The USD fell
by around 2% against major currencies last night, after some awfuldata: US jobless claims rose alarmingly, and
the US trade
deficit widened further. What was unusual last night was the USD being
punished, rather than risk currencies and equities, as has been the case for
the past few months. US and European equity indices were largely stable, but
commodities performed well: Brent crude oil up 8%, gold up 2%. Another central
bank cut rates: the Swiss National Bank, by 50bp.
the weak USD, the NZD continued its domestic rally
overnight, and finally broke the 0.55 level, after several earlier attempts
this week. It didnâ€™t quite reach 0.56, and is consolidating around 0.5520
during early Wellington time.
The AUD performed
best among the majors, gaining around 2 cents to a high of around 0.68 at N.Y. time. Unwinding of short-NZD/AUD
positions continued until around Europe, to
slightly above 0.83, followed by a quick fall back to the 0.82 area.
was one-way, to a high of 1.34 area, and was the next best performer last
night. It was only natural for USD-refugees to buy JPY, the pair
mapping out a new trading range of 91 to 92.
trade deficit widens to $57.2bn in Oct. The trade deficit widened in October
because exports fell away more sharply than imports. Export weakness was
broad-based across all categories except telecoms equipment (civilian aircraft
dropped a further 28% due to the Boeing strike). Imports were patchier, with a
majority of categories lower but apparel, pharma, food and oil all posting unexpected
large gains. The oil gain was due to a sharp increase in import volumes, up
from 339mn to 414mn barrels, though prices were lower consistent with the
import price data for October. The November import price data point to another
steep negative for imports (especially if oil volumes drop again) but with
export prices also falling sharply as the US$ appreciates, it is not clear that
the trade deficit will narrow. After adjusting for price changes, the real deficit
widened by 10%, confirming that net exports are no longer making a solid contribution
to GDP growth.
initial claims up 58k. The sharp jump in initial claims, up to 573k
in the week prior to the December non-farm payrolls survey, was dwarfed by the
338k surge in continuing claims (a measure of the level of unemployment) to
4429k, which was the biggest one week gain for decades (if not ever). We always
need to be careful interpreting these figures in the vicinity of public
holidays (the Thanksgiving long weekend was in the prior week). But as the data
stand they suggest that there has been a material increase in lay-offs and
consequent joblessness that might be reflected in an even steeper loss of
payrolls jobs in December than Novemberâ€™s 533k drop.
industrial survey was not weaker in December but remained at very depressed
levels, both in terms of activity and prices.
trade surplus C$3.8bn in Oct. The narrower trade surplus reflected imports
rising at a faster pace than exports, with the weaker C$ a key driving factor.
Separately, Canadian new house prices fell 0.4% in October, their first monthly
decline this decade â€“ another sign that the housing sector is slowing and the
economy is probably entering recession.
The firm NZD
tone continues today, with yesterdayâ€™s 0.55 resistance becoming todayâ€™s support
level. Above that, 0.5580 should cap action today, unless retail sales data at contains a surprise.
Release Last Forecast
Retail Sales 0.1% 0.0%
PPI/Core â€“2.8%/0.4% â€“2.5%/0.1%
Nov Retail Sales
Sales Ex Autos and Gas â€“0.5% â€“0.5%
Consumer Sentiment 55.3 53.0
Inventories â€“0.2% â€“0.2%
Consumer Confidence 29.8 â€“
Labour Costs %yr 2.7% 2.8%
Industrial Production â€“1.6% 0.3%
Can Q3 Capacity
Utilisation 78.9% 78.3%
Sales 2.5% â€“1.0%
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.
Mon 26 Feb 2018 A 15:00 US- New Homes Sales Tue 27 Feb 2018 A 08:55 DE- Jobless B 13:30 US- Durable Goods A 15:00 US- CB Consumer Confidence A 15:00 US- Pending Homes Sales AA 15:00 US- Powell House Testimony Wed 28 Feb 2018 A 10:00 EZ- flash HICP AA 13:30 US- GDP A 15:30 US- EIA Crude Thu 1 Mar 2018 A All Day final Mfg PMIs A 13:30 US- Weekly Jobless AA 13:30 US- Core PCE Deflator AA 15:00 US- Powell Senate Testimony A 15:30 US- EIA Crude Fri 2 Mar 2018 AA 15:00 US- final Univ of Mich
John M. Bland, MBA co-founding Partner, Global-View.com
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.