User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday February 4, 2010 - 19:26:04 GMT
Westpac Institutional Bank - www.westpac.co.nz

Share This Story:
| | Email

Forex Research - Morning Report

Morning Report Friday 5 February 2010

 

News and views

 

Investors bailed out of risk during the US session, spooked by an unexplained rise in US jobless claims. The S&P plunged immediately after the report and is currently down 2.4%, the largest one day fall since 30 October. Even before the data, though, equities globally were looking soggy. Spain was under the credit analysts' microscopes, its own treasuries auction underperforming in the wake of Portugal's yesterday, and the credit spreads for both rose further, to a fresh high of 195bp in Portugal's case. The Eurostoxx 50 closed 3.5% down. Commodities were significantly lower (CRB index down 2.7%), severe falls seen for oil (-5.2%), silver (-5.5%), gold (-4.0%), and copper -3.1%. Inflation concerns left the radar for the session, US 10yr treasuries shedding 10bp and flattening the curve by 3bp. An outside-down day was formed.

 

The US dollar continued its post-November rise (7.8% so far) to just shy of 80.00. EUR fell to a post-May low of 1.3728. The ECB held rates at 1.00%, and the statement was little changed. The PIMCO fund said they would avoid the Euro area's currencies due to the region's finances. The dollar lost ground against the yen, from 90.50 to 88.50, partly reflecting Japanese margin fx traders stopping out of short-yen positions. GBP fell from 1.5900 to 1.5730. The BoE also held rates steady at 0.50%, but left the door open for further quantitative easing.

 

AUD roughly held the 0.8800 support area during Europe, but buckled after the US data to 0.8608, a level last seen in October.

 

NZD fell to 0.6845, last seen in September. AUD/NZD held its domestic session bounce to 1.2650 for much of the evening, slipping to 1.2580 in NY.

 

US initial jobless claims rise 8k to 480k, their highest for the year so far. The Labor Dept had previously reported that there was a backlog of claims from the new year that explained the mid-January spike, but the latest rise is unexplained, and may simply reflect a genuine lack of further improvement in labour market conditions. Similarly, continuing claims, which fell from 6.9mn to 4.6mn between June last year and early January, appear to have stalled since then. We remain comfortable with our forecast for a -40k fall in January non-farm payrolls, out tonight.

 

US Q4 productivity growth surged 6.2% annualised, very solid as it typically is in the early stages of recovery, reflecting strong growth and falling hours worked. Consequently unit labour costs fell 4.4% annualised, their fourth straight quarter without a gain.

 

US factory orders rose 1.0% in Dec, thanks to an upward revision to the durables component and a largely energy price-driven rise in non-durables. A 0.1% fall in factory stocks is not enough to see a downward revision to the stocks cont'n to Q4 GDP growth.

 

The European Central Bank left its repo rate unchanged at 1.00% following last night's Council meeting. At the press conference ECB chief Trichet described rates as "appropriate"and repeated that a timetable for unwinding of some of the extraordinary liquidity measures would be given in March. But once again there was no hint re the timing of a more conventional monetary policy tightening, which we consider to still be up to a year away. On the data front, German factory orders fell 2.3% in Dec.

 

The Bank of England left rates on hold at 0.50% and suspended its asset purchase program at GBP200bn. The statement noted that "the Committee will continue to monitor the appropriate scale of the asset purchase programme and further purchases would be made should the outlook warrant them." That is consistent with our view that, should the economy slip back into shallow recession later this year, the APP could be expanded further. On the data front, UK house prices rose 3.6% yr in Jan, according to HBoS.

 

Canadian data wrapDec building permits up 2.4%; Jan Ivey PMI rises 2.4pts to 50.8.

 

Outlook

 

AUD/USD and NZD/USD outlook today:  AUD has broken successive key support levels this year, the next below being 0.8500 (August resistance). For today, it looks extremely oversold, so that 0.8600 should hold until tonight's US payrolls report. NZD has some support at 0.6850 today, but further declines longer term are expected. Of interest today will be the RBA's monetary policy statement.

 

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 www.westpac.com.au 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."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 15 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Thu 14 Dec
23:50 JP- Tankan Survey

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --23:50-- JP- Tankan Survey
John M. Bland, MBA
co-founding Partner, Global-View.com EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

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 Global-View.com.

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

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.

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