uncertainty drives global risk aversion overnight. The
conflicting signals and rumours regarding nationalisation of banks such as
Citigroup drove investors to take the safest path and shun risk, sending the
S&P500 down 2% by NZâ€™s open, the Dow Jones Industrials touching 1997
levels. In breaking news this morning, an announcement on the Citigroup
situation is expected later today or tomorrow, and insurance giant AIG is
expected to announce a US$60 billion loss, likely to be followed by a request
for more government assistance. Oil followed the theme, down 3%, as did the USD
index, +1%. Most other asset classes were little changed.
NZD followed AUD
higher to 0.5183, and then fell a cent, not offering any new clues from the
price action. Yesterdayâ€™s Jan credit card transactions were 1.7% higher mom,
but this statistic is a less reliable guide to retail sales than the more
complete electronic transactions report, and so we take little from the
a final push in this two-day rally, to 0.6550, before negative EUR comments
brought it back to 0.6435. AUD/NZD washed around
in a broad 1.2580 to 1.27 range.
session surge to 1.2992 was Citigroup-inspired, and the ensuing fall attributed
to Fitch concerns regarding Austria, as well as
ECB Trichetâ€™s reiteration of the negative Eurozone outlook. Quashed talk of a
Eurozone bond issue to assist weaker members also contributed. USD/JPY reached almost
95, as deteriorating fundamentals remove its former safe-haven status.
Dallas Fed factory index falls from â€“50.5 to â€“57.3 in Feb. Production, orders,
shipments, jobs, the workweek and investment were all weaker. This result
mirrors the NY and Philly Fed surveys, which also rose in Jan but then fell
away again in Feb. Separately, the Chicago Fed published its national activity
index for Jan (a summary of 85 previously released indicators). It rose from
-3.65 to -3.45, still very weak and if the Fed business surveys are to be
believed, it will be a short-lived rise.
retail sales slump 5.4% in Dec. Unit auto sales were already known to have slumped
15% in Dec, and gasoline sales were down 12% on lower prices. But even
excluding these factors, core retailing was down an exceptionally weak 1.8%,
with broad-based and steep losses across furniture, building supplies and
clothing. More evidence that the domestic economy is slowing sharply.
continues to range between 0.50 and 0.52, and shows no signs of an impending
breakout. Todayâ€™s price action should be confined to that range. We expect that
break will eventually be to the downside, targeting the high 0.40â€™s.
Speizer, Senior Market Strategist, NZ, Ph: (04) 470 8266
contributions from Westpac Economics
Country Release Last Forecast
S&P-CS house prices %yr â€“18.2% â€“
consumer confidence 37.7 35.0
Fed factory index â€“49 â€“55
Bernanke semi-annual testimony
Jpn Jan BoJ
Policy meeting minutes â€“ â€“
current account â‚¬bn sa â€“16.0 â€“
industrial orders â€“4.5% â€“6.0%
Ger Feb Ifo
business climate index 83.0 82.0
business investment â€“1.3% â€“
distributive trades survey â€“ â€“
â€¢ NZ Weekly
Forex Outlook (23 February)
â€¢ NZ Weekly
Forex Outlook (16 February)
â€¢ NZ Q4
Retail Sales Review (13 February)
â€¢ NZ Weekly
Forex Outlook (9 February)
â€¢ NZ Q4 HLFS
Review (5 February)
â€¢ NZ Q4 LCI
and QES Review (2 February)
â€¢ NZ Weekly
Forex Outlook (2 February)
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.
Tue 17 July 2018 AA 08:30 GB- Employment A 13:15 US- Industrial Production AA 14:00 US-Powell Testimony Wed 18 July 2018 AA 08:30 GB- CPI A 12:30 US- Housing Starts/Permits AA 14:00 US-Powell Testimony Thu 19 July 2018 AA 1:30 AU- Employment AA 08:30 GB- Retail Sales A 14:30 US- EIA Crude A 12:30 US- Weekly Jobless Fri 20 Jun 2018 A 12:30 CA- CPI/Retail Sales
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.