US equities slipped for the second
day, after month's 27% rally.
The S&P500 closed down 2.4% on jitters ahead of the US reporting season. After the NY close, Alcoa was
first to report, with its loss a penny below expectations. General Motors' was
said to be preparing for possible bankruptcy, and contributed to the mood. The
US Treasury said it would delay the results of bank stress tests until after
the earnings report season, fearing stock market reaction. Oil fell 4.0% on the
equities move, but copper managed a 0.8% rise on reports of increased shipments
to China. US 10 year treasuries gained by 3bp on
NZD fell through 0.58 support, following the
equities move, as well as the residual effects of the weak NZIER business
survey. It then sat in a 0.5750 to 0.5800 range, testing the bottom early this
morning. Financial conditions are now estimated to be over 200bps tighter than
on 12 March, the date of the last OCR review, and this will be of concern to
AUD gyrated in a 0.7060 to 0.7190 range, unaffected
by the bearish global environment. This was likely due to the RBA's token 25bp
rate cut yesterday, as well as articles last night from the two most
influential writers on Australian monetary policy, both Mitchell and McCrann
suggesting little further easing can be expected in this cycle. The AUD's
decoupling from US equities saw AUD/NZD post an impressive 1.2250 to 1.2390
rally, a 3% gain now in two days.
EUR tumbled from 1.3400 to 1.3225, with more ECB
media comments on 1% not necessarily being a floor in rates, and purchases of
corporate debt a possibility. GBP rebounded from a 1.4585 low to 1.4775,
possibly assisted by a better than expected IP report. JPY was contained
in a 100 to 101 range.
US IBD/TIPP consumer optimism survey rose to 49.1
in April, close to the level of
net optimism for the fist time since last November. The economic outlook
increased sharply, while the personal financial outlook increased a little.
Both are now in optimistic territory. The assessment of Federal policies fell,
and remains pessimistic than expected.
Bank of Japan left target overnight call rate at 0.10% at yesterday's policy board meeting with little
room to cut further. It continues to announce that it will widen the range of
collateral it accepts from banks, to include municipal debt, in continued
efforts to encourage bank lending.
Eurozone Q4 GDP was revised to -1.6% in the final estimate, from the previously
estimated -1.5%. Revisions to previous quarters brought the annual growth
figure down to -1.5%. There were large, offsetting revisions to the components.
Household and government spending were revised up, while investment was revised
UK February industrial production fell a further
1.0%. Industrial production has
fallen 12.5% in the past year, and has not posted a monthly gain for 15 months.
Manufacturing contracted by slightly less than the mining and energy
components, whereas for most of the past year it has been the other way around.
The silver lining is that February's decline in manufacturing and total
industrial production was the smallest since the collapse of Lehman Brothers.
Sentiment has turned, for the short term at
least. US equities could be pressured while earnings
reports are released this week, in turn weakening the NZD. Today, 0.58 is firm
resistance, while 0.5750 has been tested a few times, and would be expected to
â€¢ NZ Q1 QSBO
Review (7 April)
â€¢ An update
on the mortgage market (1 April)
â€¢ NZ Q1
Employment Confidence Index (1 April)
â€¢ NZ Weekly
Forex Outlook (30 March)
â€¢ NZ Q4
Current Account Review (26 March)
â€¢ NZ Q1
Consumer Confidence (25 March)
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 19 Mar 2018 Tue 20 Mar 2018 AA 9:30 GB- CPI A 10:00 DE- ZEW Survey Wed 21 Mar 2018 AA 03:00 AU- Employment AA 9:30 GB- Employment A 12:30 US- Current Account AA 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude A A18:00 US- Fed Rate Decision A 21:00 NZ- RBNZ Rate Decision Thu 22 Mar 2018 AA All Day flash PMIs AA 9:30 GB- Retail Sales AA 12:00 GB- Bank Of England Decision A 13:30 US- Weekly Jobless Fri 23 Mar 2018 AA 12:30 CA- CPI/Retail Sales A 12:30 US- Durable Goods A 14:00 US- New Homes Sales
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.