Thursday, Jan 31, 12:10 GMT
U.S. Trading Newsletter
To Get Started
- Webinars VIDEOS: Raghee Horner's Four Step Trading: Forex by Raghee Horner
- Market reaction to FOMC rate decision by FXstreet.com
- Special Coverage: ADP & GDP by FXstreet.com
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Special Coverage: Central Banks − Fed
In its January 31 meeting the Fed has decided to cut its interest rate by 50bp, leaving the benchmark rate at 3%.
- Check the effect in our Rates and Charts Section
- Compare the movements in our World Interest Rates Table
Live Sessions Schedule
Weekly Technical Briefing
Expert: Dan Blystone
Start: Thu, Jan 31, 14:30 GMT
Type of Session: Webinar
How to Get Started Trading Forex
Expert: Steve Primo
Start: Thu, Jan 31, 16:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Jan 31, 12:00 GMT | Trading Currencies by Sector  | Adam Rosen | WBN |  |
| Thu, Jan 31, 13:00 GMT | US Pre−Market Open | Ed Ponsi | WBN | |
| Thu, Jan 31, 14:30 GMT | Weekly Technical Briefing | Dan Blystone | WBN | |
| Thu, Jan 31, 15:00 GMT | FOREX MASTERY − A Child's Play (Part 2) | Jay Lakhani | WBN | |
Current Session: Europe − U.S.
GBP/USD
Forex Technical Report − GBP/USD 1.9870 − 31 January by iFOREX.bg
GBP/USD Open 1.9836 High 1.9955 Low 1.9826 Close 1.9863.
First resistance for the Sterling today is yesterday's top 1.9960. Next is the top from 28 December at 1.2015, followed by 2.0060, where the 50 day crawling middle line passes. In downward direction support is expected at 1.9810, followed 1.9710, which is 37.8% correction of the climb 1.9340 − 1.9930.
- Commitment of Traders (COT) Indicator − Free Access Day by S. Wade Hansen, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
- Follow up the most relevant Economic Data in the new Real Time Economic Calendar
Daily Analysis − The Fed cut the rate again by 0.5% and leave the borrowing cost at 3.0% by Finotec Group Inc.
EUR/USD Daily Technical Forex − EUR/USD Daily Technical Forex by Stoploss.ch
Majors at a Glance
- EUR/USD
- Trades around opening price level 1.4860 , above pivot level 1.4839
01/31/2008 12:03 GMT - GBP/USD
- Moves up above first resistant level 1.9936
01/31/2008 12:04 GMT - USD/CHF
- Moves down below first support level 1.0783
01/31/2008 12:04 GMT - USD/JPY
- Moves down towards first support level 105.85
01/31/2008 12:05 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
EUR USD, Hourly
GBP USD, Hourly
Top Market Movers Preview
US CORE PERSONAL CONSUMPTION EXPENDITURE − PRICES INDEX
| Date (GMT) | Event | Cons. | Previous | |
| Jan 31 | 13:30 | Core Personal Consumption Expenditure − Prices Index (MoM) | 0.2% | 0.2% |
| Jan 31 | 13:30 | Core Personal Consumption Expenditure (QoQ) | - | 1.8% |
| Jan 31 | 13:30 | Core Personal Consumption Expenditure − Prices Index (YoY) | 2.2% | 2.2% |
US economic indicators - GDP growth in Q4 could have slowed down to about 1% qoq by BHF−Bank
As the PCE deflator could have risen by about 0.2% mom, real personal spending will have turned even more negative. The PCE core deflator is expected to have risen by 0.2% mom, leaving the annual rate stable at 2.2% – above the Fed's comfort zone.
[ Full Story ]Top Market Movers Review
UK GFK CONSUMER CONFIDENCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 31 | 10:30 | Gfk Consumer Confidence | -13 | -15 | -14 |
DATA SNAP: UK Consumer Confidence Stays Weak In January (Dow Jones)
Despite a marginal rise in the headline measure of confidence, U.K. consumer sentiment stayed weak in January. According to the results of a monthly survey released by London−based market research firm GfK NOP Thursday, the overall index of consumer confidence was stronger than expectations.
[ Full Story ]- Read the Consumer Confidence data at Gfk NOP
- UPDATE: UK Consumer Confidence Stays Weak In January (Dow Jones)
- UK GfK consumer confidence, practically unchanged at very low level in January (FXstreet.com)
- UK consumers remain downbeat in January − GfK NOP (Thomson Financial News)
EMU CONSUMER PRICE INDEX
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Jan 31 | 10:00 | Consumer Price Index (YoY) | 3.2% | 3.1% | 3.1% |
DATA SNAP: Euro−Zone Jan CPI Hits New High Of +3.2% On Yr (Dow Jones)
Prices in the euro zone surged in January, as a measure of the annual rate of consumer−price inflation in the region hit a new all−time high of 3.2%, diminishing the chances of any relaxation in the European Central Bank's interest rate policy.
[ Full Story ]- Read the report: Euro area inflation estimated at 3.2% at Eurostat
- UPDATE: Euro−Zone Jan CPI Highest Rate Since Euro Inception (Dow Jones)
- Euro zone Jan provisional HICP up 3.2 pct vs 3.1 in Dec (Thomson Financial News)
- Euro Zone CPI, estimated to have risen 3,2% year−on−year in January (FXstreet.com)
Friday Notes - More to come from Fed; ECB to follow by HVB Group
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Jan 31 | 09:00 | DE | Consumer Price Index (YoY) (Jan)  | 2.7% | 2.7% | 2.8% |
| 10:00 | EMU | Consumer Confidence | -12 | -10 | -9 | |
| 10:00 | EMU | Consumer Price Index (YoY) (Jan) | 3.2% | 3.1% | 3.1% | |
| 10:00 | EMU | Economic Confidence (Jan) | 101.7 | 104.1 | 103.4 |
|
| 10:00 | EMU | Unemployment Rate (Jan) | 7.2% | 7.1% | 7.2% | |
| 10:30 | UK | Gfk Consumer Confidence (Jan) | -13 | -15 | -14 | |
| 13:30 | US | Continuing Jobless Claims (Jan 19) | 2688K | 2672K | ||
| 13:30 | US | Core Personal Consumption Expenditure − Prices Index (MoM) (Dec) | 0.2% | 0.2% | ||
| 13:30 | US | Core Personal Consumption Expenditure − Prices Index (YoY) (Dec) | 2.2% | 2.2% | ||
| 13:30 | US | Core Personal Consumption Expenditure (QoQ) (4Q) | 1.8% | |||