unfortunately, I couldn’t find a better title for this for right now.

The dollar got itself PWNED today!

After having a nice rally after uncle Ben Bernanke talked about inflation and dollar issue, bringing the EURUSD to 1.5355, The dollar received the ultimate ass kicking today, if there wasn’t a better word to describe.

After a sour jobs report, with 47K job losses and an unemployment rate that had soared the highest in nearly 22 years, you would think that would beat the dollar senseless. This only gets better(worse).

Then, some analyst from Morgan Stanley had to open his mouth about Oil prices hitting $150 by Independence day. Well thanks to him, we now see the highest push in crude prices ever, up $10 to $139. I think we will see $150 oil at least a couple weeks ahead of that now thanks to that analyst. Now, the EURUSD peaks at 1.5755 then retreats a bit before everybody heads out for the weekend!

Now you have a perfect excuse to drop that Hummer or Chevy Suburban and replace it with a Prius or a Honda Insight.

I have another review coming this weekend sometime, I will keep you on your toes with that. Otherwise, have an awesome weekend!!!

Tom Howell
www.GoForexTrade.com

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Good evening to the US market, and Good morning to everybody on the other side of the big pond.

So how did the North American Market fare today?
In Canada, Building permits were up 14.5%! They got a great deal of building out there and talk about Ivey. The Ivey PMI indices have a nice positive number at 62.5 over the 58.8 expectation.

So, The United States had a nice day, despite getting a few upped by the EURO. Less folks were filing unemployment claims over last month, which means with less people on the dole(sp?), the job outlook looks a bit stronger in an optimistic anticipation of Tomorrow’s job report. Natural Gas supplies are up as well, to 105Billion Cubic feet, over the previous levels of 87Billion Cubic Feet.

Also in Us news, The Retail Sector become stronger. The Dow has also punched up 200 to end at 12.604. But I tell you, the ECB really out did the dollar after Trichet expressed his opinion on raising rates to try to curtail looming inflation. Sweet Crude, also went for the joy ride as well, increasing 4 dollars on the NY Mercantile Exchange.

Oh! I almost forgot! Our cheesesteak loving, Philadelphia pretzel eating Fed Guy Charles Plosser has stated a few words about lending and risk taking.

Ok, so we got the US/Canada News out, so let’s concentrate on the Asian session, shall we?

On Tonight’s Schedule, we have Construction Purchasing Manager Index Numbers coming in less than two hours from now.

That is all for news. Talk to you later around the Euro open!

TRADE ON!
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Good evening Americans, Good morning my fellow traders in Asia. And for the europeans,, you are probably fast asleep with alarms set for the Euro/British market!

Well, To follow the US wrap cap today is like following the “Good News ” section of the newspaper, that is, if there was a good news section.

Services, Private Sector and Productivity was a beaming ray of happiness along with an under supply of Oil demand, making for a decent trade day. While the Dollar holds strong on the EURO’s attempt to advance, it surely is kicking the value out of the Pound.

Ok, so what did Bernanke Say?
Good Ol’ USA Fed King Ben Bernanke stated (at a freaking Harvard Commencement Speech of all places,) that we will never see inflation as bad as we experienced in the 70’s. Well, first of all, I have never experienced that, since I was born in 1980. Honestly, For those who have experience price gouging at all levels, and have lived through the 70’s, he feels for you! lol!

OIL:
Oil has slimmed down a tad more from my last report a few hours ago. It is now valued at $122.12.

So, How is the Asian Market Looking TONIGHT!
Tonight folks, we have a few news events on the on deck here, but New Zealand is not waiting or anybody. Right out of the Asian trading gate, New Zealand’s Reserve Bank, the RBZ will put out their Monetary Policy. Kinda like what Ben Bernanke does for the US, but for New Zealand! Then, not in the same breath, but the same meeting I am absolutely sure they will spew a number for interest rates as well.

Australia: What’s on the plate mate?
Well, Down under is serving up the Trade Balance Numbers. This is a comparison of goods coming into the country versus goods coming out of the country. Look for a deficit of 1.7 Billion.

Other than that, it will be a quiet night, unless someone decides to pull some stupid crap. Who knows what multi-billion dollar bankers have up their sleeve!

Have an awesome trading night. I am going to get some sleep, to get ready for the European Market.
TRADE ON!

Tom Howell
www.GoForexTrade.com

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Good morning to those in Europe and Britain. It is time to rise and get to some great trading!

First of all, let’s get the news to conclude the Asian trading day…

Quick note from Japan… The Monetary Base was spot on on forecast, taking other currency crosses for a ride of at least 75-100 pips. The Pound got really hurt and dropped from 208.60 to 204.62 and still is declining at this moment. I think London will wake up with a small headache with this.

All of the numbers from Australia came out in positive fashion, as the Cash Rate was spot on, and Building approvals were well over expectation. at writing, the AUDUSD was relatively sideways at .9545, which the EURAUD cross have some greatly volatile waves in range of around 70 pips, hanging in there at 1.6290, might be something to look at on the scalping range.

While we were writing, the Swiss had some good news with the CPI staying around .8%, helping the Franc beat back the Euro, and Pound.

OIL! What is the word on my Sweet Crude Oil?
Right now, that Sweet oil that powers up everything from Cars, to making plastic bags for sandwiches and storage containers went up a wee bit to $127.40 a Barrel.

NEWS ITEMS TO WATCH OUT FOR IN EURO/GBP SESSION:
Ok Folks, I’ll lay it out per country:

ENGLAND:
Within a couple of hours, not too much after opening, You should get some numbers on Construction Indices. Just like with the Manufacturer’s Index from yesterday, it would combine employment, supplies, new orders, and inventories, and blend them into a number either nice or not so nice.

We are still waiting for those numbers from Halifax on House Finances.

EUROZONE - 13:
Expect numbers to come out on PPI and Revised Quarterlies on Gross Domestic Product. Later on today we should hear some verbage from ECB President Trichet as well.

There is your Numbers to look for this morning.
TRADE ON!

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It’s really a Gas! Another day of beating up the dollar, courtesy of the euro, and Crude Oil has seen a new high of $134 a barrel. Get ready for another day of trading insanity!

EURUSD: More Ownage From Europe!
The Folks at Frankfurt and the euro are surely beating the life out of the dollar. The euro shot up another 4 cents to nearly $1.60/euro.

BRITTAIN:
Business Investment Quarterlies and Industrial Trend Orders.

CANADA:
Core Retail Sales Month to Month, and Regular Retail Sales Month to Month

US NEWS for today:
Four News items to hold onto today: Fed Governor Kroszner is speaking around 900-4GMT. Just before his speech, we will know about fluctuations in unemployement claims, and I am not expecting good news in that department. Housing price index, then natural gas storage will be read off later on as well, but if you are an american citizen, the result should be obvious to you.

HOLIDAYS: German Market Closed
Frankfurt will be closed today in observance of Corpus Christi day.

Another Good Review Coming Up For Early Next Week!!
TRADE ON!
Tom Howell
www.goforextrade.com

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