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Current Session: U.S.
EUR/USD
Mid-Day Forex Technical Report - Dollar Not Bothered by Disappointing Headline NFP by ActionForex.com
Despite edging higher to 1.3062, EUR/USD still failed to break through mentioned 1.3052/57 cluster resistance (38.2% retracement of 1.3364 to 1.2867 at 1.3057) decisively. Subsequent retreat has pushed EUR/USD to below 1.3001 minor support, indicating a temporary top should be formed and intraday bias now shifted back to the downside
- 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 - “Dollar Bull Ready to Flex?†by by FXCM
Foreing Exchange - EUR: Bullish outlook above 1.2950 support by Avantage Financial GMBH
FX Strategy - New yield forecasts by Danske Bank A/S
Currencies at a Glance
- EUR/USD
- Down to test 1.2965 support
2/2/2007 3:46:52 PM - GBP/USD
- Holds above 1.9665
2/2/2007 3:48:18 PM - USD/CHF
- Can't break past 1.2480 resistance
2/2/2007 3:48:44 PM - USD/JPY
- Supported by a trendline break, 120.50 seems to hold the key short term
2/2/2007 12:17:02 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
Euro Zone PMI
| Period | Previous | Consensus | Time |
| January | 57.2p | 56.5p | Feb 5, 09:00 GMT |
Friday Notes - January Euro Zone Services PMI by HVB Group
Notwithstanding the one point decline in the corresponding manufacturing index, we think that the January Services PMI will hold at 57.0. Indeed, the January services confidence as calculated by the European Commission increased to 20 from 19. Given that the Services PMI does not consider the retail sector, whose confidence might have been affected by the German VAT hike, a resilient number appears likely.
[ Full Story ]- Tony Juste, FX Advisor at FXstreet.com:
"European PMI should continue to show that the services sector remains the best sector in the united economy. It will be itneresting to see the actual data coming out as expectations are pretty high in current signs of economic downturn. If the number comes out below expectations, it could trigger some losses for the Euro, I do not foresee a positive surprise in any case." - FXstreet.com
Top Market Movers Review
U.S. Non-Farm Payrolls
| Period | Previous | Consensus | Actual |
| January (Number) | 206K | 150K | 111K |
| January (Rate) | 4.5% | 4.5% | 4.6% |
FX Instant Insight - Non-Farm Payrolls Falls Short of Expectation by FXCM
Non-Farm payrolls fell short of expectations for the month January rising by a mere 111K versus 150K expected. The unemployment rate rose from 4.5% to 4.6%. The report is not as dollar bearish as the initial reading reveals since the prior month's payrolls was revised upwards to 206K, washing out the disappointment in the report.
[ Full Story ]- Employment Situation Summary - U.S. Bureau of Labor Statistics
- January non Farm Payrolls 111K up, Unemployment also rose (FXstreet.com)
- Solid Jan Job Gain But Jobless Rate Ticks Up (Dow Jones)
- US January non-farm payrolls up 111,000, unemployment rate rises to 4.6 pct (AFX News)
- Soft jobs data boosts stocks, bonds; dlr dips (Reuters)
- Vote now in our FORUM POLL: Where do you think the market will go after NFP is released?
- Tony Juste, FX Advisor at FXstreet.com:
"Again, the Labour department plays its own game by posting worse-than-expected NFP numbers but correcting previous month's and overall result is pretty neutral. I would say that in general terms that is what I think of the news, neutral, with one good and one bad tick: the positive side is that earnings grew less than expected and that is good for inflation, but the unemployment rate was higher than expected, and the annual job growth is also far from expectations." - FXstreet.com