User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday February 1, 2007 - 20:03:49 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex: Westpac Institutional Bank Morning Report

New Zealand Dollar NZD falls on overnight stop loss selling
After opening around 0.6850 yesterday the NZD rallied on the back of broad-based USD weakness when the US Federal Reserve kept interest rates unchanged. Steady buying eventually saw stop loss orders triggered above 0.6900, however there was insufficient momentum to take the currency any further and the NZD ended the day trading just shy of 0.6900. A combination of negative sentiment and stop loss selling saw the NZD fall sharply overnight, with the currency trading marginally below 0.6800, and it opens this morning looking heavy around it 0.6820.

Australian Dollar: AUD rangebound
It was a quiet day for the AUD yesterday as the currency drifted up after recovering some of the ground it has lost earlier in the week. However, with no data or events released, some selling pressure against the JPY limited the day’s upside. The currency remained sidelined overnight and managed to hold its ground in the wake of the NZD selling. It opens this morning just below 0.7750.

Major Currencies: USD steady after Fed leaves rates unchanged
The FOMC kept to the status quo yesterday and, as anticipated, left interest rates unchanged. The market fully expected this and the USD traded in a rather subdued fashion for much of the day. The dollar was trading at a three-week low on a trade weighted basis prior to the announcement and failed to gain back any ground against the euro, Sterling or yen. The euro opens this morning above the significant 1.3000 handle, Sterling failed to hold 1.9700 and trades at 1.9690 while one USD is worth 120.70 yen as we go to print. The market has turned its focus to the important US non-farm payrolls data out today which is partly responsible for yesterday’s lack of volatility.
Australian Dollar
US ISM manufacturing 49.3 in Jan. The manufacturing ISM dipped back below 50 for the second month in three, suggesting that the industrial sector was at best just idling around the turn of the year, not withstanding the broader economy’s acceleration in Q4.

US pending home sales rise 4.9% in Dec. There is a mild weather factor at play - likely also to boost January housing data - nevertheless it is increasingly clear that most housing indicators have begun to stabilise. Even the Fed noted this in their FOMC statement yesterday.

US core PCE deflator 0.1% in Dec. The personal income and consumption numbers were consistent with the quarterly totals in yesterday’s GDP report. The 0.1% core PCE deflator was in line with our forecast but weaker than the market was expecting, especially given that yesterday’s quarterly data implied a 0.15% result which would normally tend to be revised higher. In the event it was 0.12%, and so rounded down.

US initial jobless claims down 20k to 307k. The sizeable fall in jobless claims last week suggests that the onset of colder weather mid-month was not the only explanation for the prior week’s sharp jump in claims - there may also have been a distortion relating to the Martin Luther King Day holiday on the 15th. That could also explain the surge in continuing claims to the highest in almost a year in the week of the holiday.

Euroland PMI manufacturing 55.5 in Jan. In line with most other European business surveys for January, the PMI dipped a little, but it is still consistent with a rapid pace of industrial expansion.

UK PMI manufacturing 52.8 in Jan. The PMI unexpectedly accelerated in January although it remains just shy of the 53 level which (in the UK) tends to equate with a flat manufacturing picture on the official industrial production data. But as the UK (and indeed US) GDP data show, these days you don’t need strong manufacturing to deliver solid economic growth.

Events Today
Country Release Last Forecast
NZ Dec Net Migration (annual total) 14.8k 15.0k
Aust Dec Trade Balance AUDbn –0.84 –1.45
US Jan Non-Farm Payrolls 167k 200k
Jan Unemployment Rate % 4.5% 4.4%
Dec Factory Orders 0.9% 3.5%
Jan UoM Consumer Sentiment (F)l 98.0a 97.0
Eur Dec Producer Price Index %yr 4.3% 4.0%
UK Jan PMI Construction 57.5 55.5

Latest Research papers/Publication
• Labour force participation in NZ (31 January)
• The will to work (31 January)
• NZ Q4 labour market preview (30 January)
• NZ Weekly Forex Outlook (29 January)
• NZ Economic Overview January 2007 (25 January)
• RBNZ OCR Review (25 January)
• NZ Weekly Forex Outlook (23 January)
• NZ inflation expectations (18 January)
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 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