Go Forex Trade - Forex News, Tips & Reviews

Asian Market Session: July 11th 2008 GoForexTrade.com

Posted by

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
P.S. Check out our Official Beverage, Brain TonIQ! No Caffeine, No Fat, No B.S! If you want an energy drink that will not kick you down, but instead stimulate your mind, check out Brain TonIQ.

Europe Market Open: 6/25/08 GoForexTrade.com

Posted by

Good morning! How did you sleep?

Looks like Japan had some news from the Asian Market. CSPI was up .1% from a year ago. The really good thing for Japan, was the Trade balance, which was reported well over expectation at .64 Trillion!!!

OIL: Crude stayed around $137 for the Asian Market.

So, what is in store with the European Market this morning???

A few things are going on actually. In Italy, look for numbers in Monthly Retail Sales. The magic number for retail sales is .3%. A couple hours from now, ECB President Jean Claude Trichet will be speaking (actually testify) at the quarterly hearing before the Committee of Economic and Monetary Affairs of the European Parliament, in Bruxelles (Brussels for the geographically challenged.) Try to sniff for some news on monetary policy and interest rates.

Europe will also release numbers for Monthly Industrial Orders. They are expecting a .5% decline in the reporting numbers.

Then over in England, The Confederation of British Industry will have the Distributive Trades Realized measurement, which will ask retail corporate executives their opinion and forecast in the retail sector. This is a heavy hitter for GDP, and consumer spending.

See you later on! TRADE ON!

Euro Market Open 6/20/08 GoForexTrade.com

Posted by

Good morning! Welcome to a new day of trading currencies!

Are you ready to make some serious pips in trading some good news, or off some nice fibonacci retracements! Not to mention it’s the WEEKEND!!!! yay! I know you wanted to hear that one!

Ok, right over to the news…

Today, it is going to be a simple day actually, on all markets.
EUROPE:
German PPI Monthlies are due out, and Late after market close, Jean Claude Trichet, the Europe Central Bank President will have a podium piece at a Forum in Belgium.

SWITZERLAND:
Then Switzerland will come out with their PPI Monthlies as well!

Yep! THAT’s ALL, and for the US Market Open, we are going to only have news for Canada, but stay tuned, as we get you right over the homestretch into the weekend ahead!

TRADE ON!
Thomas Howell
editor
GoForexTrade.com

Us Market Open: June 9 2008 GoForexTrade.com

Posted by

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!

Europe/England Open: June 9th 2008 GoForexTrade.com

Posted by

Good morning my fellow Europeans!!!!

How was that weekend? Have some fun! Eat an awesome full breakfast this morning with coffee and get energized to get down to some awesome forex trading. Let’s check out the news, shall we?

First, let’s see what happened over the long pond first…

Australia had an extended weekend, but Japan had a few news items to share…
Leading index falling just short of expectation at 92.8 compared to 93. But the Annual Money supply & M2 has stayed on forecast at 2%.

EUROPE NEWS!!!!
As of right now, Switzerland is doing the unemployment numbers, and as of writing, the rate remains at 2.5%, which is right on expectation. Wow, I think the US has a thing or two to learn here! lol.

Related Crosses:
USDCHF: 1.0208
GBPCHF: 2.0090
EURCHF: 1.6109

In a few minutes, we will get the German trade balance. This will signify if Germany is having a trade surplus or deficit. Shortly thereafter, Sentix will release the numbers on Investment Confidence.

Related Crosses:
EURUSD: 1.5782
EURJPY: 165.99
EURAUD: 1.6403

How is good ol’ Britain doing this fine morning!
How about a lovely spot of tea before we go on here! Thank you! And here is what’s going on with the Pound!

Well, first off, in a couple of hours we will get PPI input and PPI output numbers. This is the numbers for the purchase of raw materials that manufacturers purchase to make goods. And the latter number is for the sale of goods to the public or private sectors.

Couple more tidbits concerning europe, with a speech from Swiss National Bank Chief Roth speaking , of course Jean Claude Trichet getting his piece in a bit later, and of course England getting to stay for late night munchies and tea with RICS house price and BRC Retail Sales numbers.

More on this on our 1200GMT report for the US market open.

TRADE ON!

Asian Market Open/US Wrap Cap June 5/6th 2008 GoForexTrade.com

Posted by

Good evening to the US market, and Good morning to everybody on the other side of the big pond.

So how did the North American Market fare today?
In Canada, Building permits were up 14.5%! They got a great deal of building out there and talk about Ivey. The Ivey PMI indices have a nice positive number at 62.5 over the 58.8 expectation.

So, The United States had a nice day, despite getting a few upped by the EURO. Less folks were filing unemployment claims over last month, which means with less people on the dole(sp?), the job outlook looks a bit stronger in an optimistic anticipation of Tomorrow’s job report. Natural Gas supplies are up as well, to 105Billion Cubic feet, over the previous levels of 87Billion Cubic Feet.

Also in Us news, The Retail Sector become stronger. The Dow has also punched up 200 to end at 12.604. But I tell you, the ECB really out did the dollar after Trichet expressed his opinion on raising rates to try to curtail looming inflation. Sweet Crude, also went for the joy ride as well, increasing 4 dollars on the NY Mercantile Exchange.

Oh! I almost forgot! Our cheesesteak loving, Philadelphia pretzel eating Fed Guy Charles Plosser has stated a few words about lending and risk taking.

Ok, so we got the US/Canada News out, so let’s concentrate on the Asian session, shall we?

On Tonight’s Schedule, we have Construction Purchasing Manager Index Numbers coming in less than two hours from now.

That is all for news. Talk to you later around the Euro open!

TRADE ON!
www.GoForexTrade.com

US Midday Cap: June 5th 2008 GoForexTrade.com

Posted by

good afternoon! How is everybody doing?

Let’s recap all the fun things from the european market.

GRAB a tea and read! England News!!!
Finally, we get a number from Halifax regarding House Price. I seriously don’t know what all the fuss was with waiting for this, because Halifax reported 2.4% in the red. The Bank of England decided to keep rates at 5%.

EUROPE news!!!
And Euro decided it had enough, and thought it could kick some major ass after hearing ECB’s Trichet’s podium piece on raising central bank rates in order to curb Inflation. The euro decided to two up the dollar by gaining a couple of cents to reach over to around 1.5559. This is after of course the ECB stating that they are going to raise their inflation forecasts for this year and next.

Despite all of the talking, the Minimum Bid Rate is staying at 4% for right now.

Germany…
Monthly Factory Orders are down 1.8%. And you would think with all of them cool BMW 3 Series they sell, they would have a problem with this!

Ok, so let’s delve into some US/CAD news shall we!!!

O CANADA!
Canadian Monthly Building Permits have gone up 14.5%! Wow! Canada is just having a great time with their housing economy I spose! With how bad the building permit declines are out here (Take for example, the great declines of permits in NYC) I can only hope it turns around. Another dashing glimpse of positivity came from the Ivey PMI’s, with a rising trend of 62.5 over the expectation of 58.8.

Unemployment Claims in the US of A!
Yes! less jobless claims have been reported. They were betting the house with 374K claims, and ended up getting on the better side of things with 357K claims. I guess that is what happens when you have to leave your 9-5 executive job, and end up working for walmart! lol

Talking about Walmart, heh, we are going to report that, the big box discounters, as well as retail in general had a very strong May. Looks like people might be wanting to spend some MONEY once again!

NATURAL GAS IS UP!
Our Natural Gas stores are at 105 Billion Cubic Feet! up from 87 Billion Cubes!

Around this time, Our local Fed King Plosser is going to talk. About what? maybe something about our wonderful cheesesteaks (AND YES, THIS BLOGGER IS FROM PHILADELPHIA! WOOT!!! LOL) or maybe something about how the Euro is handing our asses to us? Who knows! Maybe he would compare our recent sector improvements to the Phillies! GO RYAN HOWARD!

Have an awesome Afternoon, Night, Morning, What have ya, and talk to you around Close.

TRADE ON!
Tom Howell
www.GoForexTrade.com

Europe-British Market Open June 4th 2008 GoForexTrade.com

Posted by

Good Morning my Fellow Europeans! Did ya sleep well?

Before we get into the wonderful world of all things trading in europe, let’s Wrap Cap the asian session, shall we?

Right at the end of yesterday’s US market, the numbers for US automaker sales came out. The numbers were just a shave off of expectation, but not hawkish considering GM is closing 4 plants and talking about cutting the Hummers Loose. Oh heck, the BMW X6 looks better IMHO anyway.

Grab Your Late Night Tea Lad!
England decided to do the late night thing and put out their Consumer Confidence Index. Actually they didn’t do bad at all! Above expectation and dandy, but when it came to the US Dollar, the Pound got pounded a bit and now is resting around 1.9580.

Australia is not doing half bad, maybe not bad at all!
The numbers for GDP and Services PMI were nice. Matter in fact it kept the Aussie Dollar out of trouble, and keep the momentum on gaining on the Euro.

And lest we not forget the Kiwi’s!
New Zealand of course as mentioned earlier had there ANZ numbers, which was 1% to the good despite fears that Alan Bollard’s uptight refusal to cut rates might land them into recessionville. Not good!

Today is going to be another wonderful day in the world of currency trading! Keep that smile!!! it works every freaking time!!!

SO what is going on today? Find out HERE!
Well in Europe Today, we have ECB President Trichet speaking as usual. Both England and Europe have their Services PMI numbers due out today, expect the England numbers to be a heavy hitter. Expect also retail sales numbers to come out as well, with Europe doing their monthlies and England doing the annual BRC quotas.

The Folks from the Organization for Economic Cooperation and Development will squak a bit about how what their honest opinion is on the World Market in a few hours time.

In the Good ol’ US of A, we happen to have one that will have the Annual Challenger Job Cuts sneak a number or two before our North America pre-market report. Shortly thereafter, but just falling in the next report (oh heck, I’ll say it anyway, lol) is the ADP Non Farm Employment Changes. This should have a nice pre-market kick in either direction today.

Ok Folks, There is your EURO/England pre-market! Enjoy and…..
TRADE ON!

www.GoForexTrade.com

Good Morning! Here is your Euro Open and Asian Close Report from GoForexTrade.com

Posted by

Good morning to those in Europe and Britain. It is time to rise and get to some great trading!

First of all, let’s get the news to conclude the Asian trading day…

Quick note from Japan… The Monetary Base was spot on on forecast, taking other currency crosses for a ride of at least 75-100 pips. The Pound got really hurt and dropped from 208.60 to 204.62 and still is declining at this moment. I think London will wake up with a small headache with this.

All of the numbers from Australia came out in positive fashion, as the Cash Rate was spot on, and Building approvals were well over expectation. at writing, the AUDUSD was relatively sideways at .9545, which the EURAUD cross have some greatly volatile waves in range of around 70 pips, hanging in there at 1.6290, might be something to look at on the scalping range.

While we were writing, the Swiss had some good news with the CPI staying around .8%, helping the Franc beat back the Euro, and Pound.

OIL! What is the word on my Sweet Crude Oil?
Right now, that Sweet oil that powers up everything from Cars, to making plastic bags for sandwiches and storage containers went up a wee bit to $127.40 a Barrel.

NEWS ITEMS TO WATCH OUT FOR IN EURO/GBP SESSION:
Ok Folks, I’ll lay it out per country:

ENGLAND:
Within a couple of hours, not too much after opening, You should get some numbers on Construction Indices. Just like with the Manufacturer’s Index from yesterday, it would combine employment, supplies, new orders, and inventories, and blend them into a number either nice or not so nice.

We are still waiting for those numbers from Halifax on House Finances.

EUROZONE - 13:
Expect numbers to come out on PPI and Revised Quarterlies on Gross Domestic Product. Later on today we should hear some verbage from ECB President Trichet as well.

There is your Numbers to look for this morning.
TRADE ON!

www.GoForexTrade.com

Time for the Europe/British Market Open/Asia Close Report!

Posted by

Good morning Europe! Good evening Asia!

Here is just a quick market cap from Asia.

In Australia…
Retail Sales expections fell just 0.2% short. I expected this and being in the worldwide slump as of right now. Inflation though has fell below expection, which is a good thing, coming in at .3%, two points below the expected .5%.

Company gross operating profits have increased 2.2% showing signs of life in the manufacturing end
of things. I am guessing that good things are coming shortly.

We neglected to mention that Australia also had a number on the Index of Commodity Prices, which is measured annually. This number came in at 28.6%.

In Japan, cash earnings was rated at .6%, falling way short of the 1.3% forecasted.
As of 2.55am EDT (655GMT)
USDJPY 105.37
EURJPY 163.56
GBPJPY 207.41

Ok, without further adieu, Europe’s Session

Today, Europe is gearing from a couple of days off to face a really busy news day. Let’s kick it off with the news events for Switzerland:

Switzerland (CHF)
Quarterly Gross Domestic Product is up .3%
in about 30 minutes, the reports from Purchasing Managers in Manufacturing will be out (SVME PMI)

EUROPE - 13
Also putting in Manufacturing Number in today is the Euro, which is expecting the number to come in at 50.5. And later in the day, Expect a few words from ECB president Jean Trichet too.

ENGLAND
Tentatively, Halifax Bank of Scotland expected to get numbers out on home finances. England too is putting in their manufacturing index numbers, as well as the recent number of Mortgage approvals. Mortgage approvals, look for magic number 64 thousand. I am not going to expect much positivity on this number, just because everybody is tightening their standards with the recent subprime mortgage mess. Last, but not least, Net Lending Numbers for individuals, which is looking at 8 Billion dollars from last month.

There is the Euro market open for June 2, 2008, Have a good night’s sleep my fellow Asian traders, and TRADE ON!

Tom Howell
www.GoForexTrade.com