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European Forex Market Session August 5th 2008

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Good morning and welcome to another trading session.

Oil News: Crude is dropping not at the rate of Bear Stearns but close to it. Oil is right now dropping another $1.33 down to $120.08.

Outgoing Asian Market News:
AUSTRALIAN BANK RATE NEWS!!! As of right now, we just got word that the Reserve Bank of Australia will keep the rates at 7.25% for right now. Do not forget the Us has a rate decision also later on today!

Australia also has a Services PMI that was released at 42.8 compared to the previous 45.4.

ANZ Commodity prices also finally showed up as well. Commodity prices were up 1.8% over the previous month!

MAJORS:
EUR/USD: 1.5533
USD/JPY: 107.91
GBP/USD: 1.9567
USD/CHF: 1.0509
Here is the European News for today:

We are still waiting for the Halifax House Price Index.
All times in GMT:

0900 and 0930: Europe and England are releasing their purchasing managers index in the services sector

also at 0930: England has numbers coming out for the Industrial Production and Manufacturing Production.

1000: caps off the european major news with Europe’s Retail Sales Monthlies!

See you in the US market!!!!
TRADE ON!

Thomas Howell
GoForexTrade.com

Asian Market Session: August 5th 2008

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Another busy trading day! well not for the news, so maybe you could do some wonderful trend trading today with your EMA’s and SMA’s and figure out some good plots! Maybe if you have the Forex Funnel, you could let the software plot the trends and even make the trades!!! Check this out for more information

So, onto the news!
Oil is looking a bit thinner in price today, after a huge sell off after that big windy, rainy spinny thing in the Gulf Mexico (We call that a tropical storm out there, oh and it has a name too! We call him Eduardo!) is not looking like a threat to oil supplies and refineries. The sweet crude stuff is now going for around $121 a Barrel! Can we say cheap fuel soon?

MAJORS:
EUR/USD: 1.5574
USD/JPY: 108.21
GBP/USD: 1.9624
USD/CHF: 1.0480

So, how did the news trading do?

US Market:
Challenger Job Cuts are up 140.8%
Core Personal Consumption Expenditures: up .3%
Personal Spending is up .6%, but Personal Income is slower at .1%
Factory Orders came in at 1.7%

So, what is the deal for the Asian Market Tonight? (Al times in GMT)
0030: Australia will release their Purchasing Managers Index in the Manufacturing Sector. at 0530, look for news on the cash rate for the Reserve Bank of Australia.

0400: New Zealand will release their monthly ANZ Commodity Prices!
Also remember tomorrow is a big trading day for Europe as well, with the Main PMI’s being released and also the US is having a MAJOR fed rate decision as well! Keep tapped to those news wires and …..
TRADE ON!!!!

Thomas Howell
GoForexTrade.com

Forex Market Session July 24th 2008

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Good morning and welcome to another busy, fun filled day in the Forex Markets!

Europe has a ton of news today and yes, about 80% of the news will be Purchasing Managers Indexes.

Look for Purchasing Managers Indexes, both on the Service and Manufacturing End From France around 800 GMT, then 30 minutes later in Germany, and at 900 GMT for Europe’s total PMI.

Around 900 GMT, we will get a number from Germany’s Information and Forschung Index, for Business Climates and Business Expectations. Then Europe’s Current Account will be released, expect the magic number to be -.5 Billion.

930 GMT will see numbers from England’s Retail Sales Month to Month.

The US market will see a few heavy hitters at 830 am EDT, starting with Unemployment Claims. We are looking at a slight increase in claims. Fast forward to 1000 am EDT, we will get to see numbers for Existing Home Sales, a speech from New York State FOMC Member Tim Geithner, and Natural Gas Storage, which the consensus is looking at 83 Billion Cubes.

England will have a word or two from Monetary Policy Committee Member Richard Bean around the Close of the London Market.

Japan has the news for the Asian Market Session, with Tokyo’s very own Consumer Price Index Annuals, and then a Consumer Price Index Annual for the Whole Country of Japan. Then wait 20 minutes and the Corporate Services Price Index will be public.

There is the news to look out for today. Wish you the best of luck and make another fine day of trading happen!!!!

TRADE ON!!!
Thomas Howell
GoForexTrade.com

P.S. Please check out my other blog, which we started earlier this week. http://www.iliveinsuccess.com is the new blog and I am very hopeful that you will like the content. We don’t talk much about forex in there, but what we talk about, is other fine money making opportunities and lifestyle quality modifications. So if you want a blog that challenges you and makes you want to aim for higher, please check out www.iliveinsuccess.com

US Market Open: 7/3/08 GoForexTrade.com

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Good morning! Ready for one Heck of a trading day? We have a GREAT news lineup for you today. Jobs report is due out today, and I know everybody is excited, rather for the menage a duo of the jobs report and ECB’s Interest Rate. And for our fellow US traders, tomorrow is independence day, which GoForexTrade.com will only report the european market and take an early three day weekend. Time to have an awesome BBQ!

Let’s get right down to the european news!!!
Switzerland:
Consumer Price Index didn’t make the .4% forecast, but instead opted for .2% instead. The Swiss National Bank has discussed as well about the economic forecast, and mentions possibilities over job cuts.

Europe - 13 (Eurozone)
Services Purchasing Manager’s Index reached 49.1, just a tad under the 49.5 forecast.
Retail Sales up 1.2% from last month
We will not have a bid rate from the ECB until another hour from now.

England
Services Purchasing Manager’s Index reached 47.1, under 49.5
Credit Conditions Survey states that the credit crunch is only going to worsen in the third Quarter (July-September)

So, ARE YOU READY FOR THE WONDERFUL US MARKET JOBS REPORT!
And you know this had to happen JUST after the ECB Bank Rate Statement. An amazing clusterfuck of trading porportions in the trillions is going to occur.

8:30 Eastern Time is the hot time here. We are looking at Nonfarm Employment change, Unemployment Rate, Average Hourly Earnings, and Unemployment Claims. that alone could throw the dollar around at least a few cents.

A while after the blizzard of news activity, we will get US numbers from ISM Non-Manufacturing Composite, and Natural Gas Storage.

Have an awesome day in trading, and remember, GoForexTrade.com is taking off after the Euro Market Open Tomorrow in observance of Independence day. TRADE ON!!!

Thomas Howell
goforextrade.com

Europe Market Open: 7/3/08 GoForexTrade.com

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Good morning my fellow european traders and once again good afternoon and evening to those trading the asian session!

We only had a few reports from the asian session to tell, but we can also mention that oil has gone up over $144 per barrel for the New York Mercantile Exchange.

In Australia, The Purchasing Managers in the Services Sector released a number of 45.4. Also, the Trade Balance came in with a Billion in deficit.

New Zealand’s Commodity Price Index from the ANZ, brought in a flat 0.0% meaning, that there was no indication of either deflation or inflation.

So, what is on the plate for the European Market? A few things here…
Right before the European Markets Open, the Swiss are looking at an inflation barometer with the Monthly Consumer Price Index. This will tell on the monthly level, if there is any inflation or deflation on the consumer end.

A couple hours after opening the markets, The Eurozone will release numbers from Purchasing Managers in the Service Sector. This will indicate supply and demand, and also confidence in purchasing manufactured goods. Not much later at all, England will also release their own Services PMI as well.

England will also in the same time slot release a Credit Conditions Survey. This survey will cover lending to businesses, and homes, and will release data on the lending aspect from the previous three months, and forecast the potential nature of lending three months from now.

Then we will head back to Switzerland for the Swiss National Bank Monetary Policy Report. This is a report where the Swiss Bank will “Tell-All” about the activities of the bank, and also opine on Monetary Policy and where it stands economically.

After such, The Eurozone will have three more reports to release. The First is Monthly Retail Sales. This report correlates with the buying power and confidence of the EU’s core consumers. Next, the Minimum Bid Rate, which is the Interest Rate for refinancing, which actually provide the core for the liquidity of the EU’s bank system. The last report will be a press conference of the European Central Bank. The press conference will be held about 45 minutes after a rate statement, and the president and vice president of the ECB will speak about their decision.

And look towards the Us market open as well! We have what my fellow Nadav calls a “Solar Eclipse” in the markets. A major rate release from the ECB, and the jobs reports from the US! Now today will be awesome!

TRADE ON! See you later! a busy US Market session awaits!!! NON FARM/Unemployment Rate LATER ON!!! Be READY!!!

Asian Market Open: 7/3/08 GoForexTrade.com

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Good morning/afternoon/evening/night! How is the world of currency trading treating you so far today? Making some serious pips in the wonderfully volatile market that we have been experiencing? Cool! Now let’s get to the news, shall we?

Well, first, let’s get some wordage from Mishkin and Paulson, who both had podium pieces earlier today:

FOMC Governor Frederic Mishkin, has uttered words about risks in inflation expectations, and that the Federal Reserve wants to curb any possible expectation that might arise.

Meanwhile, Us Treasury Secretary Henry Paulson, had squawked about the state of the economy, and that the end of housing prices falling are not coming to an end anytime soon. For those foreclosure investors and real estate speculators, you are still going to see some bargains in the coming months. To homesellers, I only hope the best of luck as the real estate market is still in for the hellride of it’s life.

So, let’s skip the horror stories and let’s get on to the news stories for the asian market!

Australia breaks the news silence tonight with the Services purchasing Manager’s Index tonight. This is an indicator of Buying agents and purchasing managers of services companies and buying raw materials to augment the services that they provide to the public and private sectors.

Also Australia is going to release a Trade balance number as well. This will be the indicator of which Australia is exporting more or less than what they are importing. If you ever heard of “trade deficit”, that means that the country is exporting less than they are importing.

New Zealand then takes the news end of things, and the ANZ, a leading banking authority in New Zealand, will release a commodity price index, which will cover any fluctutations in the price of several major commodities. This will indicate if there is any level of inflation.

That is all for today’s Asian Market Open, See you at the European Market Open! TRADE ON!!!

Thomas Howell
GoForexTrade.com

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!!!!

US Market Wrap Cap - Asian Session Open GoForexTrade.com

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US Wrap Cap: Bernanke Speaks! Whoah!
Yes, the almighty voice of Fed Chief Ben Bernanke has some currencies shaking in their boots today. When The Fed Chief spoke about not lowering interest rates, and declaring that the stimulus package and recent tax breaks for businesses will help shape the US economy into a better frame. Everybody took a nice beating, at least one cent/yen/pence to the dollar. The Euro had it coming, and lost 2 cents before retracing and taking some back shortly thereafter. Now the EURUSD is going sideways at 1.5454.

OIL, Yes! The light sweet, but crude reality.
After Bernanke’s rant this morning, Not only the dollar sent a smack of rebellion to currencies worldwide, but Our favorite hydrocarbon du jour took a $3 plunge (ATTENTION Speculators: REALITY CHECK!) as well to $124.30. People can drive their SUV’s with a bit more assurance now.

WHILE ON THE SUV TIP….
GM and Ford both are having their days in the barrel, No pun intended. GM is planning to close 4 plants, and Ford has reported that sales of SUV and other gas guzzling delights have taken a crap in sales volume. Could we say FIRE SALE for that H2 you always wanted in gunmetal gray? I’ll be in line for that, but unfortunately I am so salivating over an X6. NEXT!

News To Look Out For Tonight!

Tonight is looking somewhat quiet in the news end of things. in less than three hours, England is pulling a late night with numbers on the Consumer Confidence Index. I am expecting a lower number for this indice.

For the morning in Sydney, we will get from them the Numbers from the Service Sector, and Gross Domestic Products quarterlies will be out shortly after that.

Let’s swing over to the Aussie’s next door neighbor, New Zealand and shortly after lunchtime we will see the ANZ’s monthly Commodity Price Index. This will be the barometer for inflation in New Zealand, measured by 17 core commodity exports.

Last but not least, Tokyo is going to release numbers on Capital spending in a few hours. This measures the amount of funds that businesspeople in the private sector spend. The forecast is looking at -9.6%.

Otherwise, it is a quiet newsnight.

Have an awesome sleep for those on my side of the Pacific. Other wise good morning! and I will wake up with the fellow europeans to report numbers and newstuffs!

TRADE ON!
www.GoForexTrade.com