perversely benefited from weak economic data overnight. Grim US housing
numbers and concern the auto industry may fail, even after the friendly Government
loans, weighed on US equities which are down around 1% at NZ time. US sentiment,
in turn, pushed oil down 2% to $39, copper down 5%, and shipping costs down 2%.
NZD held its
0.57 support for most of a quiet overnight session, until a breakdown to 0.5660
a few hours ago on tiny volume. This was simply following the mildly weak tone
in most other currencies, but augurs for a lower trading range next week.
AUD broke its
3-day 0.68 support level, but has managed to bounce back inside. AUD/NZD is a
picture of grinding strength, now at the top of a new 1.19 to 1.20 range.
EUR struggled to
rise any further than 1.39 on the weak US data,
mildly positive Eurozone data and supportive ECB comments. Irrational, but this
is Christmas. The USD gained most against the JPY, from 90 to
just under 91.
real estate statistics hit two-decade lows. Nov new home sales fell 2.9% to
407,000, worse than the 419,000 expected. Existing home sales plunged 8.6% to
4.49 million (4.91 million expected). The Oct FHFA home price index fell 1.1%,
for a 7.5% yoy decline, thanks to increased foreclosures.
was finalised at -0.5%, as expected, and matches the previous quarterâ€™s fall.
consumer sentiment was revised up to 60.1, a rise from the horrible
manufacturing index fell to -55 (-40 expected). Personal consumption (Q3)
weakened slightly to -3.8%, the core PCE deflator to 2.4% q/q.
October current account deficit improved to EUR 6.4 billion (EUR 4.8
billion unadjusted). This negative number is more than offset by theEUR 107.6
billion net portfolio inflows, though.
UKâ€™s Q3 GDP release made for further grim reading, being
revised down to 0.6% against expectations, and the worst since Q4 1990. The
-1.8% outlook for 2009 provides no cheer. The current account deficit widened
to GBP 7.72 billion, but by less than expected. Mortgage approvals (Nov.) fell
from 20,767 to 17.773.
its benchmark interest rate 75bp to 5.00%.
breakdown overnight of 0.57 support points to a new 0.56 to 0.57 range for today,
and most likely early next week. However, we caution against reading too much
into market behaviour until early January, when the major participants will
start showing their hands again. Until then, we wish you an enjoyable break, and
the very best for 2009.
Strategy, 0800 922 239
contributions from Westpac Economics
Country Release Last Forecast
24 Dec US Nov
Personal Income 0.3% 0.1%
Spending â€“1.0% â€“0.8%
Nov Core PCE
Goods Orders â€“6.9% â€“4.0%
Jobless Claims w/e 20/12 554k 554k
Jpn Q4 BSI
Large Manufacturing %qtr â€“10.0 â€“
Q4 BSI Large
All Industry %qtr â€“10.2 â€“
Merch Trade Bal Â¥bn â€“175.6 â€“218
Can Oct GDP
25 Dec Intâ€™l
Jpn Nov BoJ
Policy Meeting Minutes
â€¢ NZ Q3 GDP
Review (23 December)
â€¢ NZ Q4
Consumer Confidence (22 December)
â€¢ NZ Q3
Current Account Review (22 December)
for NZ house prices in 2009 (18 December)
â€¢ NZ Q3 GDP
Preview (18 December)
Review (18 December)
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 9 July 2018 AA 12:00 EZ- Draghi EU Parliament Testimony Tue 10 July 2018 AA 08:30 GB- Ind/Prod Output, Trade AA 09:00 DE- ZEW Survey Wed 11 July 2018 A 12:30 US- PPI A 14:00 CA- Bank Of Canada Decision A 14:30 US- EIA Crude Thu 12 July 2018 AA 12:30 US- CPI Fri 13 July 2018 A 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.