waned yesterday around the globe. The US car
industry rescue plan seems to have been tentatively agreed (voting late NY
afternoon), and commodity prices rose (oil +8%, gold +4%), these factors
moderately lifting equity markets in Asia, Europe, and the US, and in
turn, non-USD currencies.
opening the European session at a recent high of 0.55, the NZD softened to
around 0.5430 by , before
rallying again to that 0.55high. There have been 3
attempts to breach 0.55 during the past 24 hours,with more
attempts likely in todayâ€™s NZ session. Economic releases today,November
business PMI and food prices (), could
provide someinterest for the NZD, as may the Australian employment data.
AUD gyrated in a
narrow 0.6580 to 0.6640 range, and is testing the bottom of that at Wellington time, the US equity
indices slipping after their treasury announced a record November budget
deficit. Australian employment figures will be released at (Sydney time), and
should be the main driver of AUD direction for the day.
Around in Europe, the EUR broke above
1.30, and is poised to test the widely acknowledged key resistance level of
1.3080 resistance. Record low French industrial production data had negligible
effect. JPY weakened overnight, but has recouped those
losses this morning for a net zero change.
wholesale sales down 1.1% in Oct. The second monthly decline, but mostly due
to lower energy an food prices. Excluding these components, â€ścoreâ€ť wholesale
stocks were flat. That is still a soft outcome and adds to the weight of
evidence pointing to a very weak Q4 GDP growth outcome â€“ our advance forecast
is â€“6.0% annualised.
machinery orders drop 4.4% in October. The run of sharply weaker data
continues in Asia. October
machinery orders â€“ a guide to the short term outlook for capex â€“ dropped 4.4%
in October. Although this was only slightly weaker than the 3.8% fall that had
been expected, and followed a 5.5% rise in September, the headline figure
excludes overseas orders which reportedly slumped 37%; the biggest monthly fall
in five years.
labour productivity was unchanged in Q3, the sixth consecutive quarter
without a gain. Jobs growth/hours worked has been matching or exceeding
economic growth over that period.
industrial production collapsed 2.7% in October. Annual growth,
down 7.2% yr, is the weakest since current records began in the early 1980s.
Autos were especially weak in the latest report. Also Italian IP fell 1.2% in
Oct. These data confirm that the European economy â€śfell off a cliffâ€ť in the
on how the US equity markets
close this morning, and whether Australian employment figures surprise. Those
aside, the NZD has a slightly firm tone, and should test the top of the 0.5360
to 0.55 range today.
Release Last Forecast
NZ Nov Food
Prices â€“0.3% â€“
Employment Chg +34.3k â€“30k
Unemployment Rate 4.3% 4.4%
Unemployt Expectations 13.2% â€“
Consumer Inflation Expectations 3.3% â€“
US Oct Trade
Balance $bn â€“56.5 â€“53.5
Prices â€“4.7% â€“5.0%
Jobless Claims w/e 6/12 509K 520K
Eur Dec ECB
Trade Balance C$bn 4.5 3.5
House Price Index 0.1% flat
â€˘ NZ Q3
Terms of Trade (10 December)
â€˘ NZ Agribiz
December 2008 (9 December)
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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Actionable trading levels delivered to YOUR charts in real-time.
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.