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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

Asian Market Open: 6/23/08 GoForexTrade.com

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Welcome back from the weekend! Are you ready to handle another hardcore week in currency trading?

There are tons of major news events happening this week! News traders rejoice in euphoria!!! the Jeddah Oil Summit, Unemployment numbers from a couple of markets, to PMI’s and Consumer Confidence, and Several GDP numbers as well! GET READY FOR SOME VOLATILE BLOWOUTS THIS WEEK!!!

All day, the oil summit in Jeddah, Saudi Arabia will be a core focus, as Riyadh and OPEC are in a Crude Oil Output leveling match. Expect some currency shifts to occur depending on the aftermath of the summit.

England’s Pound will be monitored with the reading of the Rightmove House Price Index. This index will reflect fluctuations in asking prices for houses that are for sale in England. Rightmove.co.uk, a real estate website in England, has a similar caliber and weight to the US’s Realtor.com.

Almost three hours from now, Japan has a number coming out for the Business Survey Large Manufacturing Conditions index. The numbers are a result of a survey, that is given to business owners who are asked on their business levels. Either they can respond with an increase, a decrease, or an unchanged level of business. The magic number to look for is -17.

Australia will release later on, numbers on New Motor Vehicle Sales. This index is in the monthly range.

New Zealand will release shortly thereafter annual Credit Card spending numbers.

See you later in the European Session! Also I had mentioned on the Trader Tech Segment, that I will be unveiling a new segment shortly. I will let the cat out of the bag here. I am going to write in addition to the Trader Tech articles on the weekend, a segment on the fundamentals and strategies in Forex Trading. Keep your browsers and RSS readers on full alert!

TRADE ON!
Tom Howell
editor
GoForexTrade.com

US Midday 6/16/2008 GoForexTrade.com

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Good afternoon! How has trading been for you so far?

Let me throw down a quick lunchtime report for ya!

Canada’s New Motor Vehicle Sales have declined 2.6% from previous months which is a trend of decline for it’s third month. The principal cause is theorized at lower sales in the western provinces of Canada.

USA NEWS:
The Empire State Business Conditions Index has came in more negative then expectation. At -8.7, The index has been in a negative trend for a fifth straight month.

TIC Net Long Term Transactions have taken a nice boost well over the $63 Billion expectation to $115.1 Billion.

We are still waiting for the National Association of Homebuilders numbers which are due in about 30 minutes.

So, what did Uncle Ben say about Health Care?
Oh yeah! Fed King Ben Bernanke had a podium piece in congress today sqwaking about the price of health care and how it is going to rise exponentially over the short term. While on the lectern, Uncle Ben did not make a mention of Monetary Policy or our worsening Economy.

See ya this afternoon!

US Market 6/16/08 GoForexTrade.com

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Good morning my fellow American Traders! And to those trading in the europe session, how are ya doing? Getting some hardcore pips over there?

So, for those fellow European traders… How did your trading day do so far?

Well, over in the land of Helvetica, (Switzerland for the geographically challenged), Current/Previous year sales fell a staggered 9.4%. Is anybody buying Watches and swiss army knives still? Cmon! Buy some up and help Switzerland with their retail! lolZ (check out them swiss army usb drives, they are cool!)

We also had Core and Regular Consumer Price Index reading from the Eurozone. Core CPI rose 1.7%, and CPI rose 3.7%. Nice!

So what is going on stateside today for the Americans?
Well, over to Canada first, the US’s “hat”, we will be shortly getting numbers for New Motor Vehicle Sales. This is a monthly indice.

Back to the US, we have a few news items…
First, we have the Empire State Business Conditions Index. This measures the general business conditions of manufacturers in New York State, the empire state! Why does this have a great deal of heavy bearing. Well, New York City is in the state of New York (duh!) and New York City handles a great share of US and international business (double duh!)

Then we will get a number on Net Long Term Transactions. Think about holding a stock, bond, or other security over a year, that sums it up there!

Also, we are getting a podium piece from Fed King Ben Bernanke as well. This time, the venue will be in congress, and the theme will be centered around health care issues.

Then after lunch, look for the National Association of Home Builders releasing their Housing Market Index. This one will promise to be a nail biter folks!!!

See you at lunchtime!

TRADE ON!
Thomas Howelll
editor
GoForexTrade.com