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24 hour Outlook
Expert: John Putman
Start: Thu, Jan 11, 18:00 GMT
Sponsored by: 
Type of Session: Webinar
Topics
- GBP/USD, etc.
- EUR/USD
Current Session: Europe - U.S.
EUR/USD
Global FX Daily - European Edition - USD remains firm, but EUR-USD is retaining some support ahead of today’s ECB meeting by Mellon Foreign Exchange
While Trichet's conference may offer some initial relief for EUR-USD, corrective pressure looks like being all-powerful in the short-term and a move towards 1.2800 is favoured. Tomorrow's US retail sales data (and the risk of a sharp pullback to November strength) is more of a risk to USD strength and EUR-USD 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:
Technical Summary for Majors - Technical Summary for Majors by Windsor Brokers Ltd
Daily Technical Analysis - EUR: The Euro is more oversold than it has been since mid-October by Mizuho Corporate Bank
FXA Technical Commentary - Eur/$, chance to buy ? by FXA
Majors at a Glance
- EUR/USD
- Moves up above 1.2950
1/11/2007 11:30:13 AM - GBP/USD
- Moves up above 1.9375
1/11/2007 11:32:30 AM - USD/CHF
- Moves up toward 1.2475
1/11/2007 11:35:13 AM - USD/JPY
- Continues to move up 120.25
1/11/2007 11:37:16 AM
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
UK Leading Indicators
| Period | Previous | Time |
| November (MoM) | -0.1% | Jan 11, 15:30 GMT |
- Tony Juste, FX Advisor at FXstreet.com:
"Leading indicators in the UK could show (let's keep in mind they try to anticipate what will happen in the next 3 months) that the start of a reversal in trend is just about to happen, and that the economy could be reaching struggling point. With BoE raising interest rates and a widening trade deficit, data could just be a warning to the market." - FXstreet.com
Top Market Movers Review
ECB Interest Rate Decission
| Previous | Movement |
| 3.5% | On Hold at 3.5% |
ECB leaves interest rates unchanged at 3.5% by FXstreet.com
he European Central Bank's Monetary Policy Committee has decided to leave all key rates unchanged at 3.5% after their monthly meeting. All the views are now at Trichet's press conference due at 13:30 GMT to see whether Trichet will use the vigilance code to signal a rate hike in February or not.
[ Full Story ]- Monetary policy decisions - ECB
- ECB leaves rates unchanged (AFX News)
- Holger Schmieding, chief economist for Europe at Bank of America:
"We continue to expect the ECB to raise rates to 3.75 percent in March... and reach a peak of 4.25 percent in early 2008." - The Washington Post
BOE Interest Rate Decission
| Previous | Movement |
| 5.0% | +25bp to 5.25% |
UK: Boe Shocks with rate hike to 5.25% by FXCM
In a surprise move Bank of England raised rate by 25 basis points to 5.25% stating that "growth continues at a firm pace" and risks to inflation appear more to the upside. The UK economy has shown remarkable resiliency over the past several months as the consumer sector led by a strong rebound in retail sales firm labor market and near double digit increase in housing has provided a solid base for economic growth.
[ Full Story ]- The Bank of England raises rates to 5.25% (FXstreet.com)
- BoE hikes key repo rate 0.25 pct to 5.25 pct (AFX News)
- GLOBAL MARKETS-Surprise BoE hike hits bonds, stocks; sterling up (Reuters)
- BoE hikes key repo rate 0.25 pct to 5.25 pct UPDATE (AFX News)
- BoE's rate hike 'regrettable' - BCC (AFX News)
- BoE's decision to raise interest rates 'disappointing' - CBI (AFX News)
UK Industrial Production
| Period | Previous | Consensus | Actual |
| November | -0.8% | 0.3% | 0.5% |
UK Industrial Production increased in November; Manufacturing Output also up by FXstreet.com
Industrial Production has improved by 0.5% in November and 0.8% in the last twelve months, as the latest report by the Office for National Statistics show.
[ Full Story ]- Index of Production: Manufacturing: 0.1% three-monthly rise - UK National Statistics
- UK manufacturing posts first rise in three months during Nov (AFX News)