User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday March 4, 2010 - 20:25:58 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex Research - Morning Report


Morning Report Friday 5 March 2010

News and views

In a mixed evening, where negative news outweighed the positive, US equities were roughly flat, commodities and risk currencies weaker. US economic data releases were a mixed bag, jobless claims improvements later dampened by a plunge in pending home sales. Central bank events failed to elicit much response, the BoE holding at 0.5% without commentary and the ECB also holding, at 1.0%. The markets took interest in Moody's downgrade of Deutsche Bank from AA1 to AA3. Also of interest were rumours suggesting US agency Fannie Mae discriminate its surplus cash lending in favour of US domestic banks at the expense of Europeans. The S&P500 is currently up 0.1%, with commodity index CRB down 1.2% (oil -1.1%, copper -2.1%, gold -0.7%). The US treasuries curve is 6bp flatter, driven by a 5bp sell-off in the 2yr ahead of tonight's key payrolls report.

The US dollar is stronger, the DXY index bouncing from 80.00 to 80.65. EUR fell from the 1.3650-1,3700 area to 1.3550. USD/JPY bounced strongly on the Fannie Mae rumours above, from 88.20 to 89.20, and formed a bullish key reversal day.

The AUD was volatile, and twice tried unsuccessfully to break below 0.8980, punctuated by a visit to 0.9040.

NZD continued to underperform, breaking minor support levels to land around 1.6860. AUD/NZD made a fresh decade high at 1.3126, and held its gains.

US pending home sales fell 7.6% in Jan, way below the weakest forecast, and with sales down in all regions but by the most in the mild West, it is unlikely to be a temporary weather disruption story. Rather, the housing market seems to have exhausted the benefit from the tax credit for buyers, and is once again revealing its underlying weakness, also apparent in new home sales.

US factory orders rose 1.7% in Jan, reflecting a revised 2.6% durables component, and a 0.9% rise in non-durables, some of that due to energy price gains. Factory stocks rose 0.2%.

US initial jobless claims fell 29k to 469k last week, suggesting the previous week's spike was weather-related. In that previous week, continuing claims fell 134k to 4.5mn, a new cycle low. In other news, Feb chain store sales accelerated to a 3.7% yr pace, suggesting weather impact was not severe. Productivity growth was revised up from 6.2% annualised to 6.9% in Q4, so unit labour costs were marked lower from -4.4% to -5.9%.

The ECB left rates on hold at 1.00%. At the press conference rates were described as appropriate, inflation subdued, and growth uneven. It was also decided to continue with fixed tender/full allotment main and special refinancing operations until October, but other non-standard operational measures were phased out.

Euroland GDP growth was confirmed at 0.1% in Q4, down from 0.4% in Q3. The Q4 detail included flat household spending, falling investment/public spending and export and import gains.

The Bank of England left the Bank rate at 0.50% (it's been there a year now) and maintained the stock of asset purchases at GBP200bn. There was no commentary in the perfunctory statement. On the data front house prices fell 1.5% in Feb, the first decline on the HBoS measure since June last year. Prices are still up 4.5% yr.

Canadian building permits fell 4.9%, their third consecutive decline after revisions. In Jan residential permits rose 4.1% but non-res fell 21.0%.

Canadian IVEY PMI rose just 1.1 pts to 51.9 in Feb, a very soft gain compared to the average rise of 8 pts in the previous five Februaries (series not seasonally adjusted).


AUD/USD and NZD/USD outlook next 24 hours: AUD should be contained by 0.9040 and 0.8980 during today's domestic session. NZD is supported at 0.6850 and 0.6800, but looks vulnerable.


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 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

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