Another US Holiday

• kevinmhughes
• January 18th, 2010

I trust everyone had a great weekend and you’re all ready to enjoy one more day off in observance of Martin Luther King, Jr. Day.  The US equity markets are closed and banks are closed.  The currency markets and futures markets, on the other hand, are not closed.  The economic releases from around the world have already been released with the exception of the $CAD International Securities Transactions.  The releases today are, for the most part, non-important, but they are all numbers that will need to be stated for the sake of economies.  Here are some of the numbers:

$JPY – Industrial Production* YoY came in at -4.20% where the previous number was -3.90%

- Industrial Production MoM came in at -2.20% with the previous number being +2.60%

- Capacity Utilization** MoM (Final #’s from November) came in at +3.20% with the previous being +.20%

$GBP – Rightmove Home Price*** MoM came in at +.40% with the previous being -2.20%

- Rightmove Home Price YoY came in at +4.10% with the previous being +1.70%

$EUR – Trade Balance**** (for Italy) came in at -790m euros where previous was -710m

$CAD – International Securities Transactions***** [still not released] the forecast is -5.00B where the previous was 5.814B

*Ind. Production – Change in total output volume produced by manufacturers, mines & utilities

**Capacity Utilization – Degree to which $JPY manufacturers use their machinery & factories OR their installed productive capital

***Rightmove Home Price – measures teh asking price of homes for sale in the U.K.

****Trade Balance – The difference in teh number of imported & exported goods & services

*****International Securities Transactions – total value of international portfolio transactions being traded by Canadians ($CAD) and non-residents

So far this trading session, there hasn’t been to much action.  The $USDX has weakened against the $GBP and for the most part held it’s ground against the $EUR (which is getting weak).  Check out the video for the levels I’ll be looking for this week.

Here are some links that I found interesting and the may move the markets (whether good or bad moves):

Japan leads Asia Lower

BoJ to Maintain ‘Easy Policy’

Stocks End Mixed; Nikkei Down 1.2%

China – Index Futures, Foreign Listings

Japan’s Kan Muted about value of $JPY

Europe not keen on U.S. Bank Tax

Ukraine in the EUR by 2015?

EUR officials debate ECB VP as exit looms

European Stocks Advance; International Power & Cadbury lead gain

Kevin M. Hughes is the President/Head Trader at K.M. Hughes & Associates, Inc. a currency trading firm based in Charlotte, NC.  For more information about Kevin or his firm, please visit www.hughesincorporated.com

Tickers: $EURUSD, forex, GBPUSD

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