Good morning and welcome to another day of forex trading. For the news trader today, or the person who loves financial news as much as I do! There is just a hideous outpouring of different news items today, from jobs reports to home sales, and Bank rate numbers and such!

From the asian market session, we can report that Japan’s Core Machinery Orders for June have fallen 2.6%, but not as bad as the markets predicted.

Australia’s Purchasing Managers Index for Construction was rated at 41.6.

We also had Australia’s jobs report as well, with an employment change of 10,900 jobs being added to the aussie economy, but the unemployment rate remaining the same at 4.3%.

WE can report also that Crude Oil has taken up a bit to around $119.

MAJORS:
EUR/USD: 1.5461
GBP/USD: 1.9493
USD/JPY: 109.44
USD/CHF: 1.0562

And here is the news for the European Market Session, noted in GMT:

0700 and 0745, the German and French Trade Balances at time of writing were already released and we can say that the German Trade Balance is 18.1 Billion Euros in surplus, and the French Trade Balance is at a 5.6 Billion Euro Deficit.

0900 GMT will produce two news releases. Firstly, the EU’s Italian Industrial Production Monthlies, which is forecasted for a .2% gain. Meanwhile in England we are looking at the Halifax Housing Price Index, which will see a 1.5% decrease in the forecast.

1100 GMT We will get the German Industrial Production which is seeing a forecast of .8% up.

Somewhere in the market session we will also get word on any fluctuation on the English Bank Rates as the Monetary Policy Committee will release their opinion and decision on rate changes if any.

Europe will then at 1245 GMT, release THEIR rate decision and have a press conference shortly thereafter discussing any fluctuations in policy or rates.

And this will cover the insane as heck European Trading Session. Have a fun day, make some mad pips and of course….
TRADE ON!!!

Thomas Howell
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

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Good morning and welcome to another trading day! Are you ready to win???

Let’s first report the results of the asian market news, shall we?

First, we had New Zealand with the Business NZ Manufacturing Index. The numbers came up a bit short at 45.7 compared to the previous time around at 47.9.

Japan had a pair of number releases as well. Their CGPI had done a nice job at 5.6% compared to consensus’ bet of 5.2%, the result this time last year was 4.8%.

Also up was the Current Account. The Current Account did nicely, well over expectation at 2.03 Trillion! NICE WORK!

In Australia, we had their jobs report. The employment change actually did quite well, boosting to 29.8K more jobs then previously and the unemployment rate managed to notch down to 4.2% as well. GOOD STUFF!!! Let’s see the US pull that one off! lol.

For today’s european market session, here is the news:

645 GMT
France will release their monthly industrial production numbers.

800 GMT
A Trifecta of numbers going public here. First we will have a bulletin from the European Central Bank, Then Italy’s Industrial Production Numbers will come forward.

Finally, if they show up, we will have England’s Halifax House Price Index, which is released Monthly.

Two more things from England to wrap the major news out of the session: The Official Bank Rate will be released and a statement from the Monetary Policy Committee.

1745 GMT, Do not forget we have ECB President Jean Claude Trichet speaking as well. His podium piece will be at the Euro’s 10th anniversary Celebration.

Folks, see you later on for the US Market Session news.

TRADE ON!!!

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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!!!!

Thomas Howell
editor
GoForexTrade.com

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