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US Market Session: July 11th, 2008 GoForexTrade.com

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Good morning American Traders! Are you trading, or are you one of the folks who went to buy an iPhone?

Crude Oil is back where it’s started at $146.35. Should you sell your SUV yet? hmm….

So Fannie and Freddie are having their issues, which are government sponsored mortgage firms.

And the Euro! Oh the euro has shot itself back into familiar territory as well, fastly headed towards $1.60!

Ok, let’s get the major forex news….
Japan:
Industrial Production Monthlies is a 2.8%, sliding just under forecast, which was set at 2.9%.
Household Confidence was rated at a high of 32.6.

Europe:
German Wholesale Price Index monthlies have slid down to .9% a bit of inflation has obviously occurred, and the possibility for more, hopefully will reduce greatly with the ECB’s recent rate increase from 4 to 4.25.

Oh Canada!:
Jobs Report: Canada has lost 5 thousand jobs and the unemployment rate has slightly slid from 6.1% to 6.2%. On the good news end of things, we report a higher trade balance at 5.5 Billion, 700 Million from previous.

The New Housing Price Index monthlies have for the most part remain unchanged.

The Good Ol United States:
Despite the good forex news, the business news stateside with the mortgage industry and disputes with middle eastern oil producer Iran is just giving the euro a field day, letting the currency recover it’s loss and then some on it’s merrily way to $1.60.

The Trade Balance has improved slightly at -59.8B. While still in a deficit, we have made an improvement, while the consensus was actually perceiving a worse forecast of -62.5B.

The Import Price Index stayed unchanged at 2.6, but blowing past the consensus of 2.0.

The number for Preliminary University of Michigan Consumer Sentiment came in on a positive note at 56.6. This is a heavy hitter, and believe it or not, this could either make the euro go packing from a sore loss, or make the euro pack and have a holiday over a negative forecast! Keep a lookout for this one!

See you in the weekend wrap, and TRADE ON!

Thomas Howell
Editor
GoForexTrade.com

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Europe Market Session: July 11th, 2008 GoForexTrade.com

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Wow! Quiet day for the european trading session! I thought there was not much major news on the Asian market, having only two major news events from Japan.

The only news on the european front for today would the Monthly German Wholesale Price Index. The consensus suggest that the number will be 1% over last month’s 1.4%.

In the US Market Session, I will report both Japan’s numbers on Industrial Production and Household Confidence.

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TRADE ON!
Thomas Howell
Editor
GoForexTrade.com

Asian Market Session: July 11th 2008 GoForexTrade.com

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Good afternoon and welcome to the Asian Market Session. Are you making any pips on the incline of the Euro and the Crude Oil jump?

The dollar has downed a bit along with oil increasing. Primarily due to the issue with Iran playing with missiles and of course a possible fear that also the same middle eastern country could cut off supplies and really screw with our economy. Fun isn’t it?

The eurodollar was at 1.5772 at time of writing.
Crude Oil was around $141.35 a barrel at time of writing.

So, how was the US market session?
Well, besides Bernanke wanting the Government to get involved with big wall street firm collapses, Unemployment claims have decreased nicely from 404K to 346K. This is well under the 397K consensus, which means we could be having SOME possible economic Growth.

And from England, the Bank Rate has stayed at 5%. The primary concern of the Monetary Policy Committee, is that the weighing of Inflation versus economic stability is a major factor in keeping the rate unchanged. Raising the rate would stave off inflation, but also could really mess up any mortgage or loan arrangements, that work on a variable or an adjustable mortgage or loan rate. Then you will have another mortgage crisis on top of one we are already having.

Case study is the current scenario in the US. With a massive drop in the Dow and a huge issue with Mortgage Foreclosures, the Fed had to make a move with cutting the interest rate drastically. Although we are saving homeowners from getting foreclosed, meanwhile prices for consumer goods and etc are rising! That is what we call inflation.

Natural Gas Storage, increase 5 Billion Cubes from 85 Billion Cubes to 90 Billion Cubes, but has not made the consensus’ bet of 95 Billion Cubes.

Trichet had a few words today on inflation and the current monetary policy. Though he did not signify a possible rate increase on top of the 25 point increase that was recently added to interest rates, Trichet mentioned a high concern for inflation.

With the Asian Market, We have two later news annoucements:
Japan will have monthly Industrial Production numbers around 1630 GMT, and a half hour later, Household Confidence.

Have a great trading day! TRADE ON!!!

Thomas Howell
Editor
www.GoForexTrade.com
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Europe Market Open 6/13/08 GoForexTrade.com

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Good morning my fellow europeans! Having a lucky friday the 13th!

Before we get to today’s events, let’s just recap the Asian session’s activity eh?

New Zealand and Japan were the busy markets tonight. New Zealand fell on monthly Retail Sales with -.5%, while the Retail Sales Indexes were at positive with a 1% over a .5%.

In Japan, The overnight rate call was spot on at .5%, and Industrial Production has improved to -.2% from -.3% from last month. The bad news was with the Household Confidence, where the Index (33.9) has just fallen short of expectation at 34.5. We are still waiting for the Bank of Japan Reports for the Month and forthcoming Press Conference.

Australia had a podium piece from Reserve Bank Governor Glenn Stevens. Stevens was gloating about with Monetary Policy and highlighting that he strongly supports the interest rate, which is keeping inflation at bay.

Ok, Here is the European News to Look Out For:
Europe has only a few things going for the forex markets today…

Just a reminder, that the G8 Finance Meetings are going on in Osaka Japan, for those who are watching for the meetings and any newsbites.

Around this time, the German Consumer Price Index is expected out. Look for the magic number to be .6%

GoForexTrade.com orders: get some breakfast and relax, because the next major event is not for three hours, as of 900GMT, Europe will put out Employment Change Quarterlies and Annual Labor Cost Indices.

And also another footnote as well, we are still waiting for the results of Ireland’s referendum on the Lisbon Treaty. This is a yes or no vote that will effect the possibility of the EU having the contents of the Lisbon Treaty going into effect.

See you in about 6 hours with the US report!!!

TRADE ON!

Asian Session Open 6/13/08 GoForexTrade.com

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Hey Traders! How is your day so far? If you are on the other side of the Long Pond, Good Morning!

So, Ben Bernanke made a podium piece at the dedication of the new Federal Reserve Bank at Kansas City. Bernanke quoted that the bank has been in sound operation for nearly a century and will still be a sound operation in the future. Ok, a very stable Delaware Corporation that is! lol

So, what is on the news tonight?
well, in a few minutes, we should be getting some word about the Google Yahoo fine mess that we have been hearing about for a while. Both stocks had taken a tumble in recent trading.

New Zealand Activity….
Tonight, look for the Core Retail Sales, and the regular Retail Sales monthlies.

Japan!
Overnight Rate Numbers will be released. Also look for the Industrial Production Monthlies, Household Confidence, the Bank of Japan Monthly Report and a press conference shortly to follow.

Also, The Group of 8 (G8) Finance Ministers will be getting together in Osaka Japan to discuss pressing global finance issues throughout the day. Look out for news shots as the trading session goes on.

Australia…
Reserve Bank of Australia’s Governor Glenn Stevens is going to wax a tad on some pressing monetary issues.

Folks! Have an awesome day of trading! See you at the Europe Open. Have fun! and TRADE ON!