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New York and Canada for May 12 2009

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Good morning my fellow traders! Check out the news for this morning!!!

US NEWS:
Trade balance is down, but not as bad as the consensus expected it to be. A total deficit of 27.6 Billion.

Federal Open Market Committee member Dennis Lockhart reminded us that although things are starting to improve, do not start thinking that “The recession is over” but keep vigilant until we are out of the situation.

Later on, look for the Investor’s Business Daily Economic Optimism outlook and the Federal Budget Balance Statement.

CANADA:
Trade balance is up by 1.1 Billion.

NEWS FROM EUROPE:

England: Unemployment rises to 7.1 percent over the previous 6.7 percent rate. 6.9% was expected but the situation was way worse then originally thought of.

GDP estimate is down 1.5% according to NIESR. Average earnings are down .4% but not as bad as original consensus estimates, which were in the neighborhood of .9%. Still, the economy is headed downward, it’s not over yet!

England’s Trade Balance took a hit at -6.6 Billion. Industrial and Manufacturing production is in the red, and a staggering 13.6% decline from last year in house prices have been documented. OUCH!

EUROPE:
Germany Kept on an even keel with Consumer Price Indexes and Wholesale Price Indexes.

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European Forex Market Session August 13 2008

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Welcome to your european news session report. From the asian session… Crude Oil remains pretty much unchanged throughout the asian session despite the conflicts in georgia. Main pipelines to the province have been shut down for protective measures and protect commodity prices.

MAJORS:
EUR/USD: 1.4929
GBP/USD: 1.8981
USD/JPY: 108.74
USD/CHF: 1.0841

Japan’s trio of news events have been mixed. The Preliminary Gross Domestic Product, had came in exactly on the nose with expectations, but the GDP price index failed to impress at -1.6, falling just short of -1.5. we can report that the current account has done a great job at 1.29 Trillion to the good.

In Australia, Westpac Melbourne Institute announced 9.1% on their consumer sentiment survey, and the Wage price index went in the green to the tune of 1.2%.

Tonight, in the European markets, we will see a England dominated session, with their Jobs report on the line. 0930 GMT will roll out the Claimant Count Change (Unemployment Claims), Average Earnings Index, and Unemployment rate. Look for a small increase on the unemployment rate and Claimant Counts.

England has one more item at 1030 GMT, which is a report on Inflation, provided by the Bank of England.

Europe has a number on Industrial Production around 1000 GMT.

Have a good one, and remember to TRADE ON!!!!

Thomas Howell
goforextrade.com

Europe US and Canada Forex Market Session August 8th 2008

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Good morning and welcome to another fine day in Trading Forex. Looks like the Turkish oil pipe issue didn’t affect the NYMEX numbers for long. The barrel price for Crude Oil is now back around $118.

We also have the numbers from Japan’s Economy Watcher’s Current Index, which came back at 29.3.

MAJORS:
EUR/USD: 1.5167
GBP/USD: 1.9290
USD/JPY: 109.92
USD/CHF: 1.0729

Well, in the european and us/canada markets, we are expecting a couple of heavy hitters before the weekend approaches, and we will start with Switzerland’s Unemployment rate, which came back at 2.5%, right on target with the speculators.

Europe’s news was France’s Government Budget Balance, which is at a deficit of -32 Billion Euros. Also we got the numbers for the Italian Preliminary Gross Domestic Product, which was -.3%.

All we have left now, is five crucial numbers from the US Market until the weekend, so let’s spill them out here!

1200 GMT/7:00am EDT: Canada’s Jobs report, containing the Employment Changes and Unemployment Rate.

1330 GMT/8:30am EDT: THe US’s jobs numbers are coming out as well. Earlier this week we saw the unemployment claims, but today we will get Preliminary Nonfarm Productivity, and preliminary Unit Labor Costs.

1500 GMT/10:00am EDT: United States will cap the trading week with Wholesale Inventories!!!

AND THEN COMES THE WEEKEND!!!!! YAY!

Folks, have an awesome weekend, and have a fun time! I’ll see you back here Sunday for the Asian Market Open, and Maybe for a product review???

TRADE ON!!!
Thomas Howell
GoForexTrade.com

Asian Forex Market Session August 7th 2008

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Hello! How was trading today?

Crude Oil is having a good day, falling at times below $118 per barrel. The United States did the Crude Oil Counts earlier, and we reported a higher jump in inventory over forecast!

And in O Canada! we have the Richard Ivey Purchasing Managers Index. and the index is an across the board index for purchasing managers in all industries in Canada. This number, blew the roof off of expectation and landed at 65.5. WAY TO GO!!!

MAJORS:
EUR/USD: 1.5406
GBP/USD: 1.9468
USD/JPY: 109.70
USD/CHF: 1.0606

So what is on tap for the Asian Forex Market Session?

OCEANIA’S JOBS REPORT!!!!

To start things off, we are looking first off to New Zealand. Their jobs report is due in about three and a half hours from now at 2345 GMT. the employment change is forecasted at .1%, and Unemployment Rate is predicted at 3.8%. Now remember, New Zealand is a country where a huge amount of it’s GDP comes from the Tourism industry.

For the rest of the market session: Japan will release Core Machinery Orders at 0050 GMT, and Australia will have a trio of reports being released!

Two of those reports are Australia’s Jobs report. Unemployment Rate and Employment Change will be released at 0230 GMT.

and at 0030 GMT, Australia will have a Purchasing Managers Index for The Construction Sector.

Asian Forex Market Session: July 6th 2008

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Good evening to our US traders and good morning for the Asian forex traders!!!!

What a KICKASS day that we had on wall street!
ISM came in at a nice, but slim margin over forecast, and the Interest rate stayed the same at 2%! The Dow Industrial 30 sees a gain of 335 points, and to top the good news, Crude Oil took a lowering to the tune of around 118.56! The oil bubble has been broken, and hopefully gas prices will fall harder faster sooner! Hummer H2 fans REJOICE!!!

MAJORS:
EUR/USD: 1.5463
GBP/USD: 1.9548
USD/JPY: 108.30
USD/CHF: 1.0542

With feeling hyper over such a great day, let’s head into the Asian Forex Market Session!

All times in GMT!

0030: Australia will release their Purchasing Managers Index for the Construction Sector.

0050: Japan will release Core Machinery Order Monthlies:

Australia will have their jobs report today, being usually a heavier hitter in trading news…
0230: Employment Changes (consensus: 4,000 jobs) and Unemployment Rate (consensus: 4.3%)

Have an awesome session trading!!! See you later on for the European report!
most importantly, have fun and as always….
TRADE ON!

Thomas Howell
GoForexTrade.com

Forex Market July 28th 2008

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Hello, and welcome to another awesome Forex Market Week! Are you ready to make some good pips this week? Let’s get into the news from Asia’s market, and then talk about the rest of the day.

For starters, Oil is just a bit over $123 at writing.

New Zealand has released their trade balance, which was at a deficit at -.22 Billion, but surpassed consensus’s bid at -.4 Billion. Way to go!

Australia had a couple of items on the list for yesterday, first being some words spoken from Reserve Bank Assistant Governor Dr. Guy Debelle. The podium piece was at a conventon about debt, something some of us for sure know first hand!

The second item that was on the docket was the National Australian Bank’s Quarterly Business Confidence has dropped to twice it’s previous number at -8.

Going into the European Market, we have German Consumer Confidence, which is coming in at a decline at 2.1 previously at 3.6.

The Us Market is just about quiet, but we will be expecting some word from Federal Open Market Committee member Frederic Mishkin.

The Asian Market Session later on will be the busy one here, starting with New Zealand’s Monthly Building Consents, (These are Building Permits actually, to eliminate Confusion.)

Japan has a trio of events happening. Starting with overall household spending over last year in comparison. Also look for Retail Sales, and the Unemployment Rate.

Australia comes on the map to close out the news with the Leading Index Monthlies.

Have an awesome day of trading, and TRADE ON!

US Market Session: July 16th 2008 GoForexTrade.com

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Good morning! Making any serious pips on Bernanke’s Comments, or any of the other bastions of Forex News on the dollar today?

Let’s cover the european session and then we will discuss the US markets.

Today we had Consumer Price Index numbers read from Germany, France and the EU. Germany’s Final CPI was at .3%, France’s CPI was at .4%, and Europes Core Commodities CPI was 1.8% while the regular CPI was at 4%, all increases.

Switzerland had nearly doubled their expectation on their Retail sales outlook on a gain of 7.4% from this time last year! Wow! Only if the US could pull such a feat!

England also had their jobs report come out as well this morning. The Claimant Count Change, is basically unemployment claims, and they had increased 15,500 claims, over 10K on consensus. The average earning index did not disappoint at 3.8% as well as the unemployment rate did go down a bit at 5.2% compared to the previous 5.3%.

So what is happening in the US Session?
A LOT! Canada starts off the bell with Manufacturing Shipments, which came in 2.7%, up from 2.1% on last month.

The US market has a ton of news to get through, about 9 major events. The US also released their Consumer Price Index today. The core Commodities CPI increased at .3% while the regular CPI was up at 1.1%

One of the big newsies today, the Treasury International Capital Net Long Term Securities had barely reached it’s mark today. At a consensus bet of 70 billion, the index only reached 67 Billion, from a previous month’s estimate of 111.9 billion. This index accounts for those who have made securities investments that mature in excess of a year or more.

Us Industrial Production is at .5% and the Capacity Utilization Rate is 79.9%. The Capacity Utilization Rate is based on the percentage of production that is averaged out by the production capabilities of utility companies, metal mines, and manufacturers.

Then here comes the sweet! Sweet Crude Oil inventories UP! Three Million Barrels. Add that to an news equation with the US looking to drill offshore, and my friend, the oil bubble will burst!!! Sweet Crude at time of writing is now around $134. SUV owners once again rejoice!!!

reports yet to watch out for:
The National Asociation of Homebuilders will have an index around 1700 GMT, and at 1800 GMT, the FOMC Meeting Minutes will be shared.

Podium Pieces:
We are still waiting for Englands’ Monetary Policy Committee member Spencer Dale speak, but we do have some wordage from Ben Bernanke. Ben made a few words on the nature of the US’s two government backed mortgage giants Freddie Mac and Fannie Mae. Ben states that these companies are not on the brink nor any danger of failing, as they are holding their water, but they are having a difficult circumstance raising any further funds. Both firms hold and guarantee more than five Trillion dollars of notes.

Wow! Can I have some of that! just kidding!

Have a great afternoon and TRADE ON!!!

Thomas Howell
GoForexTrade.com

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European Market Session: July 16th 2008 GoForexTrade.com

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Good morning and welcome to another great trading session in the European Market. Today is a guarantee for some hardcore business on the money side of things.

In the asian trading session, Japan released their tertiary industry activity index monthlies, and reported a decline of -.2%.

Australia had a pair of reports that came out, First being Westpac Melbourne’s Leading Index, which released a flat 0.0%. Then Glenn Stevens from the Australian Reserve Bank had commented on the possibility of keeping inflation at a low, despite slower growth and a high interest rate.

For the European Market, a busy one indeed, not as busy as the US Market, but it will have some heavy hitters today!

Europe’s Events:
600 GMT:
Germany will release it’s Final Consumer Price Index Monthlies, and 45 minutes later we will see France release their Consumer Price Index Monthlies.

1715 GMT:
Switzerland will put previous years comparisons in Retail Sales up to public…

1830 GMT:
England will have a trio of events going on, starting with a Claimant count Change, with a magic number of 10K. Also look for an Average Earnings Index and Unemployment Rate. Think of this as the “Jobs Report” For England.

Then at 1900 GMT, we will see europe with two more major news reports: The Annual Consumer Price Index and the Core Commodities Annual Consumer Price Index…

Have a great trading session! The US Market will be responsible for 11 news events, including a few very heavy hitting issues! see you then!!!

TRADE ON!!!
Thomas Howell
GoForexTrade.com

US Market Session: July 11th, 2008 GoForexTrade.com

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Good morning American Traders! Are you trading, or are you one of the folks who went to buy an iPhone?

Crude Oil is back where it’s started at $146.35. Should you sell your SUV yet? hmm….

So Fannie and Freddie are having their issues, which are government sponsored mortgage firms.

And the Euro! Oh the euro has shot itself back into familiar territory as well, fastly headed towards $1.60!

Ok, let’s get the major forex news….
Japan:
Industrial Production Monthlies is a 2.8%, sliding just under forecast, which was set at 2.9%.
Household Confidence was rated at a high of 32.6.

Europe:
German Wholesale Price Index monthlies have slid down to .9% a bit of inflation has obviously occurred, and the possibility for more, hopefully will reduce greatly with the ECB’s recent rate increase from 4 to 4.25.

Oh Canada!:
Jobs Report: Canada has lost 5 thousand jobs and the unemployment rate has slightly slid from 6.1% to 6.2%. On the good news end of things, we report a higher trade balance at 5.5 Billion, 700 Million from previous.

The New Housing Price Index monthlies have for the most part remain unchanged.

The Good Ol United States:
Despite the good forex news, the business news stateside with the mortgage industry and disputes with middle eastern oil producer Iran is just giving the euro a field day, letting the currency recover it’s loss and then some on it’s merrily way to $1.60.

The Trade Balance has improved slightly at -59.8B. While still in a deficit, we have made an improvement, while the consensus was actually perceiving a worse forecast of -62.5B.

The Import Price Index stayed unchanged at 2.6, but blowing past the consensus of 2.0.

The number for Preliminary University of Michigan Consumer Sentiment came in on a positive note at 56.6. This is a heavy hitter, and believe it or not, this could either make the euro go packing from a sore loss, or make the euro pack and have a holiday over a negative forecast! Keep a lookout for this one!

See you in the weekend wrap, and TRADE ON!

Thomas Howell
Editor
GoForexTrade.com

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Asian Market Report: 7/10/08 GoForexTrade.com

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Good afternoon to the US folks! Good night for Europe! And GOOD MORNING to those trading the asian market session! How is everybody doing? Let’s make some serious pips and turn that into some cold hard cash!!!

So, what is on the news deck for tonight? Plenty!

Japan will have a couple of news things going on. First we will see the annual Corporate Goods Price Index, which indicates the change in price of goods sold by corporations. Look for a magic number os +5.2%

Also look for the Current Account number as well. 1.90 Trillion will be the number to look out for.

In New Zealand, we will have the Business NZ Manufacturing Index. This is a survey of manufacturer’s to rate the level of business conditions on many different aspects of business operation.

at 130 GMT Australia has a couple of news items on the block as well - Their Jobs Report. Which will highlight their changes in employment levels and unemployment percentages.

That is the Asian Market Report, Make a few good pips now! and TRADE ON!!!

Tom Howell
Editor
GoForexTrade.com

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