User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday May 25, 2005 - 23:06:18 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex: Westpac Institutional Bank Morning Report

Westpac Institutional Bank Morning Report

New Zealand Dollar: Short covering keeps NZD above 0.7100
From yesterday's opening levels at 0.7140, NZD/USD failed to progress above 0.7150 and faced immediate selling, which erased much of the currency's overnight gains. Buyers emerged above 0.7100, however, and the NZD rebounded above 0.7130 towards the close of the local session. The offshore session initially saw a strengthening of the USD and once again lows of 0.7108 were tested. Despite, stronger than expected US durable goods and new home sales data, technical support levels across the board, remained intact forcing traders to cover short positions. With this, the NZD again improved to 0.7135, from where we start this morning.

Australian Dollar: AUD remains above 0.7600 despite domestic data
After strengthening above 0.7600 following the release of May 3's FOMC minutes, the AUD also ran into sellers into 0.7640. The market shrugged off local data releases that confirm a cooling of the Australian economy. A 1.1% fall in building work done and a WBC-MI reading of -0.2% had little impact on the currency which recovered from intraday lows of 0.7586 to reclaim 0.7600 into the local close. Although the offshore session was marked by morning strength in the USD, failure to move to lower ranges against the euro, saw a round of shortcovering, which offered support to the market.

Major Currencies: Yuan speculation provides direction
The dollar weakened against European currencies last night but strengthened against the JPY after more comments out of China about yuan revaluation. Sterling shrugged off weak GDP data to reach an overnight high of 1.8336, and with a lack of data out in the Euro zone the euro followed suit, reaching 1.2620 before settling just above 1.2600. Chinese officials again stipulated that they were in no hurry to revalue the yuan causing the JPY to be sold. It is widely believed that yuan currency revaluation would cause JPY to strengthen.

Bank of Japan minutes: more transparency on the way? The minutes revealed an important discussion on transparency was conducted. Some members forwarded the idea of offering economic projections a further year out. Others agreed in principle, but thought now was not the time, whilst deflation remained intact.

Japan's April trade balance narrowed to ₯712bn. A 6% surge in prices drove a 5.6% burst in April import values.

US durable goods orders jump 1.9% in April, led by a 3.4% jump in auto orders after three consecutive declines, and a 28% surge in civilian aircraft orders, reversing the prior month's decline – transport orders were down marginally, mainly due to a 14.5% drop in defence, reversing the prior two months' gains. Encouragingly, after two consecutive declines, core capital goods orders recovered somewhat in April. Together with upward revisions to March, the orders profile is now more or less flat in March-April and more consistent with the business survey evidence on orders.

US new home sales rise 0.2% in April, but were revised dramatically, smoothing the recent profile of the data and lowering the previous estimate for March by 8.2%. However April posted a further modest gain, setting a new sales record. Despite the revisions, this is further evidence of a booming housing market in the US, fuelled by low long term interest rates and growing popular belief that house prices will keep going up.

Central Banks on hold. The Bank of Canada left its overnight rate unchanged at 2.50%, and noted no material change in the economic outlook. Also, the Norwegian central bank left its key rate at 1.75%.

German IFO business climate falls from 93.3 to 92.9 in May, the fourth consecutive month in May, to a 21 month low. All industries apart from retail recorded declines. This is further evidence that German business is worried about where the economy is heading.

UK GDP growth was revised down from 0.6% to 0.5% in Q1. Government spending grew 0.7%, but household spending was subdued at 0.3% and business investment flat.

Events Today
Country Release Last Forecast
NZ Apr Trade Balance NZDmn -194 -338
Aust Q1 New Capital Expenditure 5.7% flat
04/05 Capital Expenditure Plans 8% n/f
05/06 Capital Expenditure Plans 1.5% n/f
US Q1 GDP Revision %ann 3.1%a 3.6%
Initial Jobless Claims 321k 325k
Fedspeak: Guynn and Moskow
UK May CBI Industrial Trends Survey 5 n/f

Latest Research papers/Publication LaLatesttest research Papers/Publications
• NZD: Finding supply and demand (25 May)
• Diversification - no place like home (24 May)
• Wages - a precursor of inflation? (23 May)
• NZ Weekly Forex Outlook (23 May)
• NZ Weekly Interest Rate Wrap-up (23 May)
• NZ Budget 2005 Review (19 May)
• Taking Stock (17 May)
These papers/publications are available on Online Research on
Westpac Institutional Bank’s website (

Westpac Banking Corporation ABN 33 007 457 141 incorporated in Australia (NZ division). Information current as at 24 May 2005. 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

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