User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday March 7, 2006 - 20:36:04 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex: Westpac Institutional Bank Morning Report

New Zealand Dollar NZD continues lower
The NZD was crushed to 18-month lows yesterday on expectations that the local currency would soon lose its attractive yield advantage. Opening around 0.6570, the currency quickly fell to around 0.6520 as sellers emerged from all corners. It was largely downhill in the offshore session as well as the NZD succumbed along with other major currencies against the USD. The NZD is on its lows this morning as we open around 0.6480.

Australian Dollar: AUD through lower end of range
The AUD slid to new recent lows yesterday for largely the same reasons as NZD; a declining yield advantage making the currency unattractive. Opening the day around 0.7400 the AUD didn’t go much higher, with a steady decline being the order of the day. At the local close AUD was around 0.7380 and continued to slip overnight, eventually bottoming out around 0.7330 where we open this morning. AUD has now breached the lower end of its recent 0.7350- 0.7450 range.

Major Currencies: Fed comments inspire USD rally
The USD rallied across the board yesterday after Federal Reserve member Poole said in an interview that the Fed may have to raise interest rates further if economic growth was consistently strong. The rally continued overnight and the euro and GBP open at the lows this morning, 1.1880 and 1.7360 respectively. The JPY also softened against the USD overnight, and opens at 117.96 this morning. The Bank of Canada hiked rates to 3.75% overnight, as expected, but the dovish tone of the statement surprised the market and USD/CAD rallied to 1.1947.

US Q4 productivity was revised up little from the original –0.6% print, still registering a quarterly decline relative to the near- flat consensus. Output was revised up 0.6ppts, taking on board the upgraded GDP result. However, hours worked were also bumped up – so the added output was achieved through added inputs rather than an implied productivity improvement. Compensation per hour remained as with the original print, but without the forecast boost to productivity the result was that unit labour costs didn’t get revised down quite as much as expected. The revisions don’t materially change the picture of weak productivity in Q4 and a recent uptrend in labour costs.

Fedspeak: Fed President Poole (a non-voting FOMC member) said the US economy has a great deal of momentum and “we may have to step a little harder on the brake”.

The Bank of Canada raised rates a further 25bps to 3.75%. However, the BoC has moderated its stance to leave the prospects of a further rate hike more open-ended. January’s policy assessment was shifted to “some modest further increase in the policy interest rate may be required” from “would be required”. Still a tightening bias, but, it seems, becoming more data dependent in the wake of a stronger than anticipated C$.

German factory orders bounced sharply in January after December’s dip, but that month’s fall was revised up by a significant 1.3 ppts. So further confirmation here that German industrial sector recovery is well underway. However the breakdown continues to show orders strength dominated by the foreign sector.

UK British Retail Consortium’s retail sales monitor for February had annual growth holding roughly steady at 3.5% y/y, while same-store sales picked up to 0.6% from 0.2%. This survey’s result was stronger than that of the CBI survey released on Feb 28, which fell from –11 to –18. The true retail sales picture for February is likely to be somewhere in between.

Events Today
Country Release Last Forecast
7 Mar Aust RBA Policy Announcement 5.5% 5.5%
Jpn Feb Bank Lending %yr flat 0.2%
Feb M2+CD Money Supply %yr 1.9% 2.0%
UK Feb BRC Retail Price Index
Can Feb Housing Starts 248k 235k
9 Mar NZ RBNZ MPS 7.25% 7.25%
Q4 Terms of Trade –0.5% –0.3%

Latest Research papers/Publication
• A dysfunctional tool? (7 March)
• NZ Weekly Forex Outlook (6 March)
• NZ RBNZ March MPS Preview (2 March)
• NZ Weekly Forex Outlook (27 February)
• NZ Weekly Forex Outlook (20 February)
• An over-inflated problem (16 February)
• NZ Q4 Retail Sales (14 February)
• NZ Weekly Forex Outlook (13 February)
These papers/publications are available on Online Research on
Westpac Institutional Bank’s website (
Upcoming Events Latest Research Papers/Publications

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 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 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