Thursday, Feb 08, 08:35 GMT
EUROPEAN Trading Newsletter
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Special Webinars
ECB Policy in 2007
Expert: Joseph Trevisani
Start: Thu, Feb 8, 14:00 GMT
Sponsored by: 
Type of Session: Webinar
Topics
- Factors European interest rate policy
- ECB anti-inflation mandate play in rate policy
Trading Setups in the Crosses - Just for Premium Members
Expert: Richard Lee
Start: Wed, Feb 14, 15:00 GMT
Sponsored by: 
Type of Session: Webinar
The FX Trading Desk
Expert: Dave Floyd
Start: Wed, Feb 14, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
Topics
- Charts
- News releases
- Trading styles & techniques
Current Session: Europe
EUR/USD
Daily Market Commentary - The euro/yen was the rising star on Wednesday, as both the euro/dollar and dollar/yen rallied by Global Forex Trading Ltd.
Euro/dollar marched further on Wednesday and looks close to exiting the 38.2% to 61.8% consolidation area (1.2825 to 1.3030). The initial bias is still bullish. Initial resistance remains at 1.3030. Above the four-week high of 1.3064, which was reached on Friday, the pair has strong resistance at 1.3080.
- 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:
US Trading Preview - The dollar slid further against the euro and sterling by Forexnews.com
Daily Analysis - Interest rate decisions from BOE and ECB ahead by Finotec Group Inc.
Daily Forex Strategy Briefing - Waiting for Monsieur Trichet by CMS Forex
Charting the Market Movers
EUR USD, Hourly
USD JPY, Hourly
Top Market Movers Preview
ECB and BoE meeting
| Bank | Previous | Consensus | Time |
| BoE | 5.25% | On Hold | Feb 8, 12:00 GMT |
| ECB | 3.50% | On Hold | Feb 8, 12:45 GMT |
Central Banks - ECB and BoE meeting preview by FXstreet.com
Market consensus is almost unanimous about the outcome of the two main European banks, the ECB and the BoE. Both of them will probably keep their respective interest rates unchanged at 3.50% (the ECB) and 5.25% (the BoE).
FOREX FORUM POLLS: vote and tell us your opinion!
Top Market Movers Review
Germany Trade Balance
| Period | Previous | Consensus | Actual |
| January | €18.3B | €16.0B | €10.8B |
German Dec Trade Surplus Narrowed To EUR10.8B by Dow Jones
In 2006, exports to euro-zone countries rose 11.5% on the year to EUR556.1 billion, while imports rose 14.4% to EUR459.1 billion. In the same period, exports to countries outside the E.U. rose 17.3% to EUR337.6 billion. Imports from these countries rose 20.3% to EUR272.6 billion.
[ Full Story ]- German foreign trade in 2006: Exports +13.7%; imports +16.5% - Destatis
- German trade surplus down to Eur 10.8 B (FXstreet.com)
- German Dec trade surplus 10.8 bln eur vs revised 18.3 bln in Nov (AFX News)
Australia Unemployment
| Period | Previous | Consensus | Actual |
| January | 4.6% | 4.6% | 4.5% |
Overnight Briefing: Far East Timezone - Australia's jobless rate hits new 30-year low by Jyske Bank
Australian employment dipped unexpectedly in January, but the jobless rate hit a new 30-year low of 4.5 %, keeping alive the risk that a lack of suitable labour will eventually generate wage and price pressures.
[ Full Story ]- Labour Force, Australia, Jan 2007 - Australian Bureau of Statistics
- Australia jobless rate falls to new 30-year low of 4.5 pct in Jan (AFX News)
- Australian Jan Unemployment Rate 4.5% (Dow Jones)