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Current Session: Europe - U.S.
GBP/USD
Bank Recomendations - Deuche Bank, SOCIETE GENERALE, UBS by Finotec Group Inc.
GBP USD (1.9650) The BOE governor gave an even clearer indication of the upward direction of interest rates than his counterpart at the ECB yesterday. This was one of the factors that helped Cable to gain one percent. But to trigger a bullish outcome (2.0170), resistance at 1.9685 must be overtaken.
- Take a look at our advisor's comments on the latest GBP moves
- Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
Other Topics for this Session:
Daily Trading Strategy - Bernanke prepares the world by MVDForex
Daily Trade Analysis - Over-bought EURUSD looking to target 1.3200 level by AMZ Capital
Daily Technical Analysis - EUR: Next target: 1.3300 by Mizuho Corporate Bank
Majors at a Glance
- EUR/USD
- Continues to trade around 1.3135
2/15/2007 10:08:41 AM - GBP/USD
- Drops below 1.9600 after UK Jan Retail Sales data
2/15/2007 10:09:57 AM - USD/CHF
- Trades around 1.2375
2/15/2007 10:11:12 AM - USD/JPY
- Moves up above 120.20
2/15/2007 10:12:14 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 USD, Hourly
Top Market Movers Preview
U.S. Industrial production
| Period | Consensus | Previous | Time |
| January | 0% | 0.4% | Feb 15, 14:15 GMT |
Friday Notes - Pockets of weak output remain by HVB Group
Hours worked in manufacturing dropped in January, a hint that the manufacturing side of the industrial production index softened. Utilities were bound to post better figures, however, as winter arrived. On balance, a modest rise in the IPI is likely.
[ Full Story ]Top Market Movers Review
UK Retail Sales
| Period | Consensus | Previous | Actual |
| January (MoM) | 0.2% | 1.1% | -1.8% |
| January (YoY) | 5.4% | 4.0% | 3.3% |
European Market Update - Jan UK Retail Sales Fall to Lowest Level in Four Years by Trade The News
January retail sales in the UK fell well below estimates to -1.8% m/m, dropping to its lowest level since January of 2003, while retail sales were 3.3% y/y, below estimates of 5.4%. The drop in retail sales was led by a drop in clothing and electrical goods sales.
[ Full Story ]- Underlying growth slows in January - National Statistics
- UK Jan retail sales slump by 1.8 pct from Dec, biggest monthly fall in 4 yrs (AFX News)
- UK Retail Sales bust in January (FXstreet.com)
- UK Jan Retail Sales -1.8% On Mo, +3.3% On Yr (Dow Jones)
- Pound slips after surprisingly weak January retail sales (AFX News)
- Tony Juste, FX Advisor at FXstreet.com:
"Retail Sales figures confirm my fears that the BoE may have gone too far in tightening the monetary policy, as domestic spending could start to struggle. Well, we had a first proof of that and that should calm the hawks surrounding the MPC, as it is clear that the damage that a further tightening could have in the economy could be important." - FXstreet.com
- Amit Kara, economist at UBS:
"If you take the two months together, the outcome (UK Retail Sales) is a lot more benign. Although higher interest rates could dampen spending further out." - Reuters
- Jim Dodgin, analyst at Thomson IFR Markets:
"With buyers finally building on this push higher there is reason to think that things have turned the corner, in the short term at least." - AFX News