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United States and Canada Market - BIG DAY!!!!

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What a big day today is going to be for the US Market. Today we will know a few heavy hitters will take place.

Firstly, we have the durable goods report coming very shortly, around 8:30a EDT.

Two hours later, we will have Crude Oil inventories. In anticipation of the inventory numbers being released, crude is currently being traded at $65.70. Remember, it could go either way, and the inventory count is not the only factor weighing in right now for the commodity.

Then 2:15p EDT comes the big enchilada. We will get the official statement on bank rates from the Federal Reserve. Everybody is seeking to have a half point cut to take the interest rate down to 1%.

Recapping the European Markets…
The FTSE and CAC are looking rather good at this time with 200+ point gains in the session. The momentum clearly hasn’t stopped from the surges from all the major global markets as the possible glimmer of optimism of a Federal Reserve rate cut is waiting in the wings.

We are still waiting for an Overall number ffrom Germany for the preliminary Consumer Price Indices, but the Lending reports seems to be in good spirits in England as there is a .5 Billion gain over expectation in personal lending, and the mortgage approvals went up a thousand over forecast to reach 33,000 mortgage approvals.

That might not seem much, but also realize that England only has 60 Million people, and stricter credit standards than the US, which for one time had loose standards and a population close to 300 million people.

Hope for the best! Keep your chin up and the dream alive!
TRADE ON!!!

Thomas Howell
GoForexTrade.com

European Markets - Asia ok Crude $64.25 Nervous on Fed Rate Cut

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(At the time of writing, the EURUSD on the 30 minute chart has seen a 70 pip upshot and is hovering around $1.27. Also The Nikkei Average right after I finished the article here, upshot +465 points, now 8087.83! )

A mixed session for Asia, as the Nikkei pulls 140, modest compared to yesterday’s bull blowout. The Hang Seng pulls 171, but Singapore’s Straits are not boding as well at a negative 24.

All is well, but nerves are felt all over the world with the United States Fed Rate Decision coming during the US market. The Federal Reserve is going to have to make some major decisions, and possibly push a rate cut that will bring the interest rates to historical lows. The forecasters are hoping for a 1 percent rate, taking a half point drop from the current rate of 1.5%

Crude Oil is sitting around $64.00 as profits from oil companies are coming into question and shrinking demand and economic factors weight heavy.

The european markets have a few index releases that are newsworthy.

Sometime in the european session, we will see Germany release the Preliminary Consumer Price Index. We are looking for a .2% decline.

England has two news items for this trading session and an evening tea. Net Individual Lending for previous month and Mortgage Approvals will be the session news, but for the evening tea, expect some words from Monetary Policy member David Blanchflower at Kent University doing a guest lecture.

All is well, and hopefully the vibe is positive for a rate cut. We will discuss more on this at the US/Canada report!

TRADE ON!!!

Forex Market July 29th 2008

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Good morning, and welcome to tuesday’s Forex Session! Another fine day chock full of opportunities exist for those who want to make some cold hard cash with currency trading.

Let’s start with the european market…

Europe: Germany sometime today will release the Preliminary Consumer Price Index, which is expected to be .5%. Switzerland will release a consumption indicator.

England will have a trio of events, two of them for their mortgage report. The mortgage report consists of reading last month’s mortgage approvals, and then Net Individual loan numbers. Then the CBI will release their Distributive Trades Realized statement.

In America, we will see Standard and Poors with their Housing Price Index, which covers the changes in house products in 20 metropolitan areas. Then we will see the Consumer Confidence Index.

Capping today’s news, in the Asian Market, Japan will have their Preliminary Industrial Production Monthlies, and Australia will have Monthly Building Approvals.

There is the news! TRADE ON!!!! MAKE SOME PIPS!

Tell me your success stories in trading forex! I do like to hear them! And also questions on comments as well! I had a trader ask me about Gas Prices, and I gave my two cents on the issue! Keep throwing them at me!

Have a great trading session!
Tom Howell
GoForexTrade.com

US Market Open: 6/30/08 GoForexTrade.com

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Good morning and thank you for stopping by GoForexTrade.com!

Let’s get to the news…

First, covering the european market, we noticed that England was not having such a nice day. The Services Quarterlies were right at the line, but Mortgage approvals and Net Lending for Individuals have taken a bitter decline. Mortgage Approvals declined by 10K applications, and Net Lending went down 1.6 Billion.

Both the european and Italian Consumer Price Index numbers came back to the good.

The US Market News So Far…
Canada’s GDP has done right to the tune of +.4% over an expectation of .3%

In 15 minutes from now we should be getting the Chicao Purchasing Manager’s Index numbers in. Stay tuned for the late afternoon report today. We will cover today’s activity, and report the Asian Session.

TRADE ON!!!

European Market Open: 6/30/08 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!

Asian Market Open/North America Wrap Cap for June 2, 2008

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well, Today was quite a busy day in money.

The Pound has somewhat recovered despite the depressing negative results from today’s Mortgage and Loan indices. With credit more difficult than ever to obtain and Manufacturing numbers falling short, the pound has taken a one cent fall over the dollar, but has surprisingly rebounded. At writing, the GBPUSD is at 1.9661.

On the american side of the pond, Shockingly good news in the Manufacturing indices showed an improvement and construction spending is at .4%. Despite all of the good news, The Euro had it’s day in the sun with a positive Manufacturing level as well (Amazing, it seems like everybody has to get their Manufacturing reports in on the same day!) and was playing a see-saw chart in a 75 pip range. Within a couple of hours ago, the EURUSD spiked at 1.5590, but has retreated to 1.5538.

So, with all your news chewing pleasure on this side of the Pacific fulfilled, let’s pay attention to Asia.

Japan starts the trading news day with their Monetary Base. They are basically counting everybody’s assets and turning it into a index, which is used as an economic barometer.

Australia has a busy day in the news wires with four major reports coming out within the next few hours. First we start with Building Approvals, which is the index that contains data on the amount of building permits which are approved. This is gauged on a monthly basis. The current Account numbers will come out as well, think about it kinda like a GDP number.

Also the Reserve Bank of Australia and announcements for overnight interest rate numbers are expected as well.

Folks, Have an awesome night of trading. Time for me to sleep and get rested so I can wake up at 600GMT for Europe’s Open!

Norb’s Forex Tracer is on the chopping block for review tomorrow, Don’t miss my review!

TRADE ON!
Thomas Howell
www.GoForexTrade.com

Mid Day Market Cap: Euro Close and North American Midday:

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Sorry about not posting this morning. I am still getting used to the schedule for blogging 4+ articles a day and I will have it down and pat within a couple of days.

I will give you a quick rundown on today’s market activity.

European Market Wrap Cap:

Manufacturing Indices:
Everybody for some reason has read their numbers in manufacturing today. Europe was right on the ball, while England was just short under the target.

The Mortgage Market has definitely taken a slide:
Now there is a super obvious indication that the world credit markets have taken a plunge. We are seeing a sharp decline in mortgage approvals(58,000) and non mortgage loans(7.3Billion compared to 7.8Billion previously).

The Manufacturing indices from the US have came back in well positive form, but despite this the Euro has taken a sharp upturn, and is looking to make a recovery. Construction spending has gone down .2% over the last month.

And that is your market wrap cap. Be back at 4 to cover Asia.

TRADE ON
Thomas Howell
www.goforextrade.com

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

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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