User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday January 30, 2007 - 20:28:44 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex: Westpac Institutional Bank Morning Report

New Zealand Dollar Negative sentiment weighs on NZD
The NZD traded within a relatively tight range throughout the day with the only blip being a small move lower after weaker than expected building consents data. This saw the NZD marked down to the lows of the day from 0.6950/55 before rebounding back to 0.6960 inside 1 minute. Overnight the NZD came under pressure from a number of US investment banks eager to sell the currency not only against the USD but also against the crosses with NZD/AUD and NZD/JPY falling hard. This move lower was further exacerbated by sell recommendations from a number institutions. As a result stop losses around 0.6920 were triggered and this opened the way for a move back below 0.6900 where it currently sits as we go to print.

Australian Dollar: Negative sentiment sees AUD struggle
It was a fairly quiet day for the AUD with the currency pair finding itself stuck in a 0.7716/38 range with little direction. Not much changed overnight with the only action being a sharp move down to 0.7702 as AUD was dragged lower by a weaker NZD. This was short lived though and AUD quickly rebounded back above 0.7720 where it opens today.

Major Currencies: USD in familiar ranges ahead of FOMC
The USD traded within familiar ranges yesterday, ahead of tomorrow morning’s FOMC announcement and a host of data releases scheduled over the next three days and culminating with Friday’s payroll data. USD/JPY pulled back from 122.00, dipping to 121.47, while the euro strengthened to a 1.2982 high. European concerns regarding yen weakness continue, with German Finance Minister Peer Steinbrueck, who will chair next week’s G7 meeting in Essen, commenting that exchange rates and specifically the EUR/JPY cross would be discussed. Sterling ranged between 1.9598 and 1.9697 as softer housing data was offset by M&A related buying.

Japanese data: Dec industrial production rose 0.7% , putting the annual rate at 4.6%. While the jobs to applicants ratio rose to 1.08 in Dec (up from 1.06), the unemployment rate rose to 4.1%. Employment was biased lower by an unusually large decline in agricultural employment of 6.2% in the month. The household spending data remained weak at –1.9%yr.

US consumer confidence edges up from 110.0 to 110.3 in Jan. Consumer confidence only rose modestly in Jan, although Dec’s decent gain was revised up by a full point to 4.7 pts, making a combined two month gain of 5.0 pts. The Jan rise was constrained by expectations slipping a little (possibly a function of rising fuel prices); the present situation index gain was led by the job market component, hitting its highest since mid 2001. That’s helpful for our above consensus 200k payrolls forecast gain for January!

Other US news. Chain store sales fell 0.9% in the week ended 20/1, the first fall in eight weeks, and almost certainly cold weather related. But the Redbook was unchanged at 1.6%. House prices as reported by S&P/CaseShiller fell for the fourth month running in Nov, but remained positive in annual terms, up 1.7% yr.

Canadian Dec industrial product prices rose 1.4%, their first decent gain since July. Prices for both energy and other products rose.

Euroland retail PMI dipped to 47.9, near a two year low, in Jan, led by an 11 pt plunge in the German index. This suggests that the 3% VAT hike at the start of the month had some impact. However the preliminary German CPI rose to 1.6% yr in Jan, suggesting less than expected impact from the VAT hike.

UK credit/housing data. Consumer credit growth Q4, seemingly unaffected by the Nov rate rise. Mortgage data were less easy to interpret, with the number of approvals falling very sharply in Dec, despite a record high value for net lending (new mortgages less repayments). The implication is that average loan size increased sharply last month, which is to some extent plausible given the rapid increase in house prices in late 2006. Note however some steam coming out of the market this month, according to the Nationwide survey, which showed prices decelerating from 10.5% yr to 9.3% yr.

Events Today
Country Release Last Forecast
NZ Dec Merchandise Trade Bal NZDmn –784 –380
Aust Dec Credit 1.1% 1.0%
US Jan ADP Private Payrolls –40k 120k
Q4 GDP advance % ann’lsd 2.0% 3.0%
Q4 Employment Cost Index 1.0% 0.9%
Dec Construction Spending –0.2% 0.5%
Jan Chicago PMI 51.6 51.5
FOMC Rate Decision 5.25% 5.25%
Jpn Dec Housing Starts %yr 4.0% 8.5%
Dec Construction Orders %yr 9.2% n/f
Eur Jan Consumer/Econ Confidence –6/110.1 –6/110.0
Jan Business Climate Index 1.60 1.58
Jan CPI Flash %yr 1.9% 2.3%
Dec Unemployment Rate 7.6% 7.5%
Ger Jan Unemployment chg –108k –20k
UK Jan GfK Consumer Confidence –8 –9
Can Nov GDP flat 0.3%

Latest Research papers/Publication

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