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Special Webinar
Midweek Technical Outlook with Derek Sugalski
Expert: Derek Sugalski
Start: Wed, Feb 28, 17:00 GMT
Sponsored by: 
Type of Session: Webinar
Topics
- Upcoming news events as potential catalysts
- Technical summary of market developments
- Forecasting end of week directional bias and turning points
Current Session: Europe - U.S.
GBP/USD
Global FX Daily - European Edition - JPY continues to edge lower – more weakness likely in the short-term by Mellon Foreign Exchange
GBP has stabilised further helped by the solid CBI survey and yesterday's strong business investment data for Q3. GDP data is due today. Support on EUR-GBP is at 0.6685 and this should hold for now.
- Have a look at our advisor's latest USD comments
- Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
- Be up to date with the Latest Forex News
Other Topics for this Session:
Daily Market Overview - Lack of volume by Trader College
The Word of Majors - JPY: The bulls have aimed their focus at the 122.50 resistance by FXstreet.com
Wakeup Call on Forex Markets - EURJPY in New Highs After BoJ Rate Hike by Saxo Bank
Majors at a Glance
- EUR/USD
- Moves down below 1.3115
2/23/2007 11:14:03 AM - GBP/USD
- Continues to trade above 1.9560
2/23/2007 11:14:06 AM - USD/CHF
- Continues to trade around 1.2400
2/23/2007 11:14:15 AM - USD/JPY
- Moves down below 121.40
2/23/2007 11:14:15 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
BoJ Minutes
| Period | Time |
| February Meeting | Feb 26, 07:00 GMT |
- Tony Juste, FX Advisor at FXstreet.com:
"For those trading the Yen, the BoJ minutes are an important release, for they will give a hint on what the next move in interest rates may be, but above all, what are their real intentions with respect to the monetary policy in the mid-term." - FXstreet.com
Central Banks - Bank of Japan Review by FXstreet.com
Top Market Movers Review
UK GDP
| Date (GMT) | Actual | Cons. | Previous |
| Feb 23, 09:30 | 0.8% | 0.8% | 0.7% |
UK GDP growth continues apace, one more BoE rate hike seen by AFX News
UK economic growth continues apace, suggesting that the Bank of England will be forced to lift interest rates over the coming months, possibly as soon as March. In data out today, UK fourth quarter growth was confirmed at 0.8 pct from the previous quarter and at 3.0 pct from the same period a year ago.
[ Full Story ]- UK economy up by 0.8% in Q4 2006 - National Statistics
- UK's ONS Promises Fewer Revisions To Future GDP Data (Dow Jones)
- Pound dips briefly after unrevised UK GDP figures (AFX News)
- UK Q4 GDP quarterly GDP growth at 0.8 pct, fastest growth since Q2 2004 (AFX News)
- GDP grew 0.8% in the fourth quarter in the UK (FXstreet.com)
- Tony Juste, FX advisor at FXstreet.com:
"UK economy grew as expected, but that does not mean that overall data still points to a weak economy that could lose further pace with the rest of the industrialized countries if their currency remains as it is. Yes, the value of the British Pound may be the trouble for the economy in the years ahead." - FXstreet.com
Germany IFO
| Date (GMT) | Event | Actual | Cons. | Previous |
| Feb 23, 09:00 | IFO - Current Assessment | 111.6 | 112.0 | 112.8 |
| Feb 23, 09:00 | IFO - Expectations | 102.6 | 103.1 | 103.2 |
| Feb 23, 09:00 | IFO - Business Climate | 107.0 | 107.5 | 107.9 |
European Market Update - German IFO Data Falls Below Expectations in February by Trade The News
German IFO data for the month of February fell slightly below estimates on all fronts on signs that economic growth will slow. The IFO's Abberger said that a significant burden can be felt from the VAT hike, weakening retail sales.
[ Full Story ]- Ifo Business Climate Weakens Slightly - Ifo Institute
- German Feb Ifo Business Climate Falls To 107.0 (Dow Jones)
- German Feb Ifo business climate index falls to 107.0, misses consensus (AFX News)
- February German IFO falls to 107.0 (FXstreet.com)
- Tony Juste, FX advisor at FXstreet.com:
"IFO survey surprisingly down on the month, although I was not as optimistic as some analysts who even forecasted a reading above 109. However, the reading should not constitute, no matter what they say, a reason to hit the Euro, as it continues to show good momentum in the business confidence." - FXstreet.com