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Live Trading with the FX Advisor
Expert: Tony Juste
Start: Fri, Jan 12, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
Weekly Webinar: 1st on Forex - The Week Ahead
Expert: Jerry Furst
Start: Mon, Jan 15, 12:00 GMT
Sponsored by: 
Type of Session: Webinar
Topics
- Calculating Support and Resistance Zones
- Scheduled Economic Events - The Ones To Watch
- Scanning the Major Pairs - What Looks Interesting!
Current Session: U.S.
GBP/USD
Mid-Day Forex Technical Report - Surprise Hike from BoE, No 'Vigilance' from ECB, EUR/GBP Tumbled... and So is Yen by ActionForex.com
Cable was once again supported by trend line support (now at 1.9316). Strong rally from 1.9316 has pushed cable above 1.9423 resistance, indicating rally from 1.9261 has now resumed for 1.9564 cluster resistance (61.8% retracement of 1.9750 to 1.9261 at 1.9563).
- 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:
Forex Trading Strategies - BoE Surprised the Market - Rates up 25bp to 5.25% by Saxo Bank
Daily Forex Forecast - Daily Forex Forecast by FXDream
Global FX Daily - U.S. Edition - The JPY has weakened further helped by political comments suggesting caution on interest rates by Mellon Foreign Exchange
Currencies at a Glance
- EUR/USD
- Moves down to 1.2900 area
1/11/2007 5:06:00 PM - GBP/USD
- Continues to move up above 1.9425
1/11/2007 5:07:58 PM - USD/CHF
- Continues to move up above 1.2475
1/11/2007 5:09:48 PM - USD/JPY
- Continues to move up toward 120.50
1/11/2007 5:11:24 PM
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US Advanced Retail Sales
| Period | Previous | Consensus | Time |
| December (MoM) | 1.0% | 0.7% | Jan 12, 13:30 GMT |
- Tony Juste, FX Advisor at FXstreet.com:
"Retail Sales are expected higher in the US as Christmas-period sales tend to be at a good reading. That should just serve as a comfortable support for the Dollar, being boosted against the majors in ligt of good economic data in the US. A bad reading could be interpreted by the market as a sign of low consumer confidence and could turn things the other way arouond, so I will be monitoring data very carefully." - FXstreet.com
Top Market Movers Review
BoE and ECB meeting review
| Bank | Previous | Movement |
| BoE | 5.0% | +25bp to 5.25% |
| ECB | 3.5% | On Hold |
Central Banks - BoE and ECB meeting review by FXstreet.com
The unexpected rate hike by the Bank of England (BoE) has surprised many market speculators and traders. This increase, altogether with the ECB soft tone, is strengthening the GBP and leaving the Euro very weak against the Dollar. Check the effect that the result of the meetings is having over the pairs in our Rates and Charts Section or compare the movements of the different banks in our World Interest Rates Table.
- Official Bank Rate raised to 5.25% - Bank of England
- Monetary policy decisions - European Central Bank
UK Industrial Production
| Period | Previous | Consensus | Actual |
| November | -0.8% | 0.3% | 0.5% |
UK Industrial Production increased in November; Manufacturing Output also up by FXstreet.com
Industrial Production has improved by 0.5% in November and 0.8% in the last twelve months, as the latest report by the Office for National Statistics show.
[ Full Story ]- Index of Production: Manufacturing: 0.1% three-monthly rise - UK National Statistics
- UK manufacturing posts first rise in three months during Nov (AFX News)