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US and Canada Forex Market Session August 13th 2008

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Good morning and welcome to another day of trading. We have some reports from the US market already, and oil is at the same price.

The European Market from earlier recapped here!
England’s job report, as expected was all in the red. The claimant count change was at 20.1K over 17.5K. The Average earnings index who didn’t make the forecast either, and the unemployment rate went up to 5.4%.

Europe’s industrial product sagged, but is dead even at 0.0%.

MAJORS:
EUR/USD: 1.4895
USD/JPY: 108.63
GBP/USD: 1.8726
USD/CHF: 1.0872

And here is what happened so far, and what we are still waiting for:

All USD:
Core Retail Sales: .4%, but just under a .5% forecast expectation.
Retail Sales: -0.1%
Import Price: up 1.7% the only positive news so far.

We are still waiting for the Business Inventories Monthlies, and Crude Oil Inventories, which will be released around 1500 GMT/ 10:00am EDT.

Have a great day and TRADE ON!!!!

Thomas Howell
goforextrade.com

Forex Market July 25th 2008

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Good morning and welcome to the weekend!

Let’s get to the news and then get to the weekend!!!

In Europe…
Germany will release numbers from their Import Price Index. This is a monthly index. At the time of writing, this number was already released at 1.5%, over the consensus of 1.0%.

In about an hour from now, we are looking at the M3 Money Supply.

England has a couple of news items as well…
The Gross Domestic Product, which is a heavy hitter and we will see the Preliminary Quarterly Gross Domestic Product this morning. Then one more quarterly index with Services.

United States…
Big Hitters today with the Durable Goods and the Core Orders for Durable Goods Orders. We will also see numbers from New Home Sales, another big hitter, and Consumer Sentiment and Inflation Expectations numbers from the University of Michigan.

Oil: Crude managed to slip up a bit at $125.89, from yesterday’s $124.00.

Have an awesome weekend folks and remember to TRADE ON!!!!

Thomas Howell
GoForexTrade.com

Asian Market Session: July 18th 2008 GoForexTrade.com

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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

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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US Market Open 6/12/08 GoForexTrade.com

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Good morning American Forex Traders. How is everything so far? Enjoying the nice rally off of the Euro?

Before we get into today’s news events, let’s quickly recap the european sessions so far…

In Europe, French Final Employment Change Quarterlies came out positively at .4%. The European Central Bank has stated that with the current status of the central bank, they are ready to move on countering the ever increasing threat of Inflation. Industrial Production is up .9% for the month.

From One Bank To The Next:
Bank of England stating their inflation attitude index at 4.3%, over the previous percentage of 3.3%.

EU Lisbon Vote:
We are still waiting for the results of the Lisbon Treaty Vote for Ireland.

For some US Session News….

around 830 -4 GMT, We will have a round of news from the United States.
In this round of news, we will expect numbers from heavy hitters such as Retail Sales, Core Retail Sales, Import Price Index monthlies, and Unemployment Claims.

A bit later in the day, We will also have numbers from Monthly Business Inventories, and Natural Gas Storage Numbers. also expect Uncle Ben to put out a few words. In his usual speech streak, he usually helps the dollar against the euro.

Well, that is my US morning report, I should be back around noon to report the midday. TRADE ON!