Wednesday, Jan 31, 17:57 GMT
ASIA-PACIFIC Trading Newsletter
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NEXT SPECIAL WEBINARS
SPECIAL EVENT: Trade Non-Farm Payrolls LIVE - 9th Edition
Expert: Wayne McDonell
Start: Fri, Feb 2, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
Current Session: U.S.
GBP/USD
Mid-Day Forex Technical Report - Dollar Firm after Strong GDP Growth, Awaiting Upbeat FOMC Statement by ActionForex.com
Cable's recovery from 1.9545 was limited at 1.9695 and falls sharply today, reaching as low as 1.9480 so far, pressing mentioned rising trend line support (1.8517 to 1.8834, now at 1.9480) now. Break of 1.9545 low indicates fall from 1.9913 has resumed.
- 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 - USD Lower Ahead of Heavy US Data by Saxo Bank
Daily Forex Forecast - Daily Forex Forecast by FXDream
Daily Technical Briefing - Greenback Make or Break Time by FXCM
Currencies at a Glance
- EUR/USD
- Trades around 1.2950
1/31/2007 2:32:43 PM - GBP/USD
- Moves down to trade around 1.9500
1/31/2007 2:33:53 PM - USD/CHF
- Continues to trade below 1.2550
1/31/2007 2:35:13 PM - USD/JPY
- Moves up above 121.50
1/31/2007 2:36:33 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
U.S. Fed Meeting
| Previous | Consensus |
| 5.25% | On Hold |
Central Banks - Fed Meeting Preview by FXstreet.com
U.S. Government is still worried about inflation, but it's not probable that a rate hike is given on the 30th January's Meeting. The last hike was seen on June '06 when they hiked to the actual 5.25%.
Top Market Movers Review
Chicago PMI
| Period | Previous | Consensus | Actual |
| January | 51.6 | 52.2 | 48.8 |
Chicago PMI, weaker than expected by FXstreet.com
The Chicago Purchasing Management Index has dropped to a level of 48.8 in January from 51.6 in December, when the consensus forecast was for a slight increase.
- Table Of Data From US Chicago Purch. Managers' Report (Dow Jones)
- Chicago PMI Falls Below 50 In Jan, Showing Contraction (Dow Jones)
- Tony Juste, FX Advisor at FXstreet.com:
"This was bad. After good numbers from the GDP release, we jsut got tihs massive shock the market does not know how to digest. It appeared to be a good day for the FOMC with good growth numbers but if the Manufacturing sector enters into recession (and the reading shows clearly that status) the room for growth is very limited, so the tone of the Fed I presume will be far less optimistic than they would've desired." - FXstreet.com
U.S. GDP
| Period | Previous | Consensus | Actual |
| 4Q | 2.0% | 3.0% | 3.5% |
Mid-Day Forex Technical Report - Dollar Firm after Strong GDP Growth by ActionForex.com
Dollar remains firm in early US session after stronger than expected Q4 GDP report that showed the US economy grew faster than expected by 3.5%, up from 2.0% in Q3. This was well above consensus expectation of 2.9%. The improvements was mainly due to strong consumption, exports and governments spending that offset the negative contributions from housing and inventories.
[ Full Story ]- Gross Domestic Product - U.S. Department of Commerce
- U.S. GDP growth, larger than expected in the 4th quarter; Personal Consumption also up (FXstreet.com)
- US Q4 GDP up 3.5 pct vs 3.0 expected, PCE price index down 0.8 pct (AFX News)
- Markets see Fed on hold after strong GDP (Reuters)
- Tony Juste, FX Advisor at FXstreet.com:
"The unexpected (even the optimists were not targeting any reading above 3%) rise in GDP provides the Fed with ample room to maintain its (semi)hawkish attitude and definitely dismisses any opportunity for the bears to take control of this situation. I do favor a hawkish tone by the Fed from here, provided their inflation analysis continues to pose a real threat to the economy." - FXstreet.com