User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday September 11, 2008 - 21:31:04 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex Research - Morning Report

Morning Report  Friday 12 September 2008


News and views

USD Index saw some volatility as usual but by late NY was little flat versus late Asia- Pacific trade. Lehman Bros’ shares sank another 45% as it dominated attention again. Moody’s warned that to avoid a rating downgrade, LEH needed a “stronger financial partner”... “near term”. Wires reported that potential buyers are reviewing Lehmans’ books. Other financial stocks were also weak, including MER -19%, Wachovia -9% and fresh 18 year lows for Washington Mutual in the final half hour of trade. However, after opening sharply lower (DJIA -170pts early), equity sentiment improved, with major indices up about 0.5% near the close. Rumours of an emergency Fed rate cut swirled. NY oil prices fell as low as $100.10/bbl. European investors responded to the RBNZ’s aggressive easing by marking NZD/USD as low as 0.6441 but the pair quietly recovered to 0.6500 as the DJIA pressed higher.


AUD/USD dipped to 0.7900 in the London morning but found buyers thereafter and rallied overall, to about 0.8000.


EUR/USD was quiet by recent standards, with a low of 1.3882 but back to flat at

1.3940 into the NY close.


Heightened risk aversion drove USD/JPY down a full yen in the London morning to a low of 106.07 but it ground back to 106.75 in NY as equity markets improved.


The US trade deficit widened to -$62.2bn in July, capturing the peak in prices of crude oil imports. However, trade prices for August showed a hefty 3.7% drop in import prices, as oil reversed during the month, which should see the deficit drop below $60bn in coming months. Export prices were also fell by 1.7% in August, with agricultural prices down 9.6%. This will partly reflect the sharp rise in the US dollar over the month, but also suggests some easing in food prices.


US initial jobless claims 445k in the first week of September, from an upwardly revised 451k the previous week. Though the figures have been distorted by the promotion of new claims arrangements, which attracted large numbers of people into claims offices, it is becoming clear that claims have taken a sizeable step upward in the last few months. Continuing claims also rose sharply to 3525k from 3403k the previous week.


Japanese machinery orders were on expectations in July. The core measure fell 3.9% in the month, in line with forecasts. That follows a -2.6% outcome in June and a 10.4% jump in May.


The ECB monthly report largely mirrored president Trichet’s recent statements. The report said that inflation is at a “worrying level” and unlikely to reach the ‘just below 2%’ target until 2010. Risks to growth are to the downside, but the risk of a wage-price spiral is still a major concern.


The Bank of England spoke to the Treasury Select Committee, with five MPC members attending. Super-dove Blanchflower probably captured the most attention with his pessimistic forecasts, but the other members, including Governor King, were fairly balanced. King said that lower oil prices meant that inflation would not peak as high as first thought, but stressed that upside risks to wage and price inflation remain.


Canada new home prices rose 0.1% in July, bringing the annual rate of growth down to 2.7%. Slower price gains are consistent with the cooling in sales and building activity seen this year.


Canada trade surplus narrowed to $4.9bn in July. Exports were strong across all sectors except energy, as higher fuel prices weighed. Imports were also strong, with an 8% jump in imports from the US.



The RBNZ’s choice of -50bp provides markets with fresh ammunition to sell NZD, both against USD and our preferred trade, versus AUD.


Events Today

Country Release Last Forecast

NZ Jul Retail Sales 0.9% –0.3%

US Aug PPI 1.2% –0.8%

Aug PPI Core 0.7% flat

Aug Retail Sales –0.1% 1.0%

Aug Retail Sales Ex Auto 0.4% –0.5%

Sep UoM Consumer Sentiment (Prelim) 63.0 65.0

Jul Business Inventories 0.7% 0.5%

Jpn Q2 GDP (F) %qtr –0.6% –0.9%

Eur Jul Industrial Production flat –0.5%

Can Q2 Capacity Utilisation Rate % 79.8% 79.5%


Latest Research Papers/Publications

• RBNZ MPS Review (11 September)

• NZ Q2 Terms of Trade (10 September)

• NZ Agribiz September 2008 (8 September)

• NZ Weekly Forex Outlook (8 September)

• RBNZ MPS Preview (5 September)

• Long-life milk (5 September)

• Nation building (4 September)

These papers/publications are available on Online Research on Westpac

Institutional Bank’s website (




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 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."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

John M. Bland, MBA
co-founding Partner,

Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.

Request a TRIAL of Max's Forex Service.


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

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 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

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