Tuesday, Jan 16, 12:14 GMT
U.S. Trading Newsletter
To Get Started
- FOREX FORUM: Post your comments and share your opinions with fellow traders
- Check out the rest of our newsletters and subscribe now!
- The Education Section: For all kind of traders
- Ed Ponsi's DVD: Trading Strategies For The Forex Market
Send us your feedback. Post your comments about the new newsletters' format in the Forum.
SUBSCRIBE TO NEXT WEBINAR
What moves currencies? - Trade Balance in sight
Expert: Tony Juste
Start: Wed, Jan 17, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
Topics
- The importance in the exchange rate
- Posible market implications
Current Session: Europe - U.S.
USD/JPY
Daily Forex Commentary - FX – Flames to dust? by Jyske Bank
With the BoJ meeting closing in on us (Thursday ) we should not expect much action in the yen until then. USD/JPY is clearly in the midst of finding a footing above 120. We still foresee a return to 121.40 and subsequently 122 – so patience is recommended still.
- 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:
Wakeup Call on Forex Markets - Markets focus on ZEW by Saxo Bank
Forex Daily Analysis - Fed Funds Futures traders gave up their hopes for an early 2007 rate cut by ForexYard
Daily Technical Analysis - EUR: The Euro continues at the bottom of the Ichimoku ‘cloud’ by Mizuho Corporate Bank
Majors at a Glance
- EUR/USD
- Moves up above 1.2975
1/16/2007 11:18:22 AM - GBP/USD
- Trades above 1.9650
1/16/2007 11:19:54 AM - USD/CHF
- Continues to move down below 1.2450
1/16/2007 11:21:02 AM - USD/JPY
- Trades around 120.25
1/16/2007 11:22:38 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
Bank of Canada Rate Decision
| Previous | Consensus | Time |
| 4.25% | On Hold | Jan 16, 14:00 GMT |
Economic Release Alert - Bank of Canada Rate Decision by FXCM
An overwhelming consensus among economists forecasts the Bank of Canada's monetary policy group to pass on changing rates once again. Governor David Dodge and the other policy makers at the central bank have sat on making any changes to the overnight lending rate since May of last year as members judged the risks as relatively 'balanced.'
[ Full Story ]Top Market Movers Review
Germany ZEW
| Period | Previous | Consensus | Actual |
| January | -19p | -13p | -3.6p |
German ZEW Economic Sentiment Index beats expectations by FXstreet.com
The sensations of the German entrepreneurs about their economy in January are much brighter than the economists had expected, seen the result of the Economic Sentiment Survey published by the ZEW private institute.
[ Full Story ]- ZEW Indicator of Economic Sentiment: With momentum into the new year - ZEW
- Germany's January ZEW index rises more than expected to minus 3.6 pts (AFX News)
- Read Tony Juste's opinion at The Advisor's blog: UK CPI and German ZEW in the menu for today
- Tony Juste, FX Advisor at FXstreet.com:
"ZEW survey shows businesses have greater confidence in the economy than the month before, but still it presents a negative reading, so one needs to be cautious when interpreting data. Business confidence in the Eurozone is still weak, and nothing to play fireworks with. The Euro has taken the news positively and has risen to meet resistance @ 1.2985." - FXstreet.com
UK CPI
| Period | Previous | Consensus | Actual |
| December (CPI YoY) | 2.7% | 2.9% | 3.0% |
| December (RPI YoY) | 3.9% | 4.3% | 4.4% |
Record jumps for UK December CPI and RPI by FXstreet.com
Consumer Prices Index have grown 0.6% in December from November and 3.0% on the year, the highest increase on record, while the Retail Price Index has recorded its biggest jump since August 1991, as the latest report by the Office for national Statistics show.
[ Full Story ]- Dec: CPI at record 3.0%, RPI at 4.4% - National Statistics
- UK annual CPI inflation jumps to 3.0 pct in Dec, highest in a decade (AFX News)
- Back-on-back UK rate hike possible after inflation surge (AFX News)
- Pound slips slightly as UK CPI data fails to trigger King letter (AFX News)
- Tony Juste, FX Advisor at FXstreet.com:
"BoE comments on inflation, and the interest rate hike that followed, have proven to be accurate as inflation hits a new all-time high (since records began) in UK. Both the overall and the retail prices have jumped above dealers expectations. However, the GBP is not adding much to its recent gains, in what clearly is a 'buy the rumor, sell the fact' story." - FXstreet.com
- David Page, analyst at Investec Securities:
"The CPI figure is worse than the market consensus and probably gives the reason why the Bank of England raised interest rates last week." - AFX News
- James Knightley, strategist at ING Financial Markets:
"Given evidence suggesting that wage rises are picking up, there remains the real risk that the Bank of England will hikes rates again. We would expect any move to come in the next two months." - BBC News