User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday March 26, 2013 - 19:39:55 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex - Westpac Morning Report

Morning Report Wednesday 27 March 2013


Market wrap
Global market sentiment: Rosy US data helped lift sentiment last night, although Europe again dragged. US durable goods and house prices beat consensus estimates and pushed risky markets higher, disappointing consumer confidence and new home sales reports only denting the rallies. More hurtful was news the European Parliament is pushing for deposits above EUR 100,000 to be explicitly subject to haircuts in future. Fitch put Cyprus’ B rating on negative watch but Standard & Poor’s already has CCC so the move was ignored. The S&P500 is currently up 0.6%, while the CRB commodities index is up 0.5%.

Interest rates: The US 10yr treasury yield initially firmed from 1.92% to 1.94% but later fell to 1.90%. A 2yr auction was surprisingly disappointing given the recent Eurozone news, the bid-cover at 3.3 (vs 3.8 average). Australia’s 3yr bond yield fell from 3.06% and 2.99%, while the 10yr yield fell from 3.61% to 3.54%.

Currencies: Largely restrained. The US dollar index tracked sideways in a narrow range. EUR fluctuated above a multi-month low between 1.2820 and 1.2890. USD/JPY ranged between 94.00 and 94.62. AUD rose from 1.0460 to 1.0497 – a two month high – before retreating to 1.0470. NZD similarly rose from 0.8345 to 0.8387 – a one month high. AUD/NZD initially rose from 1.2520 to 1.2555 but then fell to 1.2500.

Economic wrap
US durable goods orders jumped 5.7% in Feb, reversing their –3.8% Jan decline (revised from –5.2%). The detail: aircraft up 95%, autos up 4% but core capital goods down 2.7%, though that followed a 12% rise in the previous four months. Even so core orders were down 3.5%yr. Defence has been up and down like a yoyo lately. The true subdued orders picture is only revealed when looking at the annual growth rates. The apparent pickup in orders (and jobs, business surveys, etc) since late last year is barely getting them back to where they were running a year ago, which suggests it is mostly swings in the seasonal adjustment factors rather than underlying growth driving the orders profile month to month.

US new home sales fell 4.6% in Feb but have been ratcheting higher since Aug last year, alternating between rises and falls. The annualised sales pace of 411k in Feb compares to 366k a year earlier, a gain of 12.3% yr which followed a gain of 34% yr from the 273k sales nadir in Feb 2011. Even so those two years of recovery have only reversed 12% of the peak to trough sales drop since 2005. Lack of decent established homes for sale have helped the new build market along. Still on the housing market, S&P-CS house prices were up 8.1% yr, their fastest since 2006, with the monthly data showing gains for a year now.

US consumer confidence fell from 68.0 to 59.7 in Mar, according to the Conference Board (matching declines in the UoM and IBD-TIPP indices). The Mar fall reversed most of the Feb jump,and was led by expectations (down 11.5 pts) though the present index also fell (down 3.5 pts). The consumer assessment of the labour market was unchanged, indeed has barely moved since Nov last year.

US Richmond Fed factory index slowed from 6 to 3 in Mar, with shipments slowing, orders falling and jobs accelerating. A year earlier in Feb-Mar 2012 the index slowed from 12 to 7, so the turn of year upswing is less impressive this year than in 2012 and indeed than in 2011 and 2010.

UK CBI retail survey showed reported sales slowing from 8 to 0 in Mar, the weakest since Aug last year (weighed down by the Olympics).

Event risk today: NZ has monthly business confidence to watch today, as well as Fonterra’s six-monthly meeting which may announce a payout revision (Westpac economists forecast higher).

NZD/USD 1 day: Near term momentum remains positive and above 0.8385 is expected today.
NZD/USD 1-3 month: A sustained rise above 0.8355 would put the NZD back into positive-trend mode, below suggests further weakness to 0.8100. Global surprises will drive it in the near term but we expect a fresh high by late 2013 on NZ’s improving economy.
NZ 2yr swap yield 1 day: Opening down 2bp at 2.90%.
NZ 2yr swap yield 1-3 month: Following the current consolidation, which could yet extend lower to 2.80%, a rise above 3.20% should ensue.
AUD/USD 1 day: Still awaiting a minor correction to below 1.0400 but near term momentum remains positive and above 1.0500 is possible first.
AUD/USD 1-3 month: Remains inside an 18-month consolidation triangle defined by 1.0500 above and 0.9900 below. We expect the eventual break to be upwards.





Westpac Banking Corporation ABN 33 007 457 141 incorporated in Australia (NZ division). Information current as at 27 March  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.

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 15 Oct 2018
AA 12:30 US- Retail Sales
Tue 16 Oct 2018
AA 08:30 GB- Employment
A 09:00 DE- ZEW Survey
A 13:15 US- Industrial Production
Wed 17 Oct 2018
AA 08:30 GB- CPI
A 09:00 EZ- Final HICP
A 12:30 US- Housing Starts/Permits
A 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
AA 18:00 US- Fed Policy Minutes
Thu 18 Oct 2018
A 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 12:30 US- Weekly Jobless
Fri 19 OCt 2018
AA 12:30 CA- CPI/ Retail Sales

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