User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday June 5, 2006 - 21:54:05 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex: Westpac Institutional Bank Morning Report

New Zealand Dollar NZD recovers after initial move lower
The NZD remained below 0.6300 most of Friday after being dragged down by a weak AUD and a USD boosted by speculation over future interest rate rises. The sell-off in gold and a wave of profit taking in metals weakened the AUD as the market looks for offshore influence this week ahead of the RBNZ’s MPS on Thursday. Some direction came from a weak US non-farm payrolls number and a raft of other US data, which saw the NZD to a high of 0.6360. After yesterdays Queen’s Birthday holiday we continue to consolidate and open the week just above 0.6300.

Australian Dollar: AUD hit by data deluges
The AUD sold-off on Friday, but paused yesterday, consolidating around 0.7525 after USD weakness. Soft US payrolls derailed the USD’s recovery prompting investors to pare back expectations of a June rate rise. The currency shrugged off an initial wave of mainly secondary local data yesterday, however the market eagerly awaits the Australian current account, GDP, employment data and the RBA rate announcement on Wednesday. The AUD opens the day around 0.7480.

Major Currencies: Bernanke rhetoric catalyst for USD rally
Federal Reserve Chairman Ben Bernanke’s speech at an International Monetary Conference on Monday indicated the Fed will remain vigilant on inflation pressures and said current inflation levels were at the top end of the comfort zone. The FX market has increasingly speculated about whether the Fed will hike interest rates for the 17th consecutive time at their next meeting in June and has been sensitive to such comments. Any hints of a rate rise give immediate support to the US dollar and speculation of a pause in the tightening cycle hurt the dollar. After rallying early in the day the euro weakened after Bernanke’s remarks, coming off the high at 1.2980 and opening today at 1.2905. The Sterling traded sideways for much of Monday between 1.8825 and 1.8860 but weakened during the US session and closed around 1.8725. Japanese yen price action was similar to the Sterling and traded quietly between 111.45 and 111.80 for most of the day but dollar strength took the pair to 112.15 this morning.

MoF survey points to major upward revision to Japanese Q1 GDP. A literal application of the MoF's comprehensive survey of incorporated business activity to the second estimate of GDP gives a very rapid growth out-turn for the second consecutive quarter. With appropriate discounting, we feel that GDP will be revised up to the 4½% to 5% annualised range. The preliminary release for Q1 was 1.9%.

US ISM non-manufacturing as expected. The May survey headline was steady at 60.1, reversing April's rise. The activity components were mixed: new orders down noticeably, order backlogs down, but employment and export orders up. The more noteworthy result was the 7-point jump in prices paid to 77.5, the highest level since Hurricane Katrina impacted - and something to add to the Fed's disquiet over recent inflation indicators.

UK services PMI edges down. The May PMI declined to 59.2 from 59.7, remaining near its 2+ year high. The activity components shifted only modestly and prices that the service industries charge showed no added pick-up.

Events Today
Country Release Last Forecast
NZ Q1 Wholesale Trade Survey –1.6% –
Aust Q2 Westpac-ACCI Survey 51.1 –
Apr Housing Finance (No.) 0.7% 0.5%
Q1 Public Spending 2.6% 1.2%
Q1 Current Account Deficit AUDbn 14.4 15.6
Q1 Net Exports Contribution ppts –0.5 –0.4
US Fedspeak: Gov Bies and Kansas City Fed Pres. Hoenig
Eur May PMI Retail 54.6 50.0
UK May Consumer Confidence 93 n/f
May BRC Retail Sales Monitor
Can Apr Building Permits 5.3% –3.0%
May IVEY PMI 55.7 58.0

Latest Research papers/Publication
• NZ June RBNZ MPS Preview (2 June)
• NZ Weekly Forex Outlook (29 May)
• A changed reaction function? (23 May)
• NZ Weekly Forex Outlook (22 May)
• NZ Budget 2006 Review (18 May)
• NZ Q1 Retail Sales Review (15 May)
• NZ Weekly Forex Outlook (15 May)
• NZ Interest Rate Strategy Weekly (15 May)
• NZ Q1 HLFS Review (11 May)
• NZ Interest Rate Strategy Weekly (9 May)
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 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

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