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Asian Markets - US GDP Declines, Oil Drops Like a Bad Habit!

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The day after the discount interest rate drops in the US Federal Reserve, The asian markets are starting the day off in the wrong foot. As of time of writing, the Nikkei 225 is at -318 and the other two markets are not open yet. A possible tell tale sign of this huge downshot every analyst is waxing about? hmmm….

A little while ago, The Japanese market news seemed to propel the trading sentiment. Looking at a decline in unemployment percentage, household spending, modest Consumer Price Indexes, a and a slightly down Manufacturing PMI could explain the whole situ.

Or it could be some profit taking before Japan’s Interest Rate decision, which analysts are looking at a quarter point, bringing the interest rate down to .25%.

Australia’s RBA will have some words from Dr. Guy DeBelle, the Reserve Bank’s Vice President. Private sector credit from previous month has increased .7%.

The US Markets had their day in the barrel. The economic barometer, the Gross Domestic Product, has shown a .3% decline from last quarter. Another quarter of negative production could technically classify us as being in a recession, if we didn’t know already.

Unemployment claims had remained the same around 479K jobless claims. Natural Gas Storage is at 46 Billion Cubes, well over the 41 Billion cube forecast.

Oh, and before I go, check out Oil! Oil drops nearly $5 to $64.90.

Folks, Have a good Asian Session and TRADE ON!!!

Dow dives 733, FTSE, Nikkei 225, World Markets Asses Handed

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Well well well, if we couldn’t have just another fine freaking day on the street! Another day of widespread panic on the world markets, as the Retail and economic outlooks in the US market are about as bad as week old dead salmon laying on a grass marsh.

I seriously do not have any trust in the market now. Bad as week old salmon on a marsh and has more mood swings than your wife going through menopause, the uncertainty keeps on rolling. Where is the bottom? Are we yet to see a bottom to this pathetic market situation?

In the forex game (EURUSD), we are being affected from what it seems to be normal swings. a few cents and here, perfect for scalp traders who are wanting to scoop 10-20 pip trades with ease.

The dollar though as a whole is gaining ground in the world markets, only though because not only because other host currencies are having a tough time with the economy, and always concerns about inflation as well!

Remember, when you have to lower rates, inflation will eventually creep up! and if you have to raise them, you will have an increase on foreclosures god forbid if you have an adjustable rate mortgage.

Today, starting with europe, Switzerland is starting the coffee roll with Retail Sales per annum. Reported dead zero, under  the .9% up forecast.

Italian Trade Balance loss at 2.12 Billion. MORE FERRARIS!!!! heh while the dollar is gaining on the ground!!! Maybe they can have a fire sale and sell me a F430 for the price of a new Mercedes 550SL!!! That will increase the trade balance FOR SURE!!!!

Switzlerand will also push some ZEW numbers in an hour from now.

Canada is rolling out Manufacturing Sales per month.

The United States is just having one hell of a time with news. lol! The state of the news is SUCKS, with a side of Horrible!

The big hitters are going to be unemployment claims, Consumer Price Index, and TIC Long Term Purchasing. Also some major contributors to the fun today will be Industrial Production, Capacity Utilization Rate, And Chuck Plosser and the Cheesesteak Gang will release the Philly Fed Index.

But don’t go away, we also have Crude Oil and Natural Gas Storage as well! And Housing Index numbers along with Fed Member Gary Stern, will probably talk shit about the market and call out some banks for screwing things up.

And to cap things off in Asia, Japan will release tertiaries in industries, and Australia will release Import Price Quarterlies. Fun.

TRADE ON! AND keep the hope alive!!!
Tom Howell
GoForexTrade.com

Asian Forex Market Session August 7th 2008

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Good morning and I welcome you to another trading day. Not to sound like a depressed newsline, but the news was grim for the US market, and 200+ point drop on the dow 30 didn’t make anything better. A oil pipe in Turkey blows on us, and now the Oil goes trending in an ever familiar path. Thank you, Kurdish Rebels, now our crude is at $120.02.

The Unemployment Claims for the United States, now stands at 455,000, well over the 420K forecast. Well well well, home based business anybody? Maybe you should check out my sister site, www.iliveinsuccess.com for pointers on how to start your own business!

Natural Gas Storage was lower than expected, at 56 Billion Cubes, under 60 Billion on consensus.

Well look on the bright side, Consumer Credit is up, in a tighter than thou market, and Pending Home Sales are up 5.3% Those two things are good news, but unfortunately couldn’t keep the Dow from going down.

Almost forgot! The Bank rate decisions from Europe and England. Both Central Banks decided to keep their current rates, which are respectively 4.25% and 5.00%.

MAJORS:
EUR/USD: 1.5324
USD/JPY: 109.33
GBP/USD: 1.9433
USD/CHF: 1.0611

So, what is going on for the Asian Forex Market Session? well, only one news event which is for Japan, which is the Economy Watchers Current Index at 600 GMT, which is light in currency punch power. You might as well take some time off, and look towards the US market where we will see both Canada and the United States with the rest of their Jobs Report to finish the week.

Have a quiet trading session tonight! Heck, just take tonight, and go out with buddies for a couple of cold ones, or have pizza night with the family, because tonight should be quiet.

Have a good one, and TRADE ON!!!
Thomas Howell
GoForexTrade.com

US and Canada Forex Market Session August 7th 2008

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Good morning and welcome to another Forex Trading Session! Are you ready to make some serious pips? Are you recovering from the raucous European Market Session, with two bank rate statements which should be read shortly, and of course the oncoming US Market Session: Let’s roll out the pippage shall we?

Crude Oil is shooting up a bit towards the $120 pricepoint, currently sitting just under it at $119.89.

This is how the European Market Performed Newswise so far!
German Trade Balance did fine with an 18.1 Billion Surplus, France did not so well with a 5.6 Billion Deficit with their Trade Balance Reading.

WE finally received the numbers on the Halifax House Price Index from England and note a 1.7% decline in house prices.

Industrial Production was a big one in Europe as well, as Germany and Italy had numbers to release. Germany reported only a .2% increase where the forecast was slated for .8%. Italy, only increased by .1%, but the consensus was looking for .2%.

As we are still waiting for the European Central Bank’s and the Bank of England’s Rate Decision, we will let you know what is up when we get the announcements.

MAJORS:
EUR/USD: 1.5466
GBP/USD: 1.9507
USD/JPY: 109.47
USD/CHF: 1.0561

So, without further adieu, here is the news on the US & Canada Markets:
First, Canada will have a number on Building Permit fluctuations from previous month. This will happen around 1330 GMT/8:30A EDT. At the same time, we should expect news on the ECB Bank Rates, and the unemployment claims should be released in the US.

1500 GMT/10:00A EDT We will see another heavy hitter, Pending Home Sales. Recalling from my real estate agent days, this means the period from when you place and offer on a home, it gets accepted by the selling party, goes to conveyancing, and ends when you hit the settlement table and exchange cash and paper for a set of home keys.

1535 GMT/10:35A EDT Natural Gas Storage for the US. Look for 60 Billion cubes from the consensus.

2000 GMT/3:00P EDT Consumer Credit monthlies for the US.

Stay tuned and make some serious pips folks! Pay attention to europe and also the US pending home sales, as these will flip the EUR/USD one way or the other.

TRADE ON!!!
Thomas Howell
GoForexTrade.com

Forex Market: July 31 2008 GoForexTrade.com

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Good morning and welcome to Thursday’s trading session. Let’s start with the news.

Japan has improved the negative outlook a couple of shades in housing starts this morning.

The european market so far has seen Switzerland’s Consumer Price Index monthlies beat the consensus, but remains in negative territory at -0.4%

England has also negative numbers for their Nationwide House Price Index, which was released at -1.7%.

Europe has quite a few things going on today for them. We are still waiting for Germany’s Unemployment change numbers, Europe’s Unemployment Rate, Consumer Price Index flash estimates, and Italy’s Preliminary Consumer Price Index.

In the US market, we have a ton of news items to cover, first we have a pair of heavy hitters in Canada and the United States, releasing their Gross Domestic Product. Then the USA takes the rest of the cake with Advance GDP price index, Employment Cost Index, Unemployment Claims, Chicago’s Business Barometer, and Natural Gas Storage.

Also look for some words from Us Treasury Secretary Henry Paulson. I wonder what he will say!

Capping the Asian Market, we have pair from Australia, first being the Manufacturing end of the Purchasing Managers Indices, and We will get inflation numbers from TDMI.

SITE NEWS!!!

For the last couple of weeks, instead of posting 3-4 posts a day, I have only done one post a day. Honestly I do not like doing a one post a day, and I think it is really killing the integrity of the site.

As of next week, we will return to doing market reports for European Markets, American Markets, and Asian Markets. We will be doing three posts a day, One before Europe’s Market Open, Another Before The US’s open, and last but definitely not least, Asia’s report before Sydney’s open!!!

Thank you again, 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

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 17th 2008 GoForexTrade.com

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Good morning and welcome to another market session in the US! Are you ready for another action packed, news filled trading session?

The European session brought a couple of numbers this morning. Switzerland’s ZEW Expectations have actually slumped a bit past consensus at -76.9 and the Italian Trade Balance has well outshone itself with having a trade deficit of only .06 Billion! Wow! Pasta, Cured Meats, Wine, Ferraris and other good delicacies are doing well for them I see!

So what is in store for the US Market Session for today?

First stop, is Canada with Foreign Securities Purchases. Later on in the morning, Canada will release some notes from the Bank of Canada’s stance on Monetary Policy and even BOC Governor Mark Carney will even have a few words!

Ok, now back in the US, and we will have a couple of housing related heavy hitters this morning. Building Permits and Housing Starts start the morning, then we will have a number on unemployment claims.

We will have some words from Federal Open Market Committee Member Randall Krosner, most likely regarding monetary policy and opinion on interest rates.

1400 GMT will welcome the cheesesteak index (Sorry, I couldn’t help it, it was the philadelphia thing again!!!) The Philadelphia Fed Manufacturing Index will be released. 30 minutes later, look for the Natural Gas Storage numbers, and look for the magic number of 88 Billion Cubes (Cubic Feet, as in Natural Gas Measurement.)

That is what is going on with the US Market Today! we have a ton of news here, and I hope you get some serious pips along the way!!!

TRADE ON!

Thomas Howell

Goforextrade.com

P.S. And if you are struggling to get those pips, maybe you would be interested in an automated trading system such as the forex funnel. The Forex Funnel has been proven to bring in at least 6 figures a year while you just look and stare at the screen. Check out the Forex Funnel at ForexFunnel.Info

US Market Session: July 10th 2008 GoForexTrade.com

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Good morning traders! How is your day so far?

Today in the US market Session, we are going to see a few heavy hitters in the news pipe today. First, we will recap the news from the European Market Session.

French Industrial Production had slid 2.6%, sliding past the consensus data of -.5%.

We also got word from the European Central Bank’s Bulletin, quoting that the recent rate hike from 4% to 4.25% will help stabilize prices in the medium-term. They will now expect Inflation to stay under control for quite some time, and despite E-13 growth being a bit slowed for the second quarter, the trend for the long term, will see some modest growth.

We also got a number for Italy’s Industrial Production. We got a decline of 1.4% over last month’s slight increase of .4%.

We finally received numbers from Halifax on their Home Price Index. Home prices have decreased 2% from last month. I would think OUCH because a mere 2% can cut into how much you can get from your home. perhaps you had a $300,000 home, and all of a sudden, you had to come down 2% to try to keep your house in the competition for homes being sold in your neighborhood. I know your realtor and you wouldn’t be happy in taking the price cut, But that is just not happening in just the US or UK, but across the board!

Leaving my rant on housing prices, We are still waiting for a Bank Rate statement from England’s Monetary Policy Committee. We will also get a late night Euro Podium Piece of Jean Claude Trichet, the President of the ECB as well.

For the US Market, WE will have a few things on the agenda! First we will have unemployment claims, the Ben Bernanke will testify along bedfellow and Treasury Head Henry Paulson at the House Of Representatives Committee on Financial Services. Let’s hear what Uncle Ben has to say!!!

Then we will get a number on Natural Gas Storage.

Have a great day! and TRADE ON!!!!

Thomas Howell
GoForexTrade.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

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