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Current Session: U.S.
GBP/USD
FX Thoughts for the Day - FX Thoughts for the day - Evening - 14-Feb-2007....1237 GMT by Kshitij Consultancy Service
The Cable had a sharp rally during the day to a high of 1.9566 and with that the pair has broken its sequence the lower lows and lower highs which was present for the last four days. Now for today the important Resistance for the pair would come in at 1.9591, the 200-MA on the 4-Hourly.
- Our FX Advisor's Intraday comment on GBP and other major crosses
- Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
Other Topics for this Session:
Global FX Daily - U.S. Edition - US retail sales and Bernanke testimony feature today by Mellon Foreign Exchange
Forex Trading Strategies - Retail Sales and Bernanke in Focus by Saxo Bank
Daily Technical Briefing - Dollar Loses Handle – Multi Week Dollar High Likely In Place by FXCM
Currencies at a Glance
- EUR/USD
- Continues to trade around 1.3090
2/14/2007 1:45:24 PM - GBP/USD
- Trades around 1.9550
2/14/2007 1:47:41 PM - USD/CHF
- Trades around 1.2430
2/14/2007 1:49:24 PM - USD/JPY
- Continues to trade around 121.00
2/14/2007 1:50:57 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
Japan GDP
| Period | Consensus | Previous | Time |
| 4Q (QoQ) | 0.9% | 0.2% | Feb 14, 23:50 GMT |
| 4Q (Annualized) | 3.8% | 0.8% | Feb 14, 23:50 GMT |
| 4Q (Deflator) | -0.5% | -0.7% | Feb 14, 23:50 GMT |
- Tony Juste, FX Advisor at FXstreet.com:
"Japan's GDP data is key to measure the what the next move of the BoJ will be, and will show who was right re: the Japanese economy, ie, japanese officials who tried hard to convince the markets the economy was not growing at a good level yet, or the coallition led by the Germans whoa rgue that the weakening of the JPY does not reflect actual fundamentals, and bowed for Japan to give some strength to its own currency. It probably is the data to watch overnight, as I expect volatility to pick up in yen crosses and definitely the topic to watch when Europe comes back to the desks in the morning." - FXstreet.com
Top Market Movers Review
Bernanke Testifies Before U.S. Senate
Inflation slowing will take time, according to Bernanke by FXstreet.com
Ben Bernake, chairman of the Federal Reserve, affirmed that although he does not feel at ease with current interest rate levels, he is ready to carry on with the tightening policy, if needed, in order to dampen inflation.
- Testimony by Chairman Bernanke on Board's semiannual Monetary Policy Report - Federal Reserve
- Fed chairman optimistic about economy (AFX News)
- Fed cuts US GDP forecast for 2007 (AFX News)
- Dollar Slides On Bernanke Comments (Dow Jones)
U.S. Retail Sales
| Period | Consensus | Previous | Actual |
| January (MoM) | 0.3% | 0.9% | 0% |
| January (ex Autos) | 0.3% | 1.0% | 0.3% |
U.S. Retail Sales disappoint in January by FXstreet.com
Retail Sales came weaker than expected in January since declining sales for cars, gasoline and electronic shadowed the good figures of clothing and home improvement stores.
[ Full Story ]- U.S. International trade in goods and services - U.S. Department of Commerce [PDF, 396k]
- US January retail sales unchanged, sales excluding autos up 0.3 pct (AFX News)
- US Jan Retail Sales Below Expectations (Dow Jones)
- Dollar Slips Modestly Following January Retail Sales Data (Dow Jones)
- Tony Juste, FX Advisor at FXstreet.com:
"Retail Sales figures confirm the slowdown in the US economy, and prevent the hawks from claiming for more rate hikes. I basically take the data as a good sign for the next Fed meeting, where the most we will see is rates on hold. However, it is also worth mentioning that core data (that excluding autos) was better than expected, showing that the automobile sector is struggling to move forward in this changing environment." - FXstreet.com