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ASIA-PACIFIC Trading Newsletter
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NEXT WEBINARS
What moves currencies? - BoJ rate decision impact
Expert: Tony Juste
Start: Thu, Jan 25, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
Topics
- Economic analysis
- Market impact
24 hour Outlook
Expert: John Putman
Start: Thu, Jan 25, 18:00 GMT
Sponsored by:
Type of Session: Webinar
Topics
- GBP/USD, etc.
- EUR/USD
Current Session: U.S.
GBP/USD
Global FX Daily - U.S. Edition - Aussie CPI dents rate hike hopes, but RBA may still act by Mellon Foreign Exchange
Cable fell further on the minutes and very briefly traded just below 1.9700, although this was quickly reversed. Resistance is now at 1.9800-30 and in the short-term there could be selling into rallies and downside risk. Support is at 1.9670-1.9700. Above 0.6607 on EUR-GBP is required to generate some extra corrective risk on that cross.
- 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 - US Dollar Holds Support: Unleash the Bull by FXCM
Daily Trading Strategy - The Pound aka “Terminator” by MVDForex
Forex Trading Strategies - AUD and JPY strength by Saxo Bank
Currencies at a Glance
- EUR/USD
- Moves down below 1.3000
1/24/2007 3:41:22 PM - GBP/USD
- Continues to move down below 1.9700
1/24/2007 3:41:56 PM - USD/CHF
- Continues to move up above 1.2475
1/24/2007 3:42:26 PM - USD/JPY
- Trades above 121.25
1/24/2007 2:27:16 PM
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading Ltd. , KBC Bank, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
RBNZ Rate Decision
| Previous | Consensus | Time |
| 7.25% | On Hold | Jan 24, 20:00 GMT |
Economic Release Alert - UK GDP and RBNZ Meeting to Take Center Stage by FXCM
The RBNZ monetary policy group is expected to pass on a shift yet again at the conclusion of its two day-meeting. What's more, a growing number of market participants and economists are expecting a new dovish tinge to show up in the comments that follow the actual decision.
[ Full Story ]Top Market Movers Review
BoE Minutes
| Int. Rate | Movement |
| 5.25% | 25bp hike after a 5-4 vote |
US Open Market Points - Pound Cools as BOE Split But GDP Strong by FXCM
The BoE minutes revealed that the Monetary Policy Committee was surprisingly split on the issue of last month's rate hike with the final vote tally a much closer than expected 5-4 (traders were looking for 7-2 and some cable bulls were even calling for unanimous vote).
[ Full Story ]- Minutes of the meeting held on 10 & 11 January - BoE [PDF, 106k]
- BoE MPC split 5-4 for rate hike to 5.25 pct at Jan 11 meeting (AFX News)
- Pound eases on news of split vote to hike rates (AFX News)
- Compare the movements of the different banks on our World Interest Rates Table
- Tony Juste, FX Advisor at FXstreet.com:
"The Bank of England is not unanimous in its decisions and that could affect both UK growth expectations and GBP value in the short term." - FXstreet.com
- Howard Archer, chief economist at Global Insight
:
"We believe that 5.50% will mark the peak in rates as growth loses some momentum over the coming months and inflation heads back down." - The Guardian
- Holger Schmieding, economist at Bank of America:
"With GDP above consensus, there is probably still a 65 percent chance the MPC will do one further hike to 5.5 percent, but 5.75 percent looks highly unlikely on this evidence. It does suggest that the case for further rate hikes is not as solid as the market seemed to believe." - Reuters
Daily Trading Strategy - The Pound aka "Terminator" by MVDForex