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Current Session: U.S.
GBP/USD
FX Thoughts for the Day - FX Thoughts for the day - Evening - 04-Jan-2007....1243 GMT by Kshitij Consultancy Service
The Cable continued with its sharp fall today during the day also as the pair hit a low of 1.9399. The pair has broken a very important level of 1.9430 earlier today and a close below this could lead to further weakness in the pair. If so, there could be a decline towards 1.9275 during the week.
- Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
- Insight on the fundamentals in the Fundamentals section at FXstreet.com
- What´s next on the agenda? Take a look at our Economic Events Calendar
- What's going on in the markets? Read our latest Forex news
Other Topics for this Session:
Daily Technical Briefing - "Greenback Follows Through" by FXCM
Daily Trading Strategy - The dollar makes a key move by MVDForex
Daily Market Commentary - The dollar surged on Wednesday by Global Forex Trading Ltd
Currencies at a Glance
- EUR/USD
- Continues to trade below 1.3100
1/4/2007 4:18:16 PM - GBP/USD
- Continues to trade below 1.9450
1/4/2007 4:20:51 PM - USD/CHF
- Continues to trade above 1.2300
1/4/2007 4:23:39 PM - USD/JPY
- Continues to stay above 119.00
1/4/2007 4:25:58 PM
Charting the Market Movers
EUR USD, Hourly
EUR JPY, Hourly
Top Market Movers Preview
No market movers expected for this session.Other Events
| Date | Country | Event | Previous |
| Jan 4, 23:50 GMT | Japan | Monetary Base (YoY) | -22.3% |
| Jan 5, 05:00 GMT | Japan | Vehicle Sales (YoY) | -6.5% |
Top Market Movers Review
U.S. ISM Non-Manufacturing
| Period | Previous | Consensus | Actual |
| December | 58.9 | 57.0 | 57.1 |
U.S. ISM Non Manufacturing decreases in December, Factory Orders grow by FXstreet.com
Services ISM has declined in December to 57.1 from 58.9 in November, in line with the analyst’s expectations who advanced a decline to 57.0. New order Index declined to 54.4 from 57.1 in November, while employment index grew to 53.3 from 51.6 in November. The prices index has gone up to 59.1 from 55.6 in November
- ISM: Service sector grows at slower pace (AFX News)
GfK Consumer Confidence
| Period | Previous | Consensus | Actual |
| December | -7 | -6 | -8 |
Consumer Confidence Falls in December in the UK by FXstreet.com
British consumers were less willing to make big purchases in December, which made the Consumer Confidence survey fall to a level of -8, as the latest survey from GfK NOP shows. According to the survey, consumer confidence declined to -8 from -7 in November, although, always according to the report, consumers outlook for the economy has become more optimistic in the last 12 months, yet they are more reluctant to make big purchases, probably due to the interest rate hikes that took place in the last six months.
[ Full Story ]- GfK Consumer Confidence - GfK NOP [DOC, 68K]
- UK consumer confidence index falls to -8 in Dec vs -7 in Nov (AFX News)
Euro Zone PMI
| Period | Previous | Consensus | Actual |
| December | 57.6p | 59.5p | 57.2p |
Euro Zone Services PMI edges down in December by FXstreet.com
The services PMI of the countries sharing the Euro has reduced slightly in December, according to the last report by Eurostat, nevertheless, the odds for a new rate hike by the ECB remain intact. Services PMI has declined to 57.2 in December from 57.6 in November, although the health of the tertiary sector seems fairly good, and its growing pace is solid, yet somewhat slower than expected, the consensus was around a reading of 57.6. In regards to countries, Germany recorded the best results while France and Italy declined.
[ Full Story ]- Euro zone Dec services PMI falls to 57.2 vs 57.6 in Nov (AFX News)
- UK Services PMI, at nine year high (FXstreet.com)
- UK Dec services sector PMI rises to 60.6; highest since June 1997 (AFX News)
- Spain Dec services sector PMI 58.1 vs 60.4 in Nov (AFX News)
- German Dec services PMI 57.6 vs 56.8 in Nov; consensus 57.5 (AFX News)
- Italy Dec services PMI 55.0 vs 56.2 in Nov (AFX News)
- French Dec services PMI falls to 57.6 vs 58.8 in Nov (AFX News)
- Pound makes only small progress on strong services PMI, consumer lending data (AFX News)
- Euro remains softer after weaker-than-expected services PMI (AFX News)