Crude Oil is having a good day, falling at times below $118 per barrel. The United States did the Crude Oil Counts earlier, and we reported a higher jump in inventory over forecast!
And in O Canada! we have the Richard Ivey Purchasing Managers Index. and the index is an across the board index for purchasing managers in all industries in Canada. This number, blew the roof off of expectation and landed at 65.5. WAY TO GO!!!
So what is on tap for the Asian Forex Market Session?
OCEANIA’S JOBS REPORT!!!!
To start things off, we are looking first off to New Zealand. Their jobs report is due in about three and a half hours from now at 2345 GMT. the employment change is forecasted at .1%, and Unemployment Rate is predicted at 3.8%. Now remember, New Zealand is a country where a huge amount of it’s GDP comes from the Tourism industry.
For the rest of the market session: Japan will release Core Machinery Orders at 0050 GMT, and Australia will have a trio of reports being released!
Two of those reports are Australia’s Jobs report. Unemployment Rate and Employment Change will be released at 0230 GMT.
and at 0030 GMT, Australia will have a Purchasing Managers Index for The Construction Sector.
Good evening to our US traders and good morning for the Asian forex traders!!!!
What a KICKASS day that we had on wall street!
ISM came in at a nice, but slim margin over forecast, and the Interest rate stayed the same at 2%! The Dow Industrial 30 sees a gain of 335 points, and to top the good news, Crude Oil took a lowering to the tune of around 118.56! The oil bubble has been broken, and hopefully gas prices will fall harder faster sooner! Hummer H2 fans REJOICE!!!
With feeling hyper over such a great day, let’s head into the Asian Forex Market Session!
All times in GMT!
0030: Australia will release their Purchasing Managers Index for the Construction Sector.
0050: Japan will release Core Machinery Order Monthlies:
Australia will have their jobs report today, being usually a heavier hitter in trading news…
0230: Employment Changes (consensus: 4,000 jobs) and Unemployment Rate (consensus: 4.3%)
Have an awesome session trading!!! See you later on for the European report!
most importantly, have fun and as always….
TRADE ON!
Good morning my fellow European Traders! Ready for an awesome day making some serious pippage?
Let’s get right to the news!
Oil: The sweet stuff has taken a major drop in price over the last couple to $136.38 on the Electronic New York Mercantile Exchange. SUV Owners REJOICE!!!
England’s Consumer Confidence fell short of expectation at 63, and below the previous number of 69. The consensus was betting at 65.
Over in Japan, we got a positive word on Core Machinery Orders. 10.4% INCREASE, nearly doubling the production increase from last month, and the expectation was a tiny 1.1%. NICE!
In Australia, the Westpac Melbourne Institute unleashed their Consumer Sentiment number at -6.7%, which is unfortunately, worse than last month’s number at -5.6%. Keep your chin up folks and your dreams high!
Also we got some bad news from down under on Home Loans. Home loans had declined -7.9% from last month’s -4.2%. They were only expectating -2%, but with how the subprime credit crisis, and now that credit requirements are ever increasing, proves that now you cannot get a dollar loaned to you anymore if your credit is even ok. That wasn’t a shock to me at all!
So, What is going on with the european market? Plenty! Hopefully not as depressing as most of the Asian market was….
right at 600 GMT, we have another statement from Japan regarding Machine Tool Orders. Yes, even Wrenches and Screwdrivers have their own Indicator.
At the same time we will see Germany release their numbers on Trade Balance. Of course the consensus is taking the high road to expect a magic number of 17.4 Billion. Now only if the US could learn a thing or two from this. (But then again, doesn’t this country export awesome Beer, and then Beemers, Benzs, and Volkswagens too! DAMN! That is why their Trade Balance rocks!!!) NEXT TOPIC!!
45 minutes later we will see the French with their Trade Balance as well. Unfortunately this fine country of Wines, Cheeses, Fine Cooking, Stereolab, and Fine Marques such as Renault, Nissan, Peugeot and Citroen is looking at an sour expectation of -3.9 Billion.
And of course Jean Claude Trichet, the European Central Bank President has to step in and get a few words out as well. This time, Jean will be at a plenary Session of the EU Parliament in Strasbourg. Jean will present the Annual Report for 2007 there. Maybe some historical data and maybe some monetary policy to get our Forex News Junkies a bit to chew on please?
Then to finish out the major news events, England will have a trio of numbers coming out. at 1830 GMT we start with the Halifax Housing Price Index. We are looking at a decline of 1% for the magic number. Trade Balance, which compared to France’s Expectation, this one is looking to have a awfully grum day at -7.4 Billion. Then to finish out the England block, BRC’s Shop Price Index, which compares to previous year prices at any one of your local British Retail Consortium stores!
That is the european report. See you in the morning, and TRADE ON!!!!
The number from Consumer Credit in the USA was pretty positive, to the degree of 7.8 Billion, keeping the same number from last month, but shooting WELL over consensus numbers (7.5 Billion)
Are you ready for another jam packed, fun Asian Trading Session?
2101 GMT
We will start tonight with a late tea session in England with their Consumer Confidence numbers.
2150 GMT
a while after that, we will see Japan with their Monthly Core Machinery Orders look for 1.1%.
Australia will see a couple of news events going on too! First we will see at 2230 GMT Westpac Melbourne Institute release their Consumer Sentiment Statement, then another hour at 2330 GMT we will see a number on Australian Home Loans compared to previous month!!!!!
Then you will have to wait to the euro session to get the scoop for the European Market!!! See you then!!!
RSS
Follow GoForexTrade.com On Twitter!
Filed under: Asian Open/North American Close News by Thomas Howell