User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday April 4, 2007 - 21:12:43 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex Market News - Westpac Institutional Bank Morning Report

New Zealand Dollar Employee confidence and fixed mortgage rates higher
The NZD started the day around 0.7194 and had an eventful morning leading into the RBA decision. The Q1 Westpac McDermott Millar Employment Confidence Index edged up for the third straight quarter in a row noting that jobs were plentiful and that job security had improved. In addition the NZ Herald reported that RBNZ Governor Bollard had been in discussions with banks in an effort to raise fixed interest rates. The ‘on hold’ decision from the RBA saw the NZD lose its footing and slip to an intraday low of 0.7165. The currency then spent the rest of the afternoon grinding higher. Offshore trading was whippy and sees NZD/USD slightly higher overall. It opens around 0.7205 this morning.

Australian Dollar: AUD down and up on RBA
The early billing of yesterday’s RBA decision as “one of the most exciting in ages” certainly held true. The AUD started the day around 0.8120 but sold off hard as the RBA left rates unchanged to post an intraday low of 0.8065. Strong buying interest out of Asia at these lower levels saw the currency rally for the rest of the day to surprisingly return towards 0.8120 – the same level before the RBA decision. The offshore session saw further strong demand for AUD taking it to another new high of 0.8193. It opens just shy of this level this morning at 0.8185.

Major Currencies: USD continues to weaken on softer data
The USD continued to weaken yesterday following a report from the ISM showed that non-manufacturing index fell to 52.4 in March compared to market expectations of 55. Earlier in the day a private sector report on jobs numbers suggested that 106,000 jobs were added in March; this is often a volatile number in preview to non-farm jobs which is due out on Good Friday. The release of the 15 British soldiers in Iran however has helped soften the blow for the USD. The euro opens today just off the overnight highs at 1.3365. The yen has however fared worse and is opening around 118.70 after hitting a five week high last night at 119.05. The GBP opens at 1.9750 today.

US non-manufacturing ISM slips to 52.4, its slowest since the Iraq invasion four years ago. We had expected a decline, because of exceptionally tough seasonal factors, but even so it is clear that the services sector of the US economy has lost some momentum since the turn of the year. It averaged 55.2 in Q1, down from 57.4 in Q4, though it was not too much softer than Q3’s 55.7 average. Looked at that way, it seems likely that the Q4 rise and Q1 correction lower was largely a weather story, as we have seen in other US economic data.

Plenty of US labour market news overnight. The ISM showed weaker jobs growth in Mar, but its month to month payrolls predictive ability is not reliable. The revamped and improved ADP private payrolls estimate picked the soft Feb payrolls outcome perfectly; its March estimate of 106k supports the view that employment was stronger last month. Also, the Hudson measure of employee sentiment kept rising (consistent with the Conf Board’s stronger job market sentiment reading from last week). And Challenger reported that layoff announcements were down sharply last month, and indeed 25% lower than in March last year. The overall message is on the positive side, however, the job-listing website, reported weaker sales for Q1, on the back of weaker demand for advertising. Other data included soft factory orders in Feb, up 1.0% after falling 5.7% in Jan.

Canadian building permits fell 22% in Feb, led by the nonresidential sector, off 29%, but housing was also weak, down 18%. Very volatile data!

The Euroland services PMI slipped slightly to 57.4 in Mar but still leaves a solid growth picture in place. In Feb, Euroland retailing only recovered 0.3% after falling 0.8% in Jan following the German VAT hike – but the early indications for March are that retailing picked up smartly again. German factory orders jumped 3.9% in Feb, led by a surge in the foreign component, pretty much evenly split between orders from elsewhere in Europe and the rest of the world. The UK services PMI edged up to 57.6 in Mar but the Q1 average of 58.1 was down from Q4’s 59.9.

Events Today
Country Release Last Forecast
Aus Mar Cashcard Retail Index –0.6% n/f
US Initial Jobless Claims w/e 31/3 308k 310k
Ger Feb Industrial Production 1.9% –0.6%
UK Feb Industrial Production 0.1% 0.4%
BoE Repo Rate Decision 5.25% 5.25%
Can Mar Employment Chg 14k 20k
Mar Ivey PMI 60.5 64.0

Latest Research papers/Publication
• NZ Q1 Employment Confidence Index (4 April)
• NZ Q4 GDP Review (30 March)
• NZ Q4 Current Account Review (29 March)
• NZ Q1 Consumer Confidence (28 March)
• NZ Weekly Forex Outlook (26 March)
• NZ Q4 GDP Preview (23 March)
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