Friday, June 09, 2006

Forex Trade - 06.09.06

1:50 pm EST- No trades

Well the Trade Balance and Import Prices caused a nice drop in the Euro but because it was a news candle, I did not trade it. After the news releases, the Euro moved back up within the EU session range and pretty much stayed there the rest of the day. Luckily, we were able to stay out of the market today as the Euro jumped up and down the whole day. It will be interesting to see where it will go next week. Have a great weekend! ~Big Pippin

Results: +0 pips

8:00 am EST - Analysis

Good morning! We have the montly US Trade Balance and Import prices report this morning at 8:30 am EST. The Trade Balance is the measure of difference between total imports and total exports. It has a significant impact on a country's GDP, so it has the potential to be very volatile. Consensus is around -65B versus the previous number at -62B. Any surprise or revision of earlier numbers should cause some volatility. Also, we have Big Ben Bernanke speaking at 11:00 am EST. Any comments on inflation or interest rates should cause a stir in the market, but probably won't filter to the market during our trading session. Good luck, good trading, and have a great weekend!! ~Pipcrawler

EU Session High: 1.2672
EU Session Low: 1.2625

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