User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday October 5, 2006 - 20:29:54 GMT
Westpac Institutional Bank - www.westpac.co.nz

Share This Story:
| | Email

Forex: Westpac Institutional Bank Morning Report

New Zealand Dollar Squeeze in funding costs underpin NZD
The NZD held above 0.6600 during yesterday’s trade, ranging between 0.6615 and 0.6648 in the domestic session. Relative interest rate differentials continue to be cited as bolstering demand for the currency, with a squeeze in overnight funding costs in the fx swap market making short NZD positions unusually expensive to finance. The NZD extended gains overnight, establishing a high of 0.6659 before suggestions from Philadelphia Fed President Charles Plosser that US rates may have to rise further saw the currency drift back to 0.6635, from where we open this morning.

Australian Dollar: AUD pressured on NZD/AUD cross
The AUD once again traded within narrow confines during the local session yesterday. Although the release of an increase in retail cashcard activity in September points to a robust retail sales number and precious and base metal prices improved overnight, gains in the currency proved difficult to sustain. The AUD remains pressured on the NZD/AUD cross, as the scaling back of expectations of a near-term rise in AUD rates contrast with fears that RBNZ may be forced to hike before year-end. This has pushed the cross towards a six-month peak, with a high of 0.8915 seen overnight.

Major Currencies: ECB raises rates but muted tone from Trichet
The ECB hiked rates as expected however ECB President Trichet provided no clear signal on any further eurozone tightening at the subsequent press conference. This disappointed euro bulls looking for a more hawkish tone and resulted in a sell-off down to a session low of 1.2672. The USD benefited on a day bereft of local data after Philadelphia Fed President Charles Plosser argued the case for further tightening. This kept the euro below 1.2700 and JPY above 117.50. Elsewhere the GBP tumbled around 100 points to a low of 1.8751 after the BoE left rates on hold.

US initial claims fall 19k to 302k. Initial claims fell quite sharply last week, and the previous week’s rise in the continuing claims count left in place a modest downtrend. Both outcomes hint at a slight (unexpected) firming in labour market conditions in late September/early October. Also, monthly chain store sales data for September, up 3.8% yr compared to 2.9% yr in August, were not as weak as the weekly figures suggested.

Canadian Ivey manufacturing survey rises to 59.9. The Ivey index always tends to rise in September, but this year’s gain was a little less pronounced than in previous years, suggesting some manufacturing sector softening might be showing through.

Canadian building permits jump 8.3% in August, a surprisingly solid gain, with broad-based rises in both residential and non-residential activity. The sector is holding up well in the face of higher interest rates and concerns about contagion from the slowing US economy.

.The European Central Bank continued its policy of well flagged monetary policy tightening, with a 25bp rate rise to 3.25%. By deliberately avoiding the use of the word "vigilant" in the press conference, ECB chief Trichet was saying that a follow-up rate rise as soon as the November 2 meeting was unlikely. And while "it will remain warranted to further withdraw monetary accommodation", he no longer used the term "progressive", which hints that a peak might be approaching. We continue to expect two 25bp rate rises in December and then February, to a 3.75% peak, though the risk of pause/peak at 3.5% has increased somewhat.

The Bank of England left rates unchanged at 4.75%. However a rate rise is widely expected in November, after the quarterly forecasting round. The main arguments centre around continued jobs growth, the resurgent housing market and consumption, above target inflation and limited spare capacity in the economy.

Events Today
Country Release Last Forecast
Aust Sep AIG PSI 50.2 n/f
US Sep Non-Farm Payrolls chg 128k 125k
Sep Unemployment % 4.7% 4.8%
Aug Consumer Credit USDbn 5.5 4.0
Ger Aug Factory Orders 1.8% –1.0%
G7 Aug OECD G7 Leading Index 104.7 104.5
UK Aug Industrial Production 0.2% 0.1%
Can Sep Employment –16k 25k

Latest Research papers/Publication
• NZ Q3 Employment Confidence Index (4 October)
• NZ Weekly Forex Outlook (2 October)
• NZ Interest Rate Strategy Weekly (2 October)
• NZ Q2 GDP Review (29 September)
• NZ Q3 Consumer Confidence (27 September)
• NZ Weekly Forex Outlook (25 September)
• NZ Interest Rate Strategy Weekly (25 September)
• NZ Q2 GDP Preview (22 September)
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 11 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
  • POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision


  • POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
  • POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
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