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US Market Report: 7/1/08 GoForexTrade.com

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Hello there, ready for another wonderful report from GoForexTrade.com?

Let’s cover what happened so far with the Euro Market!

EUROPE - 13:
E13 (Eurozone)
Manufacturing Purchasing Managers Index - 49.2 over 49.1 Expectation
Unemployment Rate - 7.2%

Germany
Retail Sales - +1.3%
Unemployment Change -38K

England
Nationwide House Prices are down -.9% but decrease wasn’t as bas as predicted at -1.1%
Manufacturing PMI was at 45.8. Just a tad under forecast.

Switzerland
SVME PMI was at 54.9.

US MARKET:
O Canada, have an awesome day off! The land of Rush, Molson, and Gilles Villeneuve are having “Canada Day”. Have a good rest, and see you tomorrow!

The US had a few reports released already.
The institute of Supply Management released a Manufacturing Index and Manufacturing Prices. The index came in positively at 50.2 over the 48.6 forecast. And the Prices were at 91.5 over 87.1.

Construction spending also was in bull territory with having only a -.4% decline, instead of a -.5% decline. We are still waiting for a number on Domestic Vehicle Sales. We will recap the number this afternoon.

Oil: Fluctuating around $142 a barrel in the NYMEX.

TRADE ON!!!

Europe Market Open 7/1/08 GoForexTrade.com

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Good morning, and welcome to a new day of trading forex!!!

Reviewing last night’s asian market, we have a few news events to cap off…
Australia’s Manufacturing PMI has fallen 4.2 points from 51.2 to 47.0.

Japan’s Tankan Index for Manufacturer’s and Services did excellent! The Manufacturer’s had scored 5 over 3 on forecast, and the Services Index did 10 over 8. The sweet of course identifies the sour with Average Cash Earnings only improving .2%, way under expectations of .7%

We are still waiting for the Cash Rate, and a Rate Statement from the Reserve Bank of Australia if the rate does change. We will cover this later on.

Let’s cover the wonderfully busy day that the euro will have…
Right out of the gate we are going to have in the Eurozone, German Retail Sales, and England will have a number on Nationwide House Price Monthlies.

Switzerland will then have the SVME Purchasing Manager’s index. Look for a number over 50.

Europe will then shortly thereafter release Germany’s Unemployment Changes (Look for -15) and Manufacturing PMI (Look for 49.1).

Then England is up to the stage with their Manufacturing PMI. Finally, to cap off the news, Europe will release their E-13 unemployment statistics later on.

Have a great one, and TRADE ON!!!

Asian Market Open: 7/1/08 GoForexTrade.com

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Good morning/afternoon/evening/whatever time of day!

So, Oil is still ringing in high over $143 a barrel, and a mixed day in trading. Canadian GDP came in good, and so did the US’s Chicago PMI.

So, what is on tap with the upcoming asian market?

Australia has a few numbers coming out tonight. Shortly, we will see the Index for Purchasing Managers in the Manufacturing Sector, then later on we will get word on the Cash Rate, and Reserve Bank of Australia make a Statement if the cash rates does make a change. And right around close, we will see the annual index on commodities.

Japan will see two very important numbers from the Tankan Indexes that cover Manufacturer’s and Services. A while afterwards look for the Annual Average Cash Earnings.

See you at the Euro Open!
TRADE ON!!!

US Midday: 6/23/08 GoForexTrade.com

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Good afternoon, evening, and morning wherever you are!

Red News for Europe:
WHOAH! Am I seeing things, or did the Euro just take a serious ass kicking? Every single news event for the european market, with the exception of German Services Purchasing Managers Index which did modestly ok, got their asses handed to them!

Germany
Manufacturing PMI: 52.3/expected 53.2
Services PMI: 53.3/expected 53.1
Ifo Business Climate 101.3/expected 102.5
Ifo Business Expectation 94.7/expected 96.3

EUROPE:
Manufacturing PMI: 49.1/expected 50.2
Services PMI: 49.5/expected 50.5

So the euro is dumping a cent an a half. But by market close it doesn’t look like they are going to give up, and the euro starting kicking some ass once again! After being plunged down to nearly 1.5465, the euro will recover at 1.5508 and head upwards.

Crude Oil: as of 1246 -4GMT, Crude has managed to slip up another dollar to $137.81.

For this afternoon, the only news event in the on deck circle is a podium piece by Bank of Canada’s Sheryl Kennedy.

TRADE ON!!!!

Euro Market Open 6/23/08 GoForexTrade.com

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Good morning to the european market traders and Good evening to my fellow asian market traders. Looks like everything has been relatively calm as of recently from looking at the majors charts.

Let’s cover some news!
England Late News:
The Rightmove.co.uk House Price Index has declined 1.2%, taking back from the last months’s gain of 1.2%

Japan News:
BSI Large Manufacturing Conditions Quarterlies…
Not as bad as a decline as they originally expected. Instead of -17, we received -15.1! Not bad! Looks like some companies are not doing as bad as some might think!

Australia News:
New Motor Vehicle Sales have declined 1.6% from previous month.

New Zealand News:
Credit Card Spending is up 5.9% from last year.

Today is a very heavy European Session, with all of the news events circulating around the EUROZONE 13.

Four out of the six events slated on the calendar, are Purchasing Manager’s Indexes. This is the index that meters corporate buying activities, on a service end and manufacturing raw materials end. First, Germany will have their own Manufacturing and Services PMI, then 30 minutes later, Europe will release their Manufacturing and Services PMI as well.

The other two events are in Germany. Both are from Information and Forschung, which will monitor Business Climate, and Business Expectations. These two indice are heavy hitters, so expect some movement when these numbers are released.

CRUDE PRICE? Hovering around $136.00. Might go down a tad, because Saudi Arabia is defiant in following OPEC’s March with crude production output, and that Iraq has relegated oil fields to foreign companies to produce and process crude.

There is your European Market Report. There are no major news events on the Calendar for the US market, but you never know what could go on with the Oil Summit, and the US economy, so we will keep tabs on those as well.

TRADE ON!