User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday November 29, 2010 - 19:19:51 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex Research - Morning Report (Westpac)

Morning Report Tuesday 30 November 2010

News and views

Investors returned from the US holiday in a bearish mood, pushing the S&P500 0.8% lower, threatening 1173 support, and elevating the VIX barometer of risk aversion to a 4 October high. The Eurostoxx closed 2.5% lower. That was despite a solid Dallas factory survey and initial reports of strong retail spending over the long weekend, as well as a helpful bailout package for Ireland. Indeed, while that country's fiscal woes have been addressed, attention has simply shifted to other peripherals, Spain and Italy in the firing line last night, their 10yr government bond yields rising by 24bp and 23bp, respectively, compared to Germany's +2bp. Commodities bucked the risk aversion, the CRB up 0.5%, with a particularly strong gain in oil (1.9%), the better US data flow helping. US 10yr treasury yields followed US equities and are 4bp lower at 2.83%. The Fed buys a total of $10.5bn in treasuries today.

The US dollar's impressive rise since the FOMC meeting (4 November) continued, the risk averse mood beneficial. EUR was the worst performer of the day, falling from 1.3300 to 1.3064, last seen on 21 September. Safe-haven status went to the Swiss franc, USD/CHF stable around 1.0020, rather than the yen which may be suffering from Korean geopolitical tension. USD/JPY rose from 83.83 to 84.40.

AUD confirmed its neckline break by pushing lower to 0.9567 from an early Europe high of 0.9700. The recent run of Australian data has been uninspiring.

NZD also pushed lower from 0.7536 to 0.7429. AUD/NZD was stable around 1.2880.

US Dallas Fed factory index up from 3 to 16 in Nov.  The production, orders, shipments and jobs indices all posted solid gains. Of the four regional Fed factory surveys released for November, three were up sharply, and only one (NY) fell.

Japanese retail sales fell 1.9% in October, against expectations for a 0.7% fall. This leaves retail sales 0.2% lower over the year, down from +1.4%yr in September. Also out today, small business confidence declined to 45.8 in November, from 46.4 in October.

Euroland business surveys keep rising. The business climate index rose from 0.91 to 0.96 in Nov, and the economic confidence index rose from 103.8 to 105.3 - both new cycle highs. Also, the European Commission published updated economic and fiscal forecasts for the eurozone and member economies. For Euroland, the 2010 growth forecast was lifted from 0.9% to 1.7% (due in large part to the surprise spurt in growth in Q2), but 2011 is expected to see growth moderate to 1.5% as budget austerity measures are pursued.

UK house prices fell 0.8% in Nov according to Hometrack, their fifth consecutive decline which left prices down 1.1% yr. In October, mortgage approvals fell from 47.4k to 47.2k, essentially unchanged since the start of the year (47.6k in Jan). Related data showed mortgage outstandings rising GBP1bn in Oct, and consumer credit up GBP0.3bn. Both figures were stronger than their Sep gains, but still way down on the GBP10bn/GBP2bn per month increases seen at the peak of the credit boom earlier this decade.

Canadian current account deficit C$17.5bn in Q3. The widest deficit on record - recall that Canada recorded surpluses on the current account in early 1990s and for most of the past decade. In other news, industrial product prices rose 0.5%, up for the third month running, on the back of energy and metal prices.


AUD/USD and NZD/USD outlook next 24 hours:  Australian current account, building approvals, and credit are all released this afternoon and could excite the markets. AUD's break below a significant head-and-shoulders neckline on Friday predicted a multi-cent fall during the weeks ahead. Bounces remain capped by 0.9710. NZD continues to work its way to 0.7400, bounces still limited to 0.7560. NZ building and credit data should have minimal impact.


.Westpac Banking Corporation ABN 33 007 457 141 incorporated in Australia (NZ division). Information current as at 30 November 2010. 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 registered in England as a branch (branch number BR000106) and is authorised and regulated by The Financial Services Authority. Westpac Europe Limited is a company registered in England (number 05660023) and is authorised and regulated by The Financial Services Authority. © 2010 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

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

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