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What moves currencies?
Expert: Tony Juste
Start: Thu, Jan 18, 11:00 GMT
Sponsored by: 
Type of Session: Webinar
Topics
- What could drive the markets?
- What is the expected data?
Current Session: Europe - U.S.
USD/JPY
Daily Forex Technical Report - Yen Edges Lower on BoJ Speculations but Traders Remain Cautious by ActionForex.com
USD/JPY edges further higher to 120.85 but upside momentum is unconvincing with 4 hours MACD staying below signal line and bearish divergence condition in 4 hours RSI. Nevertheless, intraday bias will still be on the upside as long as USD/JPY stays above 120.20 minor support and further rise should be seen towards next upside target of 121.38 resistance (05 high).
- 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:
Forex Daily Analysis - Busy Calendar For The US And Euro-Zone by ForexYard
Global FX Daily - European Edition - JPY vulnerable with BoJ rates to stay on hold by Mellon Foreign Exchange
Wakeup Call on Forex Markets - Focus on BoJ Meeting and US PPI by Saxo Bank
Majors at a Glance
- EUR/USD
- Trades around 1.2925
1/17/2007 11:24:24 AM - GBP/USD
- Continues to move up above 1.9650
1/17/2007 11:27:31 AM - USD/CHF
- Continues to trade above 1.2475
1/17/2007 11:29:19 AM - USD/JPY
- Trades around 120.50
1/17/2007 11:31:40 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
U.S. PPI
| Period | Previous | Consensus | Time |
| December (MoM) | 1.3% | 0.1% | Jan 17, 13:30 GMT |
| December (YoY) | 1.8% | 2.1% | Jan 17, 13:30 GMT |
Economic Release Alert - US Producer Prices Bolsters Inflation Expectations by FXCM
US core producer prices likely slowed their torrid pace through the month of December, but a more favorable base month will take the Year-on-Year inflation rate to its highest in over a year. Fast declining oil prices likely left the headline year-end rate at a meager 0.7 percent, but rising automobile and light trucks prices probably kept the more closely watched core measure higher.
[ Full Story ]Wakeup Call on Forex Markets - Focus on BoJ Meeting and US PPI by Saxo Bank
U.S. TICS
| Period | Previous | Consensus | Time |
| December (Net Long-term) | 82.5B | 82.3B | Jan 17, 14:00 GMT |
| December (Net Total) | 62.2B | Jan 17, 14:00 GMT |
Daily Fx Strategy - Industrial production seen offsetting TICS by CMC Markets NY
Similarly, we expect the TICS report to show a sharp decline in net capital inflows to as low as $30 billion November following $62.2 bln in October mainly as a result of the dollar's 4.0% November slump. The data may likely destabilize the US currency, but industrial production could provide renewed stability.
[ Full Story ]- Tony Juste, FX Advisor at FXstreet.com:
"TICS data likely to improve and show that the appetite for US securities is at healthy levels. With the US trade gap narrowing and capital inflow increasing, US woes on deficit offsetting are likely to be parked away for the time being." - FXstreet.com
U.S. Industrial Production
| Period | Previous | Consensus | Time |
| December | 0.2% | 0.1% | Jan 17, 14:15 GMT |
Friday Notes - Industrial sector losing momentum by HVB Group
The warmest December since record-keeping started in the 1890s means gas & electricity output plunged. Factory closings for the holidays seem to get longer, and the seasonal adjustments may not be keeping pace. Thus, a relatively weak IPI is likely, along with an overall decline in capacity utilization.
[ Full Story ]Top Market Movers Review
Euro Zone CPI
| Period | Previous | Consensus | Actual |
| December (MoM) | 0% | 0.4% | 0.4% |
| December (YoY) | 1.9% | 1.9% | 1.9% |
Inflation remains at 1.9% in the Eurozone by FXstreet.com
Inflation in the Eurozone remains stable at 1.9% on the yearly basis in line with the ECB's target for price stability, even though somewhat higher than October's 1.6%, according to data released by Eurostat. Consumer prices have increased 0.4% on the month while core inflation remained stable at 1.5% yearly. This level being a signal of controlled underlying inflationary pressures.
[ Full Story ]- Euro area annual inflation stable at 1.9% - Eurostat [PDF, 128Kb]
- Euro zone Dec HICP up 1.9 pct yr-on-yr, unchanged vs provisional (AFX News)
- Tony Juste, FX Advisor at FXstreet.com:
"Inflation, what inflation? Eurozone CPI is not yet the threat policy makers would like to have, and it is still contained below the 2% mark. The gap remains above the 1% mark, and that will add pressure to the ECB not to rush in raising interest rates too soon." - FXstreet.com
UK Unemployment
| Period | Previous | Consensus | Actual |
| November (Rate) | 3.0% | 3.0% | 3.0% |
| November (Change) | -5.7K | -4.0K | -5.5K |
Jobless claims decrease larger than expected in the UK by FXstreet.com
December Jobless claimant change has decreased longer than expected, for the third month inn a row as the latest report from the British Statistics Office. The jobless claimant number decreased by 5.500 last month, somewhat above the expectations of the experts who forecasted a 4.000 drop in jobless claims. The unemployment rate remains unchanged in the 3.0% of the workforce.
[ Full Story ]- Employment Rate at 74.6% in 3 months to Nov 2006 - National Statistics
- UK claimant count falls for third months running, earnings remain subdued (AFX News)
- Tony Juste, FX Advisor at FXstreet.com:
"Unemployment figures continue to show that UK economy is in a healthy tone and we have not seen (yet) the impact of the recent rate hike. The 3.month average continues to be on target and this just adds strength to an already pretty strong Pound across the board." - FXstreet.com