User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday September 29, 2005 - 21:37:07 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex: Westpac Institutional Bank Morning Report

New Zealand Dollar: Strong headline GDP data boosts NZD
From opening levels at 0.6865 yesterday, the NZD rallied strongly following the release of Q2 GDP. While revisions to previous quarters brought the annualised rate in at 3.1%, below market expectations of 3.3%, the headline number of 1.1% surpassed expectations of 0.7% and led to the pricing in of a 7% cash rate for Oct 27. As a result, the NZD was marked higher across the board, with gains against the USD peaking at 0.6920 during local trade. Although these gains were extended to 0.6939 during the offshore session, the currency has pulled back slightly to open this morning at 0.7610.

Australian Dollar: Commodity prices support AUD
The AUD also continued its recent recovery against the USD yesterday. With attention focused on NZ's GDP number, the market paid scant attention to news of a 3.9% fall in Q3 job vacancies, with the currency trading a narrow range of 0.7579 - 0.7607 during the local session. However, with copper prices in London reaching a record $3,835/tonne and gold eying $500/oz the AUD remains supported and was lifted to an intraday high of 0.7625 during offshore trading.

Major Currencies: Dollar gains on surprising data
Z The USD gained slightly overnight as the released weekly jobless claims report showed a decrease in claims, a surprising result given Hurricanes Katrina and Rita. The euro fell sharply on the news, eventually reaching a low of 1.2006. Buying from Asia was noted as the reason the euro did not re-test the 1.2000 level, still seen as key support. The euro recovered in late New York trading however, and opens this morning around 1.2045. Sterling followed a similar path to the euro, after bottoming out at a two-month low at 1.7592. Elsewhere, the JPY was fairly quiet, marginally losing ground to the USD and opens this morning around 113.00.

Japanese retail sales up 1.5%yr in Aug. This was not far from expectations, and is consistent with the stronger tone of consumer related data in the year to date.

US Q2 GDP growth unrevised at 3.3% annualised. GDP revisions were minor and offsetting, although the breakdown as it now stands shows slightly stronger domestic spending, and slightly weaker net exports and inventories. The inflation measures were mostly revised a little higher. But focus is more on next month's Q3 GDP advance release; we expect an annualised growth rate a little below 3%, with the hurricanes' impact shaving up to 1 ppt off the growth rate.

US initial jobless claims fell 59k to 356k last week, even though the Labor Dept estimated that a further 60k claims were Katrina-related. But that does not mean that the "true" claims number was actually 296k, because the approach of hurricane Rita meant that many claims could not be filed, especially in Houston which was largely evacuated. Expect a sharp jump in next week's number, and/or an upward revision to this week.

German unemployment rose 39k in Sep. But statistical changes mean that this figure masks a further unemployment fall of 22k. But that fall, in turn, reflects the long-term unemployed being given heavily subsidised jobs, so the underlying jobs story remains cloudy. Also, Spanish inflation jumped from 3.3% yr to 3.7% yr in September, another sign that the flash estimate of the Euroland CPI tonight will be much higher than August's 2.2% yr.

UK data mixed. Mortgage lending picked up smartly in August, confirming that the rate cut at the start of the month has seen some renewed life in the housing market. Consumer credit remained sluggish however, consistent with depressed retail sales.

Events Today
Country Release Last Forecast
NZ Aug Dwelling Consents -7.2% 7.0%
Aust Aug Retail Sales 0.0% 0.4%
Aug Credit 0.5% 1.1%
US Aug Personal Income/Spending 0.3%/1.0% 0.3%/-0.5%
Aug Core PCE Deflator 0.1% 0.1%
Sep UoM Consumer Sentiment (F) 76.9a n/f
Sep Chicago PMI 49.2 52.0
Jpn Aug National CPI %yr -0.3% n/f
Aug Unemployment Rate % 4.4% n/f
Aug Industrial Production % mth -1.2% n/f
Eur Sep CPI Flash Estimate % yr 2.2% 2.4%
Can Jul GDP 0.2% 0.2%

Latest Research papers/Publication
• Economics vs sentiment (29 September)
• NZ Q2 GDP Review (29 September)
• NZ Weekly Forex Outlook (26 September)
• NZ Weekly Interest Rate Wrap-up (26 September)
• NZ Q2 GDP Preview (23 September)
• NZ Q2 Current Account Review (21 September)
• NZ Q3 Consumer Confidence (21 September)
• NZ Weekly Interest Rate Wrap-up (20 September)
• NZ Q2 Current Account Preview (19 September)
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

Tue 19 June 2018
A 12:30 US- House Permits/Starts
Wed 20 June 2018
A 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
Thu 21 June 2018
AA 11:00 GB- Bank of England Decision
A 12:30 US- Weekly Jobless
Fri 22 June 2018
AFlash PMIs

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.



Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105