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Super Busy European Forex Market Session! August 7th 2008!

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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

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 16th 2008 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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US Market Session: July 15 2008 GoForexTrade.com

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Good Afternoon, and welcome to another trading day! A busy day is happenining in the world of forex, with the US taking a nice share of the news. Let’s go through the rundown on the european market and go through what has happened so far in the US Market!

EUROPE SESSION:
England:
CPI compared to last year 3.8%
Core CPI compared to last year 1.6%
Retail Price Index compared to last year 4.6%

EuroZone:
German ZEW: -63.9
Euro ZEW: -63.7

US SESSION:
Canada:
New Car Sales are up 1.1% over last month
The Bank of Canada has decided to keep their rates at 3%

United States of America:
Core Retail sales have slumped below expectation, but boosted .8% while the regular Retail Sales number have only went up .1% PPI compared to last month has increased 1.8% and the Core PPI only have increased .2% instead of reaching consensus of .3%

The Empire State (New York) Manufacturing Index has only declined 4.9, but not as bad as expected.
Investor’s Business Daily had their T.I.P.P. numbers come out and they did rather well at 37.4. Business Inventories increased .3% also!

Today both Federal Moneyheads Ben Bernanke and Henry Paulson had their piece today. Ben Bernanke sounds like the American Citizens have a ton to worry about. Why? Ben had mentioned that all around (housing, jobs, dollar, inflation, etc), the economy is still having a problem despite the Bank rate cuts that were recently issued.

The euro took a good stab as this news occurred. The Eurozone is now at a high of $1.60. How far will the dollar drop until a resolve occurs?

Henry Paulson, had of course a few words to say on the mortgage situation with Freddie Mac and Fannie Mae and the treasury’s position on not throwing out any emergency loans or purchasing any of their stocks.

That is the US Market Session Report. Be back later on for the asian market session
TRADE ON!!!

Thomas Howell
GoForexTrade.com

European Market Open: 7/10/08 GoForexTrade.com

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Good morning and welcome to another trading day! Are you ready to win???

Let’s first report the results of the asian market news, shall we?

First, we had New Zealand with the Business NZ Manufacturing Index. The numbers came up a bit short at 45.7 compared to the previous time around at 47.9.

Japan had a pair of number releases as well. Their CGPI had done a nice job at 5.6% compared to consensus’ bet of 5.2%, the result this time last year was 4.8%.

Also up was the Current Account. The Current Account did nicely, well over expectation at 2.03 Trillion! NICE WORK!

In Australia, we had their jobs report. The employment change actually did quite well, boosting to 29.8K more jobs then previously and the unemployment rate managed to notch down to 4.2% as well. GOOD STUFF!!! Let’s see the US pull that one off! lol.

For today’s european market session, here is the news:

645 GMT
France will release their monthly industrial production numbers.

800 GMT
A Trifecta of numbers going public here. First we will have a bulletin from the European Central Bank, Then Italy’s Industrial Production Numbers will come forward.

Finally, if they show up, we will have England’s Halifax House Price Index, which is released Monthly.

Two more things from England to wrap the major news out of the session: The Official Bank Rate will be released and a statement from the Monetary Policy Committee.

1745 GMT, Do not forget we have ECB President Jean Claude Trichet speaking as well. His podium piece will be at the Euro’s 10th anniversary Celebration.

Folks, see you later on for the US Market Session news.

TRADE ON!!!

Euro Market Open 6/19/08 GoForexTrade.com

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Good morning traders! Ready to get some pips moving in the right direction? I know I am all for a great trade or two. Let’s break down some news.

First, recapping the asian market, a brief report…
So, the Bank of Japan (BOJ) released the minutes to their latest thoughts on Monetary Policy. Due to a stir crazy market on currencies and commodities, it has tied the hands of japanese economy, and really cannot give a clear signal to go either way in the rates for the BOJ.

In Australia, the Westpac Melbourne Insttitute released their monthly leading index to a number of .4%.

For the european news end of things today, nothing is going to be reported until at least a couple of hours from now. We will be waiting for Monetary Policy Committee Meeting Minutes and a bit later on, Confederation of British Industry - Industrial Trends Orders from England. Switzerland will release their ZEW expectations.

Have an awesome day trading the euro session! See you in several hours for the US market open!

TRADE ON!
Tom Howell
GoForexTrade.com

Europe and England Open - June 5th 2008 GoForexTrade.com

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Good morning! go Grab yourself a full breakfast! There isn’t major trading News events on the European side for a good while! Go relax and take a small break, YOU DESERVE IT FOR YOUR HARD WORK!

For right now, let’s cover the Asian Market Session:
For Oceania, New Zealand’s Central Bank has decided to keep interest rates still for right now, and Australia’s trade deficit was well under expectation, and positive, but didn’t move the Aussie Dollar much.

EURO NEWS

When you come back with a full belly and a pot or two of coffee or tea properly drained, We have Monthly Germany Factory Orders around 1000GMT. the magic number to look for is .4%. Also look for the Minimum Bid Rates from the ECB to come out as well. Then shortly after, the European Central Bank will hold a press conference.

ENGLAND NEWS:
And we are still waiting for Halifax Bank to state the house price monthlies, but a bit later on, around 1100GMT We will get a statement on Bank Rates. And to coincide with the Bank Rates, we have the Monetary Policy Committee talk about the status of the economy, and projects an economic forecast.

CURRENT RATES:
EURUSD 1.5446
USDJPY 105.61
EURGBP .7907
AUDUSD .9560
GBPUSD 1.9531
CRUDE OIL 122.05

Have an awesome trading Day! And I will be back in several hours for the US report

TRADE ON!