Wow! What an amazing US session we had! Oil is just dropping faster than the pounds on “The Biggest Loser!” Crude Oil on the New York Mercantile EXchange has dropped down to $129.29. Keep drilling offshore and if we see prices go down to 30-40 a Barrel, I have a reason to buy a Hummer H2 in Gunmetal Grey! (Actually, I would much rather prefer a BMW X6 50i, the Hummer H2 was for effect only.)

So, how did the US Market do? Let’s roll out the numbers for you right here!!!
Building Permits are UP! 1.09 Million over .96 Million
Housing Starts are UP! 1.07 Million over .96 Million
Unemployment Claims DOWN! 366K instead of 380K!
Natural Gas Storage Cubes UP! a STAGGERING 104 Billion Cubes instead of 88 Billion on consensus. Now THAT’s what I call AWESOME! now Natural Gas will fall in price!!!

Of course we have some negative news as well. The Cheesesteak (Philadelphia Fed Manufacturing Index drops 16.3)

Tighter mortgage rules and looking further into mortgage broker compensation were the subject matter with Randy Krosner a Governor from the Federal Reserve.

Let’s not forget Canada…
Bank of Canada Mark Carney has stated in his latest podium piece, that the economy seems robust, and that Canada is doing very well with monetary policy. In the report, it is noted that Canada’s Inflation will peak due to soaring energy prices in 2009. Hopefully soaring energy prices not for long though! Start Drilling offshore NOW! heh

So what is going on for tonight?
Japan has a couple reports for today’s session. Masaaki Shirakawa will be speaking in several hours at Tokyo’s Research Institute of Japan. Look for any clues for monetary policy and also keep in mind that the BOJ’s Monetary Policy Minutes for this month’s meeting will be due out several hours before Shirakawa’s speech.

Australia will release their quarterly Import Price Index in a couple of hours.

TRADE ON! See you at the european market session!

Thomas Howell
GoForexTrade.com

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Good morning and welcome to another market session in the US! Are you ready for another action packed, news filled trading session?

The European session brought a couple of numbers this morning. Switzerland’s ZEW Expectations have actually slumped a bit past consensus at -76.9 and the Italian Trade Balance has well outshone itself with having a trade deficit of only .06 Billion! Wow! Pasta, Cured Meats, Wine, Ferraris and other good delicacies are doing well for them I see!

So what is in store for the US Market Session for today?

First stop, is Canada with Foreign Securities Purchases. Later on in the morning, Canada will release some notes from the Bank of Canada’s stance on Monetary Policy and even BOC Governor Mark Carney will even have a few words!

Ok, now back in the US, and we will have a couple of housing related heavy hitters this morning. Building Permits and Housing Starts start the morning, then we will have a number on unemployment claims.

We will have some words from Federal Open Market Committee Member Randall Krosner, most likely regarding monetary policy and opinion on interest rates.

1400 GMT will welcome the cheesesteak index (Sorry, I couldn’t help it, it was the philadelphia thing again!!!) The Philadelphia Fed Manufacturing Index will be released. 30 minutes later, look for the Natural Gas Storage numbers, and look for the magic number of 88 Billion Cubes (Cubic Feet, as in Natural Gas Measurement.)

That is what is going on with the US Market Today! we have a ton of news here, and I hope you get some serious pips along the way!!!

TRADE ON!

Thomas Howell

Goforextrade.com

P.S. And if you are struggling to get those pips, maybe you would be interested in an automated trading system such as the forex funnel. The Forex Funnel has been proven to bring in at least 6 figures a year while you just look and stare at the screen. Check out the Forex Funnel at ForexFunnel.Info

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How are you doing during this trading session so far? Making any serious pips?

How about we do a quick recap of all things in the previous european market and we will then talk about the US market.

Europe:
Germany’s Trade Balance was only at 14.4 Billion, not at the 17.4 Billion Expectation. More beemers and Benz’s please!!!

France’s Trade Balance also suffered at -4.7 Billion. And then Jean Trichet Spoke had mentioned that an inflation of 4 percent was worrying him and that there is a possibility that the inflation will not ease.

England:
Trade Balance came out to -7.5 Billion, which is unchanged compared to previous numbers.
We also got a number from the BRC regarding price changes. Prices for Goods increased 2.5% from last year.

US MARKET!!!

In Canada, Housing Starts was right on the nose with the consensus, but declined 10K from previous numbers.

The only number today from the US market but very grim indeed, was the Crude Oil Inventories. Despite the deficit of 5.9 Million Barrels of Crude, there was only a modest increase in the NYMEX. The price of Crude Oil is $136.21.

See you for the Asian Market Report!

TRADE ON!!!!
Thomas Howell
GoForexTrade.com

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Good morning! Ready for another great week of Forex trading? Back from vacation, a strong urge to come back and make this blog as successful as possible, and give you some news, reviews, and the like!

Let’s cover what has happened in the Asian Market so far!

Japan - Manufacturer’s Purchases have decreased slightly at 46.5. Housing Starts have taken a huge decline from same date last year numbers. A decline to the tune of -6.5% over the expectation of -3.7%.

New Zealand - Building Consents (Also Called Permits in other countries,) declined from previous numbers. Permits went down -42.3%. Business Confidence took an improvement of -38.6 from -49.7.

Australia - TD Melbourne Institute stats that inflation has increased .2% from last month, and Private Sector Credit has remained dead on target expectation.

England - Consumer Confidence was not there with their late night numbers late last night. -34 was read instead of the Forecasted -34, shadowing over the previous number of -29. Looks like nobody is buying in England…

EUROPE NEWS FOR TODAY!!!
Just a few to mention for today… Looks like everything will start in a few hours, so grab a nice breakfast to start your week and then come back for a few news reports.

England will output number for their quarterly services index, Mortgage Approvals, and Monthly Net Lending to Individuals.

Europe a bit later on will release Same year results for Consumer Price Index. This is an inflation indicator because it will note over previous year at this time, if any core fluctuations have been occuring. Italy will also release monthly preliminary CPI numbers.

Ok, there is your Europe News… Canada has their monthly GDP later on, and the US has their Chicago PMI index as well. We will talk more about them and the results of the european session in a while.

TRADE ON!

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Good morning my fellow Americans. How did ya’s sleep? Had a hell of a week to recover from, with oil and stock woes all across the board, hopefully this week will be better for you.

Japan, we forgot to mention, Had an index for Economy Watchers. This is Japan’s Index for the service sector, and has fell shy of expectation at 32.1 under 34.5.

How did Europe do so far in their session?
Looks like Germany is shipping more goods out then taking in to the amount of 18.7 Billion. Not Bad! Sentix Consumer Confidence came in at a way high number at 5.2 over the expected 3.0. In England, the PPI Input came in at 3.8%, well over the 2.6% expectation and the Output was 1.6% over .8%.

So far so good for europe, but a great deal of news will happen later on in the day, with a couple of anouncements being after the market close.

As we are writing, the numbers for Canada’s Housing Starts are coming out. This number is 221K, which is just over expectation of 220K.

Activity in the USA For Today:
The news items you need to watch out for today, is in about a couple of hours from now, you have Pending Home Sales and later today you have NY fed cheif Geithner talking as well as Bernanke, but he doesn’t appear until later tonight.

Meanwhile on the other side of the pond…
We will have Swiss National Bank Chairman Jean Pierre Roth speaking shortly, and around lunchtime in the states/later this afternoon in europe, another Jean speaks, Jean Claude Trichet from the Central European Bank.

Everybody have a good morning trading. Make some serious pips! TRADE ON!

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