once again were impressive, the S&P500 posting a 3% gain at time of writing.
With no US data
released, the move was likely driven by the stimulatory package Barack Obama
started unveiling over the weekend. All the major European and Asian bourses
gained, the DAX and CAC leading the way at +8% and +9%, respectively. Commodities
also took heart, Brent crude oil recovering USD 2 to $41, and gold adding $14
The NZD jumped to a
6-day high of around 0.5475 at the start of the European session, and has more
or less held that area, currently 0.5440. The break above the key 0.54 level,
and holding those gains, suggests global markets are more willing to assume
risk since the weekend.
The AUD also broke
to a high not seen since mid-November, almost touching 67 cents. It
outperformed the NZD early, reaching 1.2290 area which was last seen in September
higher at the European opening, first to 1.2920, followed by another push
during New York hours to
around 1.2955. Previous resistance of 1.3080 will be watched closely this week.
Weak European data was ignored: European investor sentiment, German industrial
production, and UK producer
prices all fell sharply. The
weakened against the USD to around 93.90, amid the global optimism, but has returned
to its 92.50 â€“ 93 recent range.
data to report.
current account surplus showed a largely seasonal narrowing to Â¥961bn from
Â¥1,498bn. This included the trade surplus Â¥146bn, in line with themerchandise
trade data, offset by deficits in services and transfers. A Â¥1,209bnincome
surplus was responsible for most of the net current account surplus. Octdata showed
exports down 7.3%yr on the global downturn, while imports growthmoderated to
8.3%yr from 33.4%yr the month. The â€“Â¥117bn in net transfers, andthe services
balance at â€“Â¥278bn continued within their recent range.
investor sentiment continued to fall in Dec, dropping from â€“36.4 to â€“42.3 a
new record low for the six year old survey. The survey was conducted late last
week, so the latest news on US jobs and the ECBâ€™s rate cut would have been at the
forefront of investorsâ€™ minds.
industrial production drops 2.1% in Oct. The collapse in orders in both September
and October is now showing up in sharply weaker output. Annual growth of â€“3.8%
yr is the lowest in more than six years.
producer prices decelerating sharply. Despite some back revisions which saw the
annual rates revised higher, both input and output price inflation continued to
slow sharply, with input prices dropping from 15.4% yr to 7.5% yr and output
prices down from 6.7% yr to 5.1% yr. The exception was core output prices which
edged up from 5.0% yr to 5.1% yr. But the overwhelming message is that
pressures on retail prices from the factory sector are diminishing rapidly.
housing starts drop 18.8% in Nov. The fall was led by multiples down 29% but
single family starts fell 9%, their third consecutive decline, so the underlying
story is one of weakening activity in the sector.
convincing upwards break of 0.54, when combined with the widespread rallies in
equities and commodities last night, points to a decline in risk aversion for
the day ahead. Support today should be 0.54, the currency trading with a firm
tone towards 0.5590.
Release Last Forecast
Aus Nov NAB
Business Survey â€“11 â€“
Stevens Speaks â€“ â€“
IBD-TIPP Economic Optimism 50.8 45.0
Home Sales â€“4.6% â€“3.5%
Jpn Q3 GDP
%qtr â€“0.1% â€“0.2%
Tool Orders %yr -40.0% â€“
Ger Dec ZEW
Economic Sentiment â€“53.5 â€“60.0
UK Nov BRC
Retail Monitor %yr â€“2.2% â€“3.0%
House Price Net Balance % â€“82% â€“85%
Visible Trade Balance Â£bn â€“7.5 â€“7.5
Industrial Production â€“0.2% â€“0.4%
Prices %yr â€“5.1% â€“6.5%
Can Bank of Canada Rate
Decision 2.25% 1.75%
â€¢ NZ Weekly
Forex Outlook (8 December)
â€¢ RBNZ MPS
Review (4 December)
â€¢ NZ Weekly
Forex Outlook (1 December)
â€¢ RBNZ MPS
Preview (28 November)
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."
Actionable trading levels delivered to YOUR charts in real-time.
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.com
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.
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.
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.