User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday April 18, 2006 - 21:39:27 GMT
Westpac Institutional Bank - www.westpac.co.nz

Share This Story:
| | Email

Forex: Westpac Institutional Bank Morning Report

New Zealand Dollar NZD nudges through 0.6300 ahead of inflation data
The NZD consolidated above 0.6200 yesterday as the USD moved lower on the growing view that US interest rate increases may be near their end, along with concerns about Iran’s nuclear ambitions and resultant oil prices. The currency held around 0.6250 for much of yesterday, as local investors returned from the Easter break, but it managed to push higher and peak at 0.6310 overnight. We open today’s trading around 0.6300 ahead of today’s NZ Q1 inflation data release at 10.45am.

Australian Dollar: AUD above 0.7400 on USD weakness
The AUD traded a tight range yesterday, but jumped to a high of 0.7418 overnight with the current pressure on the USD. Aside from negative USD sentiment the move in the AUD was also assisted by the continued surge in gold and metal prices. We open this morning just below the 0.7420 resistance level.

Major Currencies: Fed minutes see USD sold
The release of the FOMC March meeting minutes saw a sell-off in the USD overnight as it surfaced that the FOMC is closer to ending its tightening cycle than the market previously thought. Before the minutes release the euro had climbed steadily off its session lows and reacted sharply on the upside reaching its highs around 1.2326. Sterling followed the euro for most of the session reaching a 1.7813 high. JPY also strengthened on the day and opens around its lows at 117.30.

US PPI tame in March. The core PPI rose only 0.1% after two months of more solid gains. From the perspective of the added focus by the Fed on commodity and energy price passthrough, this is a benign result. There remains some evidence of pricing pressure at the very start of the processing chain, given the 0.8% increase in core crude producer prices. However, those pressures were quickly absorbed further up the pipeline, with core intermediate prices up only 0.1%. Annual growth in core output prices was 1.7% i.e. little different to that of recent months.

US housing starts, permits drop. The 7.8% fall was larger than expected and made up for resilience in Feb. The level of starts is slightly below the level they had trended down to prior to Jan’s jump. Importantly, it reinforces that weather, rather than a rekindling of underlying demand, was behind the strong start to the year. It was a similar story for permits, with the 5.5% fall likewise leaving the number of permits slightly below where they finished 2005.

Fedspeak: Janet Yellen, the San Francisco Fed President, said that she will be “highly alert to the possibility of the policy tightening going too far”, being “increasingly concerned” of the lags from past interest rate increases to their impact on the economy. That phrasing is putting greater emphasis on the issue to what she said a month ago, that she would be “sensitive to the possibility that policy could overshoot”.

FOMC Minutes: The key point to take from the meeting minutes is that they are a shade to the dovish side of the statement that was released immediately after the Mar 28 meeting. Most FOMC members thought that the tightening cycle was getting towards the end. The minutes reveal the Fed was closer to moderating the wording than assumed off the back of the statement. Data since the Fed statement have generally supported the Fed's view on inflation (risks present but not getting realised) and growth (to slow after a Q1 bump, and definitely housing moderating). Though we are likely to get to 5% on Fed Funds, it is more of an open door whether the Fed goes any further.

UK housing rebound: some moderation? The March Rightmove house price measure rose 1.1% m/m, the fourth rise in a row. However, annual growth slipped to 4.1%, though that lack of pick-up in the annual rate looks more to do with a base effect. However, the RICS house price balance for March eased back to a net balance of 13% of surveyors reporting higher house prices, down from 16%.

Canadian Feb new motor vehicle sales. The 0.4% decline after a 1.2% increase in Jan was close to expectations.

Events Today
Country Release Last Forecast
NZ Q1 CPI %qtr 0.7% 0.6%
Aust Feb WBC-MI Leading Index 3.7% n/f
US Mar CPI/Core 0.1%/0.1% 0.4%/0.2%
Jpn Feb Leading Index 80% n/f
Eur Feb Industrial Production 0.0%
UK BoE Minutes for 6/4
Can Mar Leading Indicators 0.2% 0.3%

Latest Research papers/Publication
• NZ Weekly Forex Outlook (18 April)
• Diving kiwi, soaring petrel (13 April)
• NZ Economic Overview April 2006 (13 April)
• NZ Q1 QSBO Review (11 April)
• NZ Q1 CPI Preview (11 April)
• NZ Weekly Forex Outlook (10 April)
• NZ Interest Rate Strategy Weekly (10 April)
These papers/publications are available on Online Research on
Westpac Institutional Bank’s website (www.wib.westpac.co.nz)

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 www.westpac.com.au 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."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 18 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Mon 18 Dec
10:00 EZ- final HICP
Tue 19 Dec
09:00 DE- IFO Survey
13:30 US- Housing Starts/Permits
13:30 US- Current Account
Wed 20 Dec
15:00 US- Existing Homes Sales
15:30 US- EIA Crude
Thu 21 Dec
03:00 JP- BOJ Decision
13:30 CA- CPI & Retail Sales
13:30 US Weely Jobless
13:30 US- GDP
Fri 22 Dec
09:30 US- GB- GDP
13:30 US- core PCE Deflator & Presonal Income
15:00 US- New Homes Sales
15:00 US- final University of Michigan
17:00 US- early Closes
Mon 25 Dec
00:00 Christmas Holidays

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Medium Mon--10:00 GMT-- EZ- final November HICP. flash data are rarely changed.


  • POTENTIAL PRICE RISK: HIGH- Medium Tue --09:00 GMT-- DE- IFO Survey. Key report but usually not a market-mover
  • POTENTIAL PRICE RISK: HIGH- Medium- Tue --13:30 GMT-- US- Housing Starts and Permits. Leading indicators of activity

  • POTENTIAL PRICE RISK: HIGH-Medium- Wed --15:00-- US- Existing Homes Sales. Top Housing statistic
  • POTENTIAL PRICE RISK: Medium- Wed --15:30-- US- EIA Crude

John M. Bland, MBA
co-founding Partner, Global-View.com EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

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 Global-View.com.

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

Global-View.com 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 Global-View.com. 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.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

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