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Current Session: Europe - U.S.
GBP/USD
Daily Technical Analysis - EUR: we remain within the same small trading band for five consecutive weeks by Mizuho Corporate Bank
Very difficult as we continue to trade randomly in a well-established broad trading range. Yesterday's ‘doji' might just lead to a rally back up to 1.9600. Over the coming week/fortnight we favour yet another upside test of 1.9700/1.9750.
- 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 - German Q4 GDP beat expectations, will Euro-zone Q4 GDP do the same? by ForexYard
Daily Trading Strategy - As expected the G7 effect was 0 by MVDForex
Daily Forex Commentary - JPY: A second chance by Jyske Bank
Majors at a Glance
- EUR/USD
- Moving up toward 1.3000
2/13/2007 11:27:45 AM - GBP/USD
- Drops below 1.9425 after UK economic news
2/13/2007 11:29:20 AM - USD/CHF
- Moving down below 1.2495
2/13/2007 11:30:54 AM - USD/JPY
- Trades around 121.40
2/13/2007 11:32:14 AM
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - GBP/USD
**Source : CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading Ltd. , Mizuho Corporate Bank
[ View ASI page ] [ View GBP/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP JPY, Hourly
Top Market Movers Preview
U.S. Trade Balance
| Period | Previous | Consensus | Time |
| December | -58.2B | -59.5B | Feb 13, 13:30 GMT |
Friday Notes - Trade deficit improvement not permanent by HVB Group
Imports had eased because of falling oil prices and a decline in demand for building materials and other intermediate inputs. That likely changed in December, as oil prices briefly rebounded and non-residential construction did better. On the export side, the bunching in Boeing shipments reportedly tapered off.
[ Full Story ]Morning Market Comment - Yen bounces off lows, Dollar eyes Trade Balance by FX Money Trends
Top Market Movers Review
Germany ZEW Economic Sentiment
| Period | Previous | Consensus | Actual |
| February | -3.6 | +10.0 | +2.9 |
German ZEW Econ Sentiment Rises To +2.9 In Feb by Dow Jones
German business expectations brightened further in February, although by less than expected, signaling a pickup in economic growth in around six months time, a survey from the Center for European Economic Research, or ZEW, showed Tuesday.
[ Full Story ]- Experts are increasingly relaxed - ZEW
- German ZEW economic sentiment index rises in January (FXstreet.com)
- German ZEW index rises to +2.9 pts in Feb vs minus 3.6 in Jan (AFX News)
- Wolfgang Franz, ZEW president:
"Luckily, the development of the indicator signals that the dampening effect of the value-added tax (VAT) increase is mainly a temporary phenomenon according to the financial experts." - AFX News
Euro Zone GDP
| Period | Previous | Consensus | Actual |
| 4Q (MoM) | 0.5% | 0.5% | 0.9% |
| 4Q (YoY) | 2.7% | 2.9% | 3.3% |
European Market Update - Preliminary GDP Figure Reach Multi-Year Highs In Europe by Trade The News
Advanced GDP in the Euro-Zone also climbed to a multi-year high, reaching its highest level since December of 2000 on a Y/Y basis. Economic growth increased as unemployment fell and consumer spending rose.
[ Full Story ]- Euro area and EU25 GDP up by 0.9% - Eurostat
- Euro zone provisional Q4 GDP up 0.9 pct from Q3; consensus up 0.5 (AFX News)
- EU Forecasts 3Q 07 Euro-13 GDP To Grow +0.3-0.9% (Dow Jones)
- France 4Q GDP +0.6%-0.7% On Quarter, +2% On Year (Dow Jones)
- German Q4 preliminary GDP growth 0.9 pct vs Q3; above consensus (AFX News)
- Euro zone Dec industrial output up 1.0 pct from Nov, up 4.0 yr-on-yr (AFX News)
- Ian Gunner, head of currency research at Mellon Bank:
"Strong GDP figures certainly support euro zone rate expectations." - Reuters
UK CPI
| Period | Previous | Consensus | Actual |
| January | 0.6% | -0.5% | -0.8% |
UK CPI Inflation Retreats In January by Dow Jones
U.K. consumer price index inflation retreated from the previous month's record high levels, but maintained a strong rate of annualized growth in January, data from the Office of National Statistics Tuesday showed. The CPI annual rate was 2.7% last month, down sharply from 3.0% in December.
[ Full Story ]- Transport costs lower CPI inflation to 2.7 per cent - National Statistics
- Consumer prices decreased in January in the UK (FXstreet.com)
- UK Jan annual CPI 2.7 pct vs 3.0 in Dec; biggest fall since Jan 2003 (AFX News)
- UK Jan Consumer Prices Index Table Of Data (Dow Jones)
- Pound slumps as UK inflation moderates; euro firmer on robust GDP (AFX News)
- Tony Juste, FX Advsor at FXstreet.com:
"UK CPI suggests the BoE will not go with further tightening policy at least for the time being, as it has clearly come out below expectations and that was negatively taken by the market, even I would say that the market punished the GBP as a response to what they now think as a 'too tight' policy that could even hurt the British economy." - FXstreet.com
- Howard Archer, chief economist at Global Insight:
"This is a much more benign set of inflation data than expected, which will be of major relief to the Bank of England." - BBC News