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   Friday, 17 April 2015 - Market Commentary
Daily currency news provided by OzForex

The Australian dollar rallied strongly yesterday in response to a monthly employment report which showed some 37 500 new jobs were added to the labour pool during the month of March. Comfortably surpassing the anticipated number of 15 000, the latest result painted an overall positive picture of employment conditions with the official unemployment rate falling to 6.1 percent. Reaching an overnight high of 0.7822 when valued against its US Counterpart the Greenback has remained largely on the sidelines over the past 24 hours. Opening this morning more than a full cent stronger at a rate of 0.7802 recent profit taking moves suggest the Australian dollar’s upside from existing levels may well be limited.
We expect a range today of 0.7750 – 0.7850
Charts : AUD/USD AUD/EUR AUD/GBP AUD/NZD AUD/JPY AUD/CHF AUD/CAD AUD/CNY
Great British Pound:
In what’s become a familiar theme this week the value of the Great British Pound has once again been bolstered overnight on the back of softer macro indicators flowing from the US economy. Emphasising it remains a story of relativity a thin domestic docket mixed with poor offshore performance has combined well for the Sterling which opens notably stronger when valued against its US Counterpart at a rate of 1.4934. In other moves the Great British Pound is weaker against a notably stronger New Zealand dollar (1.9453) and Australian dollar (1.9133).
Charts : GBP/USD GBP/AUD GBP/EUR GBP/NZD GBP/JPY GBP/CHF GBP/CAD GBP/CNY
In the wake of a slew of poor economic results from the world’s largest economy overnight the New Zealand dollar has benefitted significantly from a weaker US dollar. Given US policy makers have once again failed to narrow forecasts which surround the timing of their first interest rate hike the worlds reserve currency as a result has struggled to maintain its value this week. Pushing comfortably through the 76 US Cents barrier yesterday the New Zealand reached an overnight of 0.7697 when valued against its US Counterpart opening stronger this morning at a rate of 0.7673. In the absence of any local data flows today investors will be looking towards CPI and consumer sentiment results from the US this evening for direction.
We expect a range today of 0.7630 – 0.7720
Charts : NZD/USD NZD/EUR NZD/AUD NZD/XPF NZD/JPY NZD/CHF NZD/CAD NZD/CNY
We expect a range today of 1.9050 – 1.9200
US Stocks have retreated overnight with lingering concerns over approaching corporate earnings keeping investors temporarily sidelined. During a week once again dominated by US Federal Reserve chatter Vice Chair Stanley Fisher emphasised overnight that data would play a determining role when deciding the exact timing of a rate hike, failing to provide any further clarity. On the data front, weekly unemployment claims, building permits and housing starts all failed to reach expectation overnight with the overriding picture showing that the US housing markets contribution to growth during the first quarter was close to zero. Triggering across the board declines for the worlds reserve currency the US dollar is weaker against both the Japanese Yen (118.988) and the Euro (1.0761). Looking ahead this evening mounting concerns over Greece’s lack of progress in reaching a debt agreement will continue to play its part as will data on US Inflation and consumer sentiment.  
Data releases
No data today
NZD: No data today
No data today
Charts : USD/EUR EUR/USD USD/JPY

BER Notebook - FX Market Research & Currency News/Views from our Partners See more >>

Agility Forex
USDCAD Overnight Range 1.2223-1.2323 The US dollar is Mr. Toad and it has been on a wild ride this morning. Another bout of weak US economic data (Jobless Claims rose, Housing Starts and Building Permits fell) revered hard won US dollar gains in Europe. USDCAD which had scraped back above 1.2310 prior to the data… Continue reading
Posted on 16 April 2015 | 6:30 pm
Agility Forex
USDCAD dropped from the early New York highs following comments from and advisor to Japanese PM Abe stating that JPY is too high at 120.USDJPY plunged from 120.80 to 119.75 taking the US dollar down across the board. Overnight,China posted weaker than expected trade data and AUDUSD tumbled, dragging down Kiwi and the Loonie with… Continue reading
Posted on 13 April 2015 | 11:10 pm
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Reversed direction. USD/JPY - Gained ground. GBP/USD - Reversed direction. AUD/USD - Lost a fraction. USD/CAD - Gained ground. NZD/USD - Lost a fraction last week. Continue reading
Posted on 12 April 2015 | 6:51 pm
OzForex Research
The New Zealand dollar reached 99.78 Australian cents on Monday. For the first time since the currency was floated in 1985, it has almost caught up with its neighbouring Australian dollar and parity across the two currencies is imminent. The saving grace for the Kiwi businesses exporting to Australia and the expats sending Aussie dollars… Continue reading
Posted on 9 April 2015 | 11:18 pm
OzForex Research
There’s speculation that the Reserve Bank of Australia is going to have to bring the cash rate below 2% to cope with plummeting oil prices. Collapsing commodity prices are already driving the Australian dollar down, a rate cut will cause it to fall even further and that’s before you consider the chance that the US… Continue reading
Posted on 9 April 2015 | 11:10 pm

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