User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday May 23, 2007 - 21:43:55 GMT
Westpac Institutional Bank -

Share This Story:
| | Email

Forex Market News - Westpac Institutional Bank Morning Report

New Zealand Dollar NZ inflation expectations hold steady in Q2
The NZD traded a very quiet range during yesterday’s local session. Opening around 0.7270 the currency posted a high of 0.7273 and found good support around 0.7260. Inflation expectation data was released during our day and remained at 2.6% – the same pace as Q1. Offshore trading provided more volatility for the currency and it posted an intraday low of 0.7246 after triggering barriers around 0.7250. The NZD then rallied sharply pushing through stops loss levels at 0.7280 and 0.7300 as the broad USD weakened. The currency eventually touched a high of 0.7317 but stalled here as risk aversion again gripped the market following comments by Greenspan on Chinese stocks.

Australian Dollar: Weak USD sees AUD higher overnight
The AUD rallied from off its opening lows yesterday, prompted by offshore demand, with buying noted particularly against the NZD and JPY. The rest of the day was spent trading in a narrow 15 point range. The currency was unable to garner any interest from the release of data from the Westpac-Melbourne Institute Leading Index of Economic Activity which showed an annualised growth rate of 4.4% in March; this compares to its long term average of 4.0%, with the data being an indication of the likely pace of economic growth three to nine months ahead. USD weakness and a stronger gold price saw the AUD rally overnight, with the currency opening just shy of 0.8250 this morning.

Major Currencies: USD weakens as focus on yield differentials returns
Z Although the USD was quiet in our time zone yesterday, the currency fell overnight, initially prompted by the release of minutes from the Bank of England which showed that their recent interest rate hike was unanimous, contrary to expectations, and that some had even considered a larger hike. The USD weakened further as the euro surged when data released showed a surprisingly large rise in eurozone factory orders. The release of this data overnight has further reinforced the markets focus on expectations of yield differentials, with the markets now having priced in two further 25-point rate hikes from the European Central Bank this year. Elsewhere, the Canadian dollar hit a 29½ year high around 1.0820 against the USD on a rally inspired by rising oil prices and interest from foreign buyers of companies in the natural resources sector.

Japan's March all-industry activity index fell 1.4%. That translates into a 0.6% gain from a year ago. By component, services are up 0.7%yr, manufacturing 2.0%, the public sector expanded 0.5%yr and construction is down 4.4%. Now that the release of this index post-dates preliminary GDP its usefulness has diminished.

Euroland industrial orders rose 2.7% in Mar (8.0% yr), much stronger than expected. Quarterly orders growth of 1.8% supports the ECB’s optimistic growth outlook.

UK Mar BoE MPC minutes revealed the Committee voted 9-0 to raise rates by 25bp on May 9-10, and a 50bps hike was discussed, though no member voted for such a move. There was also an unusually direct statement that further hikes could be required if the economy developed “broadly in line with the central expectation”. The hawkish comments saw the GBP move higher.

Can Apr leading index rose 0.4%, as expected. All three manufacturing components rose, while household spending moderated a little. The recent strength is consistent with solid Q2 GDP growth.

Events Today
Date Country Release Last Forecast
24 May NZ Apr Merchandise Trade NZDmn 61 –150
US Apr Durable Goods Orders 3.4% 1.5%
Initial Jobless Claims w/e 19/5 293k 305k
Apr New Home Sales 2.6% 1.5%
Jpn Apr Trade Balance ¥bn 1123 802
Ger Q1 GDP (F) 0.5% a 0.5%
May IFO Bus Climate Index 108.6 109.0
UK Q1 Business Investment 4.5% 1.9%
May CBI Industrial Trends 18 n/f
25 May US Apr Existing Home Sales –8.4% 4.5%
Jpn Apr National CPI %yr –0.1% –0.1%

Latest Research papers/Publication
• NZ Weekly Forex Outlook (21 May)
• NZ Budget 2007 Review (17 May)
• Creaming it (15 May)
• NZ Q1 Retail Sales Review (14 May)
• NZ Weekly Forex Outlook (14 May)
• NZ Budget 2007 Preview (11 May)
• NZ Q1 HLFS Review (10 May)
• House values: shifting foundations (8 May)
• NZ Q1 LCI and QES Review (7 May)
• NZ Weekly Forex Outlook (7 May)
• NZ Q1 labour market preview (2 May)
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