User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday February 27, 2007 - 21:00:34 GMT
Westpac Institutional Bank - www.westpac.co.nz

Share This Story:
| | Email

Forex News- Westpac Institutional Bank Morning Report

New Zealand Dollar NZD falls overnight on USD strength
The NZD opened strongly yesterday, initially trading above 0.7100 before settling below that level as importers took advantage of attractive levels, both against the USD and against the crosses. The much anticipated inflation expectations data was released in the afternoon showing inflationary pressures are expected to ease to 2.7% for this year and 2.6% for next year. This had no impact on the currency with the NZD ending the day just shy of 0.7100. Broad based USD weakness coupled with unwinding of JPY/NZD
carry trades saw the NZD fall sharply overnight, with the currency opening today just above 0.7000.

Australian Dollar: AUD steady in see-saw trading
The AUD rose to an eight week high around 0.7945 yesterday on yield related demand as speculation grew that continued weak U.S. data may support the case for an interest rate cut in the U.S., further making Australia an attractive yield destination. Higher commodity prices also helped underpin the currency. However it was a different story overnight as USD weakness has seen all of yesterdays gains eroded, with the AUD opening just above 0.7900 this morning.

Major Currencies: Growing tensions with Iran impact on markets
A session packed full of incident saw the USD fall sharply against the yen as soft US economic data, a plunge in global stocks and growing tensions with Iran led investors to pare back long USD positions. USD/JPY fell from 120.00 to 118.50 with yen also finding support on the crosses as traders exited the carry trade. Euro rose to a two month high of 1.3260 against the dollar but struggled to push higher after a story on the wires from unnamed ECB sources suggested that the ECB is now undecided on whether it should signal rate hikes beyond March with inflation consistently below 2%.

US consumer confidence rises to 112.5 in Feb. Consumer confidence posted a surprise rise in Feb, as the Conference Board survey’s respondents apparently shrugged off the concern about renewed gasoline price rises that pushed other sentiment surveys lower this month. The gain was concentrated in the present situation measure, and mainly reflected a stronger assessment of business conditions, although the job market index posted a modest further gain. Expectations were little changed. In contrast, the Richmond Fed survey of manufacturing was very weak at –10 in Feb.

US existing home sales up 3.0% in Jan. Because this report measures sale closures, it actually reflects sales that were agreed earlier, most likely in December. That was when new home sales were rising and the weather was mild. It may also have helped that prices were soft – the median price was down from $222k to just $211k in Jan.

US durable goods orders slumped 7.8% in Jan. Civilian aircraft orders slumped 60%, consistent with reports from Boeing, but even excluding that factor, the message was undeniably soft, with ex transport orders down more than 3%. Core capital goods orders posted their third (and steepest at 6%) decline in four months, suggesting business investment spending will not impress in the first quarter.

Euroland money supply growth hit at an all-time high at 9.8% in Dec-Jan, although growth in loans to the private sector slowed from 10.7% to 10.6% yr. That’s still too strong for the European Central Bank, but it is a sign that higher rates are starting to impact.

The Euroland retail PMI recovered partially this month after last month’s German VAT hike-driven slump. The German CPI showed no evidence of prices continuing to push higher following the VAT rise.

UK mortgage data for Jan from the British Bankers’ Association were mixed – full industry figures due Thurs.

Events Today
Country Release Last Forecast
NZ Jan Building Consents % mth s.a. –4.9% 8.0%
Aus Jan Credit 0.9% 1.0%
Q4 Construction Work Done –2.1% 1.0%
US Q4 GDP Revised 3.5% 2.5%
Jan New Home Sales 4.8% –4.0%
Feb Chicago Fed PMI 48.8 51.0
Jpn Jan Industrial Production 0.9% –1.3%
Jan Retail Sales %yr –0.3% 0.2%
Jan Housing Starts %yr 10.2% n/f
Eur Feb Business Climate Index 1.40 1.45
Feb Consumer Confidence –7 –7
Feb Economic Sentiment 109.2 109.5
Jan Unemployment Rate % 7.5% 7.4%
Jan CPI (F) %yr 1.9%a 1.9%
Ger Jan Retail Sales 2.6% –2.5%
Feb Unemployment ch’ –106k n/f
UK Feb GfK Consumer Confidence –7 –9

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 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 20 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales


Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: High Fri-- 12:30 GMT CA- Retail Sales and CPI. Top economic indicators.


  • POTENTIAL PRICE RISK: HIGH Fri-- 14:00 GMT US- Existing Homes Sales. Top Housing statistic.



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