User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday February 27, 2013 - 19:45:45 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex - Westpac Morning Report

Morning Report Thursday 28 February 2013



Market wrap
Global market sentiment: Markets were calmer last night. There appeared to be no residual impact from the Italian election stalemate, the Eurostoxx 50 index rebounding by 1.6%. An EC Eurozone economic confidence survey improved, and US data for durable goods (ex-aircraft) and housing beat expectations, helping the S&P500 to a 1.0% gain so far. Bernanke’s second day of testimony to the Senate was less confrontational than expected, perhaps also helping sentiment. Commodities were less enthused, though, Brent oil down 0.4%, copper down 0.5%, and gold down 1.1%.

Interest rates: US 10yr treasury yields consolidated after a four day decline, ranging between 1.84% and 1.89%. A 7yr auction was a tepid affair. with a bid-cover ratio of 2.9 (vs 2.9 average). Eurozone peripherals also stabilised in the wake of the inconclusive Italian election, 10yr government bond yields in Italy down 9bp and in Spain down 13bp. Italy managed to auction EUR6.5bn of 5yr and 10yr bonds. Australian 3yr bond yields initially dipped from 2.72% to 2.68% but rebounded to 2.73%.

Currencies: The US dollar index (DXY) is slightly lower. EUR rose from 1.3050 to 1.3130. USD/JPY bounced off 91.14 to 91.94. Underperformer AUD slipped a little further, from 1.0230 to 1.0184 (a five-month low) before stabilising. NZD stabilised around recent lows, ranging between 0.8226 and 0.8266. AUD/NZD ranged between 1.2365 and 1.2400.

Economic wrap
US durable goods orders fell 5.2% in Jan, mainly due to sharply lower Boeing orders (civilian aircraft fell 34%). Defence orders were down 70% having soared 107% in Jan, and auto orders were about flat for the second month running. The bright spot in the report was the 6.3% jump in core capital goods orders, which have risen about 12% since the start of the fourth quarter. However this strength is taking time to show up in shipments of core durables which fell 1.0% in Jan and were flat in Dec.

US pending home sales rose 4.5% in Jan and the Dec fall was revised from –4.3% to –1.9%. Sales are up 10.4% yr.

Eurozone economic confidence rose from 89.5 to 91.1 in Feb, its highest in nine months. But in the aftermath of the Greek election mess in May last year this index fell from 93.7 to 88.7 in 3 months and something similar should be in prospect in the next few months, given the timely reminder from the Italians that fiscal austerity is deeply unpopular across much of Europe. Also, the business climate index rose from –1.09 to –0.73, its fifth month without slippage. And the GfK reported a slight rise from 5.8 to 5.9 in their “March” consumer confidence report for Germany.

Eurozone money supply M3 annual growth edged up from 3.4% yr to 3.5% yr in Jan, but credit to the private sector decelerated from –0.7% yr to –0.9% yr.

UK GDP growth revised up from 0.0% to 0.2% in 2012, although the Q4 contraction of 0.3% was unrevised. Exports and capital expenditure were behind the quarterly decline, despite private and government spending growth. A separate measure of business investment spending was down 1.2% in Q4, after a downward revised 0.5% Q3 gain, so a grimmer picture on the capex side of the UK economy late last year is emerging.

Italy update: There is speculation a bizarre Bersani-Berlusconi alliance might emerge (bizarre given their polar positions on austerity) in an effort by those two to avoid a second election to keep the comedian Beppe Grillo from winning an even more embarrassing % of the popular vote than the 25% he achieved at the weekend. Meanwhile the caretaker government under PM Monti will probably proceed with the bailout of Monte Paschi bank that was agreed in Dec, despite Grillo protests.

Event risk today: NZ data today (building permits, monthly business confidence) is second tier but could cause minor NZD movement. Australia’s CAPEX activity (and expectations) will be more important.

NZD/USD 1 day: 0.8300 should provide resistance today, the downside looking vulnerable near term.
NZD/USD 1-3 month: The positive trend since May has been broken and we now targets around 0.8100 during the month ahead. Our view of a fresh high later in 2013 remains intact though.
NZ 2yr swap yield 1 day: Opening today down unchanged at 2.92%.
NZ 2yr swap yield 1-3 month: Following this correction, which should extend to the 2.80%-2.90% area, a rise above 3.20% should ensue.




Westpac Banking Corporation ABN 33 007 457 141 incorporated in Australia (NZ division). Information current as at 28 February 2013. 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