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Topics
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Current Session: Europe - U.S.
GBP/USD
Bank Recomendations - Deutche Bank, BNP PARIBAS, JP MORGAN by Finotec Group Inc
Commentators explained the BOE latest ‘unchanged' rate decision with yesterday's weaker-then expected UK CPI figures (to which the MPC is privey ahead of its release) in the same way that they justified the previous month's surprise hike with the 3 percent print. But this would imply that that BOE decision-making is based largely on the most recent inflation data, which is absurd.
- Take a look at our advisor's opinion about the reactions to the recent UK inflation report
- Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
Other Topics for this Session:
The Word of Majors - JPY: The market is looking toppish before the 122.50 resistance by FXstreet.com
Global FX Daily - European Edition - EUR-USD breaks above recent range highs in early European trading by Mellon Foreign Exchange
Forex Daily Analysis - Strong European Data Support The Euro by ForexYard
Majors at a Glance
- EUR/USD
- Trades around 1.3090
2/14/2007 11:12:13 AM - GBP/USD
- Moving up above 1.9550
2/14/2007 11:28:47 AM - USD/CHF
- Trades below 1.2430
2/14/2007 11:30:40 AM - USD/JPY
- Trades around 121.00
2/14/2007 11:32:37 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 USD, Hourly
Top Market Movers Preview
U.S. Retail sales
| Period | Consensus | Previous | Time |
| December | 0.3% | 0.9% | Feb 14, 13:30 GMT |
Friday Notes - Bargains cooled by return of winter by HVB Group
December was the warmest in over a hundred years, and bargain-hunters took advantage of deep discounts on electronics, autos, and other products. Early January was positive as well. But winter finally started around mid-month, and retailers posted mixed results. Also, auto makers reported weaker sales for the month.
[ Full Story ]Top Market Movers Review
BoE Inflation Report
BoE's King says outlook for inflation 'highly uncertain' over next year by AFX News
Bank of England governor Mervyn King highlighted that the outlook for inflation over the next year is "highly uncertain" due to the large cut in gas and electricity prices. His comments came after the central bank released its latest round of projections for inflation and growth.
[ Full Story ]- Inflation Report: February 2007 - BoE
- Read the opinion of our expert, Tony Juste, at the advisor's Blog: Bank of England hints at further rate rise
- BoE sees CPI annual inflation dropping under 2 pct target within 12 months (AFX News)
- Pound underperforms as BoE says it expects inflation to drop under 2 pct (AFX News)
- Tony Juste, FX Advisor at FXstreet.com:
"Bank of England inflation report is very hawkish, and highlights an imminent rate hike in the coming months. The tone used in the report suggest that the decision has already been taken, and they are preparing the market for that. However, UK citizens will not welcome any further tightening as credit costs will make domestic economy to struggle." - FXstreet.com
UK Unemployment
| Period | Consensus | Previous | Actual |
| January | 5.5% | 5.5% | 5.5% |
European Market Update - UK Jobless Claims Lowest Since May 2004 by Trade The News
In the UK the claimant count rate came in at 2.9% below estimates of 3.0%, while the jobless claims change was -13.5K, falling to its lowest level since May of 2004. The number of resident claiming jobless benefits fell to 925.8K as economic growth pushed companies to hire more employees.
[ Full Story ]- Rate falls 5.5% in 3 months to Dec 2006 - National Statistics
- UK Claimant Count Drops Sharply In January (Dow Jones)
- UK Average Earnings incl. bonus; 4.0% up in the three months to December (FXstreet.com)
- UK Jan claimant count falls 13,500 from Dec; Wage growth remains subdued (AFX News)
- Pound underperforms as BoE says it expects inflation to drop under 2 pct (AFX News)