User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday March 6, 2007 - 20:53:36 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex Research - Westpac Institutional Bank Morning Report

New Zealand Dollar NZD hits 0.6800 as risk aversion thrown to the wind
Opening in the mid 0.6700’s yesterday morning, NZD/USD struggled to hold its footing first up as risk aversion and stop loss selling took the currency to an intraday low of 0.6721. The foray down at these levels was brief though as the currency recovered strongly on buying interest against both the USD and JPY. Another catalyst for the NZD’s reversal was the tentative rebound in Asian stocks – the Nikkei posted a 200 point rise in yesterday’s session. At our close the currency was trading around 0.6800 and struggled to find much more on the topside in overnight trading where the currency touched a high of 0.6822.

Australian Dollar: January trade deficit narrows
AUD/USD opened around 0.7730 yesterday but slumped to an intraday low of 0.7682 as stops were triggered just below 0.7700. Like the NZD, the AUD benefited from a renewed interest in carry trades and
the resurgent Asian equity markets. This saw AUD/USD rebound from its lows and push through 0.7700. January’s trade deficit data was released in early afternoon and was better than expected which saw AUD/USD rally 20 points. Building approvals data was also released posting a fall but this data was largely ignored by financial markets. Offshore trading helped AUD/USD push higher on the back of speculative buying and the currency posted an intraday high of 0.7755.

Major Currencies: JPY weakens as share markets reverse direction
Most activity was again focussed on the JPY yesterday as the currency continued to rally early in our day. However direction soon changed when opening rallies on the Australian, Japanese and Hong Kong share markets saw the JPY quickly reverse direction, with the currency now seeming to have exhausted itself for now after its recent meteoric rise. This theme continued as the new day dawned in each centre, with London and New York also continuing the trend. Elsewhere, USD sentiment was buoyed by slightly better-than-expected data, in particular US productivity and unit labour costs.

US Q4 productivity growth revised down from 3.0% to 1.6% annualised. Q4 productivity growth was revised down sharply, reflecting the downward revision to non-farm GDP growth, although there was a modest offset from a downward revision to hours worked. But the big surprise was the sharply higher estimate for employee compensation in the quarter, which in turn boosted unit labour costs dramatically. But at the same time, unit non-labour costs were revised down sharply.

US factory goods orders fall 5.6% in Jan. Factory orders fell more sharply than expected due to a downward revision to the durables component, previously reported as –7.8%, now –8.7%. Ex transport orders were the main driver of that downward revision. This puts even more pressure on the February durable orders report in three weeks to show a decent bounce: if it doesn’t, then it would become harder to argue – as we do – that the US economy is merely experiencing a weather-related soft patch.

US pending home sales fall 4.1% in Jan. That looks steep but it did not fully reverse the prior month’s rise; the level of sales was the second highest reading since August last year (after Dec). The National Association of Realtors, who compile the data, blamed the weather for the recent swings but maintained that “a modest recovery is likely”.

Former Fed chair Alan Greenspan was quoted as saying that he saw a one-third chance of a recession this year. He did not say what probability he had attached to a recession in 2001 when he tightened rates in mid 2000.

The Bank of Canada left rates unchanged at 4.25% and judged yet again “that the risks to its inflation projection are roughly balanced”. Building permits surged 11.3% in Jan.

Euroland retail sales posted a 1.0% fall in Jan, reflecting the already reported 5.1% drop in Germany, due to the January VAT hike. Euroland GDP growth was unrevised at 0.9% in Q4 last year.

UK retail survey robust. The BRC survey continued to accelerate in Feb, with both same store and total sales measures stronger for the third month running.

Events Today
Country Release Last Forecast
Aust RBA Policy Announcement 6.25% 6.25%
Q4 GDP 0.3% 0.3%
RBA Assistant Governor Edey speech
US Feb ADP Private Payrolls ch’ 126k 100k
Jan Consumer Credit USDbn 6.0 6.9
Fed Beige Book
Ger Jan Factory Orders –0.2% 0.8%
UK Feb Consumer Confidence 84 82

Latest Research papers/Publication
• Rent apart (6 March)
• NZ Weekly Forex Outlook (5 March)
• RBNZ MPS Preview (2 March)
• NZ Weekly Forex Outlook (26 February)
• NZ Weekly Forex Outlook (19 February)
• NZ Household debt: Why it has soared (16 February)
• NZ Q4 Retail Sales Review (15 February)
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

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

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