User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday March 11, 2008 - 20:34:56 GMT
Westpac Institutional Bank - www.westpac.co.nz

Share This Story:
| | Email

FX Research - Morning Report

Morning Report   Wednesday 12 March 2008 

News and views
The
New Zealand dollar raced higher overnight, as investor risk appetite received a shot in the arm from new liquidity measures announced by several central banks. The NZD began to pick up off its lows around 0.7880 late yesterday, and gains in the euro helped it to break through resistance at 0.7960. The new liquidity measures sent the NZD back above 0.8000, where it stayed for the rest of the day. The biggest gains came against the yen and the Swiss franc – the stereotypical ‘funding’ currencies for carry trades – as investors grew in confidence. The NZD also outpaced the AUD, though the latter potentially has more to gain from any easing in liquidity pressures, given how far Australian credit spreads have blown out in recent days. The AUD reversed the previous day’s losses to settle at around 0.9260.

The key liquidity measure came from the Fed, which announced a new Term Securities Lending Facility (TSLF). The facility will lend up to $200bn of Treasury securities to dealers for 28-day terms (rather than overnight, as in the existing program), and will accept a wider range of collateral including federal agency debt and AAA-rated residential mortgage-backed securities (RMBS). This should make it easier for dealers to fund their balance sheets by in turn lending the Treasuries in exchange for cash. This move has seen the Dow bounce by 3.5% and credit spreads narrow significantly.

The euro initially gained after some better than expected data and hawkish comments by officials, but was knocked lower after the Fed announcement and a stronger US trade balance. The ZEW analyst’s survey reported managed a partial recovery for the second month rising to -35 against market forecasts of -42. Even so, expectations have deteriorated sharply from June 2007, when they were at +20. The current conditions index continues to moderate. German Economy Minister Glos sounded relaxed about the euro’s strength, seeing no reason for short term fears about the high EUR level, albeit observing that some sectors are indeed feeling the pinch of its strength. ECB council member Weber said that price pressures do not give room for rate cuts, even through to 2009, where the inflation outlook is particularly worrying given expectations for robust growth.

The US trade deficit was lower than expected in January at $58.2bn. Exports are now up 16.6%yr, propelled higher by the record low US dollar, compared with imports up 11.9%yr. Net exports added 0.9% annualised in Q4 and look set to add to GDP growth in Q1. However, record high oil prices are taking a toll on the trade position, with the petroleum deficit jumping to $35.1bn for the month. The ex-petroleum deficit narrowed from $26.5bn in Dec to $23.1bn, the smallest deficit since October 2002.

The UK RICS housing market survey found that the number of property agents and surveyors reporting price falls exceeded those reporting gains by 64.1% in February. The RICS survey suggested that the deepening housing slump is the worst since the eve of the nation’s last recession in 1990. The DCLG price report showed that annual price gains moderated further in January, to be well down from the 12%yr pace of mid-2007.

Outlook
We have to think that the measures announced by the Fed will have a significant impact on market confidence in coming weeks, particularly given the end-of-quarter liquidity pressures that have tended to emerge since the credit crunch began last year. In the longer term, though, nothing short of full disclosure of credit losses will allow credit markets to heal.

The NZD and AUD will naturally benefit from improved sentiment, though a test of their recent highs may be a stretch. Part of the earlier enthusiasm for the AUD in particular was due to expectations of further central bank tightening; but with higher funding costs being passed through into mortgage rates, the market is doing a lot of  the work for the RBA. Similarly, while we may see the market trim back expectations of OCR cuts, there will be little interest to price in hikes any more. 

Michael Gordon, Market Strategist, Wellington, Ph: (04) 470 8266
With contributions from Westpac Economics and Westpac Strategy

Latest Research Papers/Publications
• NZ Q4 Terms of Trade Review (11 March)
• NZ Weekly Forex Outlook (10 March)
• RBNZ MPS Review (6 March)
• NZ Weekly Forex Outlook (3 March)
• NZ Interest Rate Focus (28 February)
• RBNZ MPS Preview (27 February)
• NZ Weekly Forex Outlook (25 February)

These papers/publications are available on Online Research on Westpac
Institutional Bank’s website (www.wib.westpac.co.nz)

Events Today
Country Release Last Forecast

NZ Feb Food Price Index 0.4% 1.3%
Aus Mar Westpac-MI Consumer Sentiment 97.4 –

US Feb Mthly Budget Statement USDbn –120.0 –165.0
Jpn Q4 GDP 2nd Estimate %qtr 0.9% 0.6%
Feb Corp. Goods Prices %yr 3.0% 3.3%
Jan Current Account ¥bn 1855 2000
Feb Consumer Confidence 37.9 –
Eur Jan Industrial Production –0.2% 0.4%

UK Budget Statement

 

Westpac Banking Corporation ABN 33 007 457 141 incorporated in Australia (NZ division). Information current as at 14 November 2007. All customers please note that this information has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation or needs. Australian customers can obtain Westpac's financial services guide by calling +612 9284 8372, visiting www.westpac.com.au or visiting any Westpac Branch. The information may contain material provided directly by third parties, and while such material is published with permission, Westpac accepts no responsibility for the accuracy or completeness of any such material. Except where contrary to law, Westpac intends by this notice to exclude liability for the information. The information is subject to change without notice and Westpac is under no obligation to update the information or correct any inaccuracy which may become apparent at a later date. Westpac Banking Corporation is regulated for the conduct of investment business in the United Kingdom by the Financial Services Authority. © 2004 Westpac Banking Corporation. Past performance is not a reliable indicator of future performance. The forecasts given in this document are predictive in character. Whilst every effort has been taken to ensure that the assumptions on which the forecasts are based are reasonable, the forecasts may be affected by incorrect assumptions or by known or unknown risks and uncertainties. The ultimate outcomes may differ substantially from these forecasts.

 

 

Forex Trading News

Forex Research

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 11 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
  • POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision


  • POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
  • POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
John M. Bland, MBA
co-founding Partner, Global-View.com EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

 
Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map


Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog

Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105