User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday August 2, 2005 - 23:12:39 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex: Westpac Institutional Bank Morning Report

New Zealand Dollar: NZD rallies to test resistance levels
NZD/USD tried in vain to break out of the range it has inhabited for the past two weeks on Tuesday. With no local data releases, NZD trading was again subdued and took its lead from its trans-Tasman neighbour and the euro. The low was traded early in the day at 0.6830 but a recovering AUD and stronger euro helped the NZD rally to 0.6866 by the end of local trading. The bid tone continued offshore and the currency was soon trading the high at 0.6884 and testing the upper level of its two-week range. The resistance proved too strong and the NZD retreated back to 0.6870 at the close, still ensconced in the range.

Australian Dollar: Aust data supports the currency
Australian economic data placed a positive spin on the economy on Monday and increased the demand for AUD. June retail spending rose 1.3% outperforming market expectations of a 0.5% rise, reflecting broad based strength. The trade deficit shrank in June to $1.371bn, although it was not as narrow as expected it reflected a significant improvement in the Q2 deficit and a lot better than Q1. The AUD opened around 0.7620 and dipped to 0.7600 before the data releases; the encouraging numbers were the catalyst for a rally to 0.7660, an 11 day high. The AUD closed at 0.7655 and looks to test the high.

Major Currencies: USD weakens following benign US inflation
The USD weakened on Tuesday following a benign core PCE inflation reading, the reading is one of the inflation measures closely watched by the Federal Reserve. The core PCE deflator was flat for the second quarter, suggesting the Fed could be less aggressive with future interest rate increases. The USD was under selling pressure following the reading against most currencies however the USD pared some losses after other data showed upward revisions to US durable goods orders in June. The euro rallied toward the top of its recent range of 1.2255 following the data, and it opens this morning off its highs at around 1.2195. After posting a 3-week 1.7754 high, the GBP was sold after news that a fire on a bus triggered a security alert. The Sterling opens this morning just above 1.7700 support.

US core PCE deflator flat in June. As usual just after the quarterly GDP figures are released, the monthly personal income and spending figures don't reveal much new. The pace of income growth in June was respectable, while consumption was quite strong, buoyed by auto sales in particular. The core PCE deflator was unchanged, and benign in the quarter. However the annual rate at 1.9% was boosted by upward revisions back in 2004, which also saw May's annual rate revised up from 1.6% yr to 2.0% yr.

US factory orders rose 1.0% in June, with durables revised up from 1.4% to 2.0%, and non-durables posting an unexpected fall (unexpected given that energy prices rose so sharply back in May. Factory inventories were flat in June; they have not posted a rise since March, consistent with the big drag on Q2 GDP growth from business inventories.

US weekly retail reports: chain store sales up 0.9%, fifth weekly gain in a row; Redbook up 0.3%, with July as a whole "exceeding expectations".

Euroland unemployment in June was steady at May's 8.7%, which was revised down from 8.8% previously reported. Still very high, but at least not rising, though we think is largely due to government funded employment schemes in Germany. Also, higher energy prices and euro depreciation combined to lift the PPI back to 4.0% yr in June.

More UK survey data: The Confederation of British Industry's retail survey remained close to the 22 year low it reached in June. However we suspect that this survey is exaggerating the extent of retail weakness. The construction PMI slipped 1.1 pts, reversing just a third of the prior month's jump to a six month high. The accompanying commentary was up-beat, noting in particular that housing construction continued to accelerate.

Events Today
Country Release Last Forecast
Aust RBA Policy Announcement 5.50% 5.50%
Jul AIG PSI 52.1 n/f
Jun Dwelling Approvals 4.5% -2.0%
US Jul ISM Non-Manufacturing 62.2 62.0
Eur Jul Services PMI 53.1 53.5
Jun Retail Trade 1.1% 0.3%
UK Jul PMI Services 53.1 53.5
Jul BRC Shop Price Index

Latest Research papers/Publication
• NZ Weekly Interest Rate Wrap-up (2 August)
• NZ Weekly Forex Outlook (1 August)
• Of free lollies and collective cavities (29 July)
• RBNZ OCR Review (28 July)
• A matter of balance (26 July)
• A question of capacity (25 July)
• NZ Weekly Forex Outlook (25 July)
• NZ Weekly Interest Rate Wrap-up (25 July)
These papers/publications are available on Online Research on
Westpac Institutional Bank’s website (
(Previous day’s closing rates)

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 9 July 2018
AA 12:00 EZ- Draghi EU Parliament Testimony
Tue 10 July 2018
AA 08:30 GB- Ind/Prod Output, Trade
AA 09:00 DE- ZEW Survey
Wed 11 July 2018
A 12:30 US- PPI
A 14:00 CA- Bank Of Canada Decision
A 14:30 US- EIA Crude
Thu 12 July 2018
AA 12:30 US- CPI
Fri 13 July 2018
A 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