User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday March 7, 2007 - 20:04:04 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex Research - Westpac Institutional Bank Morning Report

New Zealand Dollar NZD consolidates ahead of MPS
Yesterday saw a quiet local session as the NZ market took a breath ahead of today’s RBNZ decision. NZD opened a touch above 0.6800 and drifted higher during the morning posting a high of 0.6853. NZD/USD immediately pushed lower following the strong Australian GDP number as NZD/AUD was sold. The rest of the day saw NZD/USD grind slowly higher with the theme continuing in overnight trading – the currency unable to make a convincing break past the 100 day moving average at 0.6852.

Australian Dollar: Rates on hold but strong GDP
The combination of the better than expected GDP data and a positive open for the Australian and Asian equity markets provided a solid bid tone to the AUD yesterday morning. The AUD pushed up from around 0.7745 at the open to post a local session high of 0.7780. However USD/JPY weakness capped any further gains for the AUD. Offshore trading saw AUD/USD touch a high of 0.7790 in very quiet trading conditions. NZD/AUD recovered some ground post the GDP data but the pair drifted slightly higher heading into today’s RBNZ decision.

Major Currencies: Currencies return to normal ranges
US Fed Beige Book: modest expansion with stable prices. Most districts reported modest expansion in economic activity, but several districts noted some slowing. Almost all districts reported that housing markets remained weak. Consumer spending growth was steady in the majority of districts, although some were affected by bad weather. Most districts reported further expansion in labour markets with continued tight supply of skilled and professional workers. Price pressures were little changed overall.

US - ADP private payrolls estimate 57k in Feb. The ADP payrolls estimate was launched with much fanfare last year as a sneak preview of the upcoming Bureau of Labor Statistics payrolls report. But it had some spectacular misses, “predicting” falling jobs when they in fact rose and booming jobs when the official data were sluggish. Because of this, ADP has expanded their survey to cover even more firms, and rejigged their methodology to more fully replicate the way the BLS calculates the data. Their revised profile for 2006 does, it seems, better fit with official private sector payrolls but the real test will come this week: their estimate for private payrolls growth in February is just 57k. That fits with market expectations of a sluggish number; our forecast is 90k (75k excluding government jobs) but we suspect risks are skewed more to the downside.

Former Fed chairman Alan Greenspan said that the decline in US home sales had reached a bottom, according to reports – a comment perhaps intended to offset the impact of his recession chat earlier in the week.

German factory orders down 1.0% in Jan. Orders were revised up sharply from –0.2% in Dec, but gave all that back by falling in Jan, mainly due to a slump in foreign orders of capital goods. With retail sales collapsing in Germany in January (reported last week), economic growth in the first quarter looks like being quite a bit softer than the 0.9% recorded in Q4 2006.

UK consumer confidence edged up slightly in Feb, perhaps reflecting relief that rates did not rise that month. The March BoE monetary policy committee meeting began last night, with the decision tomorrow at noon. We nervously forecast no change in rates. Also, in the UK, the BRC shop price index was little changed in Feb. Its fall in Jan accurately revealed the widespread price discounting that was subsequently captured by the Jan CPI, but there is no such dramatic signal this time round.

Events Today
Country Release Last Forecast
NZ RBNZ Monetary Policy Statement 7.25% 7.50%
Q4 Terms of Trade –1.9% 4.6%
US Initial Jobless Claims w/e 3/3 338k 315k
Jpn Feb Bank Lending %yr 1.7% 1.8%

Latest Research papers/Publication
Eur ECB Repo Rate Decision 3.5% 3.75%
Ger Jan Industrial Production –0.5% 1.0%
UK BoE Repo Rate Decision 5.25% 5.25%
Feb BRC Shop Price Index %yr 1.8% n/f
Can Feb Housing Starts 17.3% –10.0%
Jan New House Prices flat n/f
BoC Governor Dodge Speech

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