was comparatively quiet in early London morning but
gained about 0.7% in New York. The Lehman
Bros announcements ($3.9bn Q3 loss vs forecast $2.2bn, sale of assets) didnâ€™t
have a lasting impact on FX or LEH shares themselves which opened a little
firmer but faded into the close for a loss, in line with many jittery
financials. The DJIA overall clung to modest gains and slight weakening in oil
prices (NYMEX crude back under $103/bbl) helped the dollar somewhat. NZD/USD
a fairly quiet countdown to the RBNZ decision, easing from a little over 0.6700
to 0.6650/60 late NY.
choppy at times but ultimately softer, fading to 0.8030 in late NY trade.
undermined by the European Commissionâ€™s forecast for a â€śtechnicalâ€ť recession in
Germany and Eurogroup
chairman Junckerâ€™s view that the euro is still overvalued, slipping from 1.4150
in the London morning to
1.4040 by late NY, with a low of 1.4012.
from 107.50 to its 106.58 low after the Lehmans statement but rebounded to the
107.60-80 area. The pair found some support on rumours of a Jiji report that Japanâ€™s sovereign
debt rating was to be downgraded.
data to report.
corporate goods price inflation decelerated in August. The domestic
corporate goods price index rose 7.2%yr in August, down from 7.3% in July. The
index fell 0.1% in the month.
current account improved in July. The seasonally adjusted surplus widened to
ÂĄ1556bn in July from a slim ÂĄ1291bn in June. The two main factors lifting the
overall position were that trade balance widened on softer imports, and the
services deficit narrowed. The income balance was relatively stable at ÂĄ1.5trn.
As for the unadjusted data, the surplus widened sharply to ÂĄ1531bn from ÂĄ494bn,
with the income surplus driving this outcome. The unadjusted surplus was poorly
recycled, with just ÂĄ1140bn exiting via the capital and financial accounts.
Commission downgrades growth forecasts. The EC is now formally
forecasting recessions this year in Germany, Spain and the UK, and essentially
flat growth in Euroland over the remainder of this year.
industrial production rebounded 1.2% in July, following a cumulative
decline of 3.6% in May-June. Consumer goods production and auto output were
behind the rise.
trade deficit narrows in July. The global visible trade balance narrowed
from ÂŁ8.0bn to ÂŁ7.7bn, reflecting strength in exports, which rose to a two year
high. Imports also rose, but by less.
labour productivity down 0.2% in Q2, its third consecutive quarter of decline
(something not seen since 1990). Consequently unit labour costs rose 1.2%.
broadly neutral NZD/USD but bearish NZD vs AUD, assuming no great shocks from
the RBNZ statement today.
contributions from Westpac Economics
Release Last Forecast
Monetary Policy Statement 8.00% 7.75%
Prices 0.6% â€“
Employment/Unemployment 10.9k/4.3% 10k/4.3%
Consumer Inflation Expectations 4.9% â€“
Unemployt Expectations â€“0.6% â€“
US Jul Trade
Balance $bn â€“56.8 â€“55.7
Prices 1.7% â€“2.0%
Jobless Claims w/e 6/9 444k 450k
Budget $bn â€“117.0 â€“105.0
Machinery Orders â€“2.6% â€“4.0%
Trade Balance C$bn 5.8 5.3
House Prices 0.1% flat
â€˘ NZ Q2
Terms of Trade (10 September)
â€˘ NZ Agribiz
September 2008 (8 September)
â€˘ NZ Weekly
Forex Outlook (8 September)
â€˘ RBNZ MPS
Preview (5 September)
papers/publications are available on Online Research on Westpac
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
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.
Mon 18 Dec
10:00 EZ- final HICP Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes Mon 25 Dec
00:00 Christmas Holidays
Potential Trading Opportunities
POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.
POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity
POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
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.
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.
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 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.
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 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.
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.
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.