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Current Session: Europe - U.S.

EUR/JPY

Global FX Daily - U.S. Edition - EUR-USD leads the way in Europe / BoC policy announcement by Mellon Foreign Exchange

The Bank of Canada policy announcement is the main feature and the market is looking for a 25bp rate hike. The BoC signalled at its last meeting on May 29 that a rate hike may be necessary, but most of the domestic economic data has been a little disappointing since then. In contrast, the US data, which the BoC also monitors, has been improving. The levels of importance remain the same on EUR-USD – 1.3683 on the topside, 1.3555 and 1.3450-85 on the downside. Cable positive momentum looks like being maintained as long as it can stay above 2.0100-20 – key level on the upside is the recent high at 2.0208.

[ Full Story ]

Other Topics for this Session:

Technical Analysis Special - EUR/CAD by Mizuho Corporate Bank

Forex Technical Report - Forex Technical Report USD/CHF by iFOREX.bg

European Forex Recap by FX Solutions

Majors at a Glance

EUR/USD
Moves up above second support level 1.3596
07/10/2007 10:18 GMT
GBP/USD
Moves up above pivot level 2.0139
07/10/2007 10:19 GMT
USD/CHF
Moves down below second support level 1.2132
07/10/2007 10:19 GMT
USD/JPY
Moves down below first support level 123.18
07/10/2007 10:20 GMT

Analyst Sentiment Index (ASI)

Analysts Sentiment Index - EUR/USD


EUR

**Source : ActionForex.comCMS ForexDanske Bank A/SFinotec Group Inc.FXstreet.comGlobal Forex Trading Ltd. Mizuho Corporate Bank

[ View ASI page ] [ View EUR/USD page ]

Charting the Market Movers

EUR USD, Hourly


EUR/USD

GBP USD, Hourly


GBP/USD

Top Market Movers Preview

Canada BOC INTEREST RATE ANNOUNCEMENT

Date (GMT)EventCons.Previous
Jul 1013:00BoC Interest Rate Announcement4.50%4.25%

Global FX Daily - U.S. Edition - BoC policy announcement features by Mellon Foreign Exchange

The Bank of Canada policy announcement is the main feature and the market is looking for a 25bp rate hike. The BoC signalled at its last meeting on May 29 that a rate hike may be necessary, but most of the domestic economic data has been a little disappointing since then.

[ Full Story ]

Daily Forex Technical Report - Dollar in Tight Range ahead of Bernanke, BoC Rate Hike Expected by ActionForex.com

The Currency Futures Report - Canadian Dollar 'Higher' on Expected Rate Increase by Alaron

Top Market Movers Review

UK TRADE BALANCE

Date (GMT)EventActualCons.Previous
Jul 1008:30Trade Balance-£6.29B-£6.55B-£6.32B

DATA SNAP: UK May Trade Deficit Narrows On Higher Exports (Dow Jones)

The U.K.'s goods trade deficit narrowed to its lowest level for a year and a half in May, as total exports rose sharply on the month. The Office for National Statistics said Tuesday the U.K.'s overall goods trade deficit was GBP6.3 billion in May.

[ Full Story ]

Economic Events

Date (GMT)CountryEventActualCons.Previous
Jul 1001:30AU National Australia Bank's Business Conditions (Jun) 1617
01:30AU National Australia Bank's Business Confidence (Jun) 1515
06:45FR Industrial Production (MoM) (May) 0.4%0.7%-0.8%
08:30UK Trade Balance (May) Â£-6.29B-£6.55B-£6.32B
12:15CA Housing Starts (YoY) (Jun) 215.0229.7K
13:00CA BoC Interest Rate Announcement 4.50%4.25%
14:00US Wholesale Inventories (May) 0.4%0.3%
23:50JP Domestic Corporate Goods Price Index (MoM) (Jun) 0.2%0.5%
23:50JP Domestic Corporate Goods Price Index (YoY) (Jun) 2.4%2.2%
23:50JP Trade Balance (May) Â¥527.2BÂ¥1034.2B
[ View All ]
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