greatly thank you for the input and keep the comments coming! And again, thank you for visiting my site!!!
How about we get to some news on the Forex front, shall we?
Today will be a busy day and and we are looking at some heavy hitters. First, France will have numbers on Consumer Spending. This is compared on a month to month basis.
Italy will have the numbers for retail sales. This is also a monthly index which shows the fluctuation in retail purchasing.
England will have a few news reports coming out this morning around a couple hours from now. One of the heavy hitters we will mention is the Meeting Minutes from the Monetary Policy Committee. The minutes have a huge importance because it could mean a change in interest rate, banking regulations or another major issue in banking. At the same time, the British Bank Association will have their number for Mortgage Approvals.
Europe will then release their Industrial New Orders then England will cap out the European Market News with the Confederation of British Industrie’s Industrial Trends Orders.
In the US Market, we have a couple of heavy hitters to talk about. Canada first off, will release Their Core Commodity Consumer Price Index, then their regular Consumer Price Index.
The USA will then post Crude Oil Inventories. This will slightly affect the dollar compared to crude oil prices. Expect this one to be a bit high on inventories, which might drop the price of crude even lower! Maybe we can drive the SUV once again eh?
Then the US has this so called “Beige Book.” What is the deal with this? Well, the Beige Book is a compilation of data of the economic status and situations of the 12 Fed Districts in the US. This is usually done about a couple of weeks before Bernanke and the Boys get together over a few drinks, a couple of testimonies to congress and such, and determine if there is a need a for a change in bank rate.
For the Asian Market, We have a big bad heavy hitter in New Zealand with the Cash Rates being unveiled in Auckland around market open. Expectation is to keep the rate at it’s current level of 8.25%. Expect a statement shortly thereafter by the Monetary Policy Committees.
And in Japan, look for their Trade Balance to be released!
Again, to my fellow traders in the Forex Market, and also site visitors who are just visiting to see us..
THANK YOU FOR YOUR PATRONAGE!!!!
Let’s talk about today’s trading news, shall we?
First, we will see Switzerland’s Trade Balance. The magic number is 1.62 Billion. To Conclude the European major news, we will see words from Bank of England’s Mervyn King along with Sir John Gieve, which he will be speaking to the Parliament’s Treasury Committee in London about banking reform.
In the US Market, we will see Treasury Secretary Henry Paulson at the New York Public Library speaking about reforms in the banking industry.
Also, we will hear words from Fed Member Plosser, speaking not about the cheesesteak index of course (Philadelphia Fed Governor Plosser we are speaking about here), but rather we will hear words at a Philadelphia Business Journal Luncheon. Philadelphia Business Journal, is a prominent local Philly newspaper that deals with all things business.
We will also get numbers later for the House Price Index Monthlies and Richmond Manufacturing Index.
Canada will release their Core and Regular Retail Sales this morning.
Later on when the Asian session opens up, Australia will release their Consumer Price Index, ad Trimmed Mean Consumer Price Index. The “Trimmed Mean” means that this CPI will exclude some of the most volatile items and commodities.
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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Good morning and welcome to another great trading session in the European Market. Today is a guarantee for some hardcore business on the money side of things.
In the asian trading session, Japan released their tertiary industry activity index monthlies, and reported a decline of -.2%.
Australia had a pair of reports that came out, First being Westpac Melbourne’s Leading Index, which released a flat 0.0%. Then Glenn Stevens from the Australian Reserve Bank had commented on the possibility of keeping inflation at a low, despite slower growth and a high interest rate.
For the European Market, a busy one indeed, not as busy as the US Market, but it will have some heavy hitters today!
Europe’s Events:
600 GMT:
Germany will release it’s Final Consumer Price Index Monthlies, and 45 minutes later we will see France release their Consumer Price Index Monthlies.
1715 GMT:
Switzerland will put previous years comparisons in Retail Sales up to public…
1830 GMT:
England will have a trio of events going on, starting with a Claimant count Change, with a magic number of 10K. Also look for an Average Earnings Index and Unemployment Rate. Think of this as the “Jobs Report” For England.
Then at 1900 GMT, we will see europe with two more major news reports: The Annual Consumer Price Index and the Core Commodities Annual Consumer Price Index…
Have a great trading session! The US Market will be responsible for 11 news events, including a few very heavy hitting issues! see you then!!!
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!!!
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Filed under: North American Market by Thomas Howell