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 and welcome to another trading session.

Oil News: Crude is dropping not at the rate of Bear Stearns but close to it. Oil is right now dropping another $1.33 down to $120.08.

Outgoing Asian Market News:
AUSTRALIAN BANK RATE NEWS!!! As of right now, we just got word that the Reserve Bank of Australia will keep the rates at 7.25% for right now. Do not forget the Us has a rate decision also later on today!

Australia also has a Services PMI that was released at 42.8 compared to the previous 45.4.

ANZ Commodity prices also finally showed up as well. Commodity prices were up 1.8% over the previous month!

MAJORS:
EUR/USD: 1.5533
USD/JPY: 107.91
GBP/USD: 1.9567
USD/CHF: 1.0509
Here is the European News for today:

We are still waiting for the Halifax House Price Index.
All times in GMT:

0900 and 0930: Europe and England are releasing their purchasing managers index in the services sector

also at 0930: England has numbers coming out for the Industrial Production and Manufacturing Production.

1000: caps off the european major news with Europe’s Retail Sales Monthlies!

See you in the US market!!!!
TRADE ON!

Thomas Howell
GoForexTrade.com

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Good morning! Making any serious pips on Bernanke’s Comments, or any of the other bastions of Forex News on the dollar today?

Let’s cover the european session and then we will discuss the US markets.

Today we had Consumer Price Index numbers read from Germany, France and the EU. Germany’s Final CPI was at .3%, France’s CPI was at .4%, and Europes Core Commodities CPI was 1.8% while the regular CPI was at 4%, all increases.

Switzerland had nearly doubled their expectation on their Retail sales outlook on a gain of 7.4% from this time last year! Wow! Only if the US could pull such a feat!

England also had their jobs report come out as well this morning. The Claimant Count Change, is basically unemployment claims, and they had increased 15,500 claims, over 10K on consensus. The average earning index did not disappoint at 3.8% as well as the unemployment rate did go down a bit at 5.2% compared to the previous 5.3%.

So what is happening in the US Session?
A LOT! Canada starts off the bell with Manufacturing Shipments, which came in 2.7%, up from 2.1% on last month.

The US market has a ton of news to get through, about 9 major events. The US also released their Consumer Price Index today. The core Commodities CPI increased at .3% while the regular CPI was up at 1.1%

One of the big newsies today, the Treasury International Capital Net Long Term Securities had barely reached it’s mark today. At a consensus bet of 70 billion, the index only reached 67 Billion, from a previous month’s estimate of 111.9 billion. This index accounts for those who have made securities investments that mature in excess of a year or more.

Us Industrial Production is at .5% and the Capacity Utilization Rate is 79.9%. The Capacity Utilization Rate is based on the percentage of production that is averaged out by the production capabilities of utility companies, metal mines, and manufacturers.

Then here comes the sweet! Sweet Crude Oil inventories UP! Three Million Barrels. Add that to an news equation with the US looking to drill offshore, and my friend, the oil bubble will burst!!! Sweet Crude at time of writing is now around $134. SUV owners once again rejoice!!!

reports yet to watch out for:
The National Asociation of Homebuilders will have an index around 1700 GMT, and at 1800 GMT, the FOMC Meeting Minutes will be shared.

Podium Pieces:
We are still waiting for Englands’ Monetary Policy Committee member Spencer Dale speak, but we do have some wordage from Ben Bernanke. Ben made a few words on the nature of the US’s two government backed mortgage giants Freddie Mac and Fannie Mae. Ben states that these companies are not on the brink nor any danger of failing, as they are holding their water, but they are having a difficult circumstance raising any further funds. Both firms hold and guarantee more than five Trillion dollars of notes.

Wow! Can I have some of that! just kidding!

Have a great afternoon and TRADE ON!!!

Thomas Howell
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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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

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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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Good morning and Good trading! Get some good sleep fellow traders! Today I will tell ya will be a hot one, and not with the weather, but with some key numbers on industrial production coming out today. And for those staying up to go through the US markets, we got a nice chunk of news stuff coming in 6 hours from now!

Let’s recap last night’s numbers….

England: RICS House Price Balance: -92.9% way better than expectation, and a positive result.
BRC Retail Sales Annuals: 1.9%

Japan: Core Machinery Orders up 5.5%

In Australia: Home loans were down 3% and NAB consumer confidence was a -4, as opposed previously at -8.

Today is a busy newsday in the currencies as we start the day with in Euro territory with the monthly German Wholesale Price Index. This is one of the indicators used for inflation.

Japan is getting some late numbers in with Machine Tool Orders. This is an annual number for report sales levels in industry grade materials.

Around 2.45 -4GMT we will get a number from France on Industrial Production as well, forecasted to remain the same.

4.00 -4GMT Italian Industrial Production will come in as well, same purpose as the french, for production numbers. We will also see at this time some numbers from the International Energy Agency regarding Oil prices, supply and demand.

In England, we will get around 4:30 three numbers this morning. Monthly Industrial Production, Monthly Manufacturing Production, and the DCLG house price index which is an indicator of inflation.

And later in the morning, The Bank of England Governor, Mervyn King will have a few words. King will probably speak about the numbers mentioned earlier and the effects they had on the world markets.

TRADE ON!!!!

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