User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday October 28, 2009 - 20:12:38 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex Research - Westpac Morning Report

Morning Report Thursday 28 October 2009


News and views


Another US data disappointment was the attributed catalyst for a continuation of the risk-averse sentiment for the sixth consecutive day. US new home sales plunged 3.6% compared to expectations of +2.6%. Adding to the negativity was a US investment banks' downgrade to Q3 GDP from 3.0% to 2.7%, based partly on the shipments and inventories components of last night's durable goods report. The S&P500 fell throughout and is currently down 1.0%. The VIX barometer of risk aversion rose by 7%. Most European and Asian indices also recorded 1% to 3% losses. Commodities losses were broad based, oil -2.6%, copper -1.8%, and sugar -3.1%. US treasuries were buoyed by the data as well as another solid outcome for the record-sized 5yr auction (bid-cover ratio was 2.63, the highest since October 2007), 10yr notes shedding 6bp.


The US dollar nudged higher to touch trend resistance at 76.44, as carry trades lost some of their allure. EUR fell throughout the evening to trend support around 1.4710. Norway's central bank hiked by 25bp to 1.50%, as expected, and did produce a brief rally in NOK, but negative risk-sentiment overwhelmed the event and it is down 1.8% against the dollar. GBP again bucked the stronger dollar to 1.6467, settling a half cent lower. JPY did the same, strengthening to 90.55.


AUD fell 1.8% after Sydney closed to 0.8967. The domestic session saw heightened expectations for the inflation report disappointed, pulling it down from the 0.9207 session high, and a host of articles from influential commentators (such as McCrann and Mitchell) pushed the idea of 'only' a 25bp hike in November, and possibly nothing in December.


NZD also fell 1.8%, to 0.7278. AUD/NZD was little changed, ranging 1.2300-1.2340.


US durable goods orders rose 1.0% in September, in line with market expectations. Orders strength was led by a 5.2% rise in aircraft and a 7.1% jump in defence, while vehicles were subdued following the end of the cash for clunkers scheme in August. Inventories fell another 1% in September, and while a slower rundown of stocks should make a positive contribution to GDP growth in Q3, it seems that outright rebuilding of stock levels is unlikely to be seen until well into next year.


US new home sales fell 3.6% in September, and downward revisions to previous months left the overall level of sales substantially below market forecasts. On a more positive note, the stock of unsold homes fell to 7.5 months' worth of sales (compare that to a peak of 12.4 months in January), and a 2.5% rise in prices for the month saw the annual pace of decline slow from -9.5% to -9.1%.


Norges Bank raised its policy rate by 25bp to 1.50%, becoming the second major central bank to begin removing monetary stimulus. Their interest rate projections were revised up substantially compared to their last published forecasts in June, though they are still consistent with a gradual pace of tightening - around 25bp every three months - and the Bank noted that hikes could be scaled back if the krone strengthens more than expected.


German CPI rose 0.2% in October, bringing the annual rate up from -0.3% to 0%. State data suggested that a renewed rise in energy prices was the main driver.



AUD/USD and NZD/USD outlook today:  AUD has broken below several key levels and now targets 0.8860. A 'sell on rallies' approach is our preferred tactical strategy today. Similarly for the NZD which may see minor support at 0.7250. The RBNZ meeting at 9am is a major event risk, the market expecting some change to the language of the last sentence.



Westpac Banking Corporation ABN 33 007 457 141 incorporated in Australia (NZ division). Information current as at 14 November 2007. All customers please note that this information has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation or needs. Australian customers can obtain Westpac's financial services guide by calling +612 9284 8372, visiting or visiting any Westpac Branch. The information may contain material provided directly by third parties, and while such material is published with permission, Westpac accepts no responsibility for the accuracy or completeness of any such material. Except where contrary to law, Westpac intends by this notice to exclude liability for the information. The information is subject to change without notice and Westpac is under no obligation to update the information or correct any inaccuracy which may become apparent at a later date. Westpac Banking Corporation is regulated for the conduct of investment business in the United Kingdom by the Financial Services Authority. © 2004 Westpac Banking Corporation. Past performance is not a reliable indicator of future performance. The forecasts given in this document are predictive in character. Whilst every effort has been taken to ensure that the assumptions on which the forecasts are based are reasonable, the forecasts may be affected by incorrect assumptions or by known or unknown risks and uncertainties. The ultimate outcomes may differ substantially from these forecasts.




Forex Trading News

Forex Research

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 here.

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.

Register To Test Your Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

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 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.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

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.

Request a TRIAL of Max's Forex Service.


Retail Forex Brokerage Changing!

Are you 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.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map

Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

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.

Forex News

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

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

Forex Brokers

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 Trading

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.

FX Trading

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.

Forex Blog 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 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.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105