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The Australian dollar continued to drift lower on Tuesday after China’s CB Leading index failed to impress. The Aussie broke into the US85 cent range through daily trade down from the open of 0.8613, however movement was light in anticipation of RBA Deputy Governor Lowe’s talk later on. Lowe sent the Aussie spiralling as he talked about potential further rate cuts under the record low they currently sit at, saying the RBA would make the move if necessary. Overnight offshore data could not help the higher yielding currency as it opens this morning nearly a cent lower at 0.8525 against the Greenback. Today will see construction figures released locally however eyes will be firmly focused on an array of high impact US data later tonight. We expect a range today of 0.8485 – 0.8545 Charts :AUD/USDAUD/EURAUD/GBPAUD/NZDAUD/JPYAUD/CHFAUD/CADAUD/CNY
The British Pound was able to remain flat against the US dollar on Tuesday after an array of local and offshore numbers lead the Sterling back to daily opens. The GBP began to drift lower after a soft mortgage approval release and fell further after an inflation report hearing showed economic concerns for the UK. Bank of England Governor Carney mentioned increased global risk from a political and economic point of view was weighing on the current inflation target and that the BoE is expecting a drop below 1 per cent. Overnight US numbers saw the Greenback sold off late in trade with worrying consumer confidence figures leading the GBP to reach just above Tuesdays open at 1.5707. The Sterling did however manage to extend gains against the higher yielding AUD(1.8419) and NZD(2.0107) with all eyes now focused on the local second estimate GDP for direction. We expect a range today of 1.8380 – 1.8460 Charts :GBP/USDGBP/AUDGBP/EURGBP/NZDGBP/JPYGBP/CHFGBP/CADGBP/CNY
The aggressive monetary easing by China continued to wane on Tuesday and the NZ dollar maintained a negative course against the Greenback. Inflation expectations printed as expected with the results having a muted affect leading the higher yielding Kiwi to continue to remain under pressure. The NZD dropped nearly half a cent during Asian trade from the daily open of 0.7861 and overnight persisted to slide despite mixed releases from the US. The Kiwi opens this morning just above the US78 cent handle and with no data to provide direction today investors will watch US numbers overnight for direction. We expect a range today of 0.7770 – 0.7850 Charts :NZD/USDNZD/EURNZD/AUDNZD/XPFNZD/JPYNZD/CHFNZD/CADNZD/CNY
The Japanese Yen has been under close watch over the last couple weeks sinking sharply lower as the Bank of Japan has made tactical moves introducing further stimulus to help the struggling economy. In the BoJ’s meeting today the minutes have shown opposition to further easing with concerns primarily over the side effects to the aggressive program in place. The Yen reacted quickly showing a slight reprieve to what has been a tough few weeks rallying against most major currencies. In the US overnight investors witnessed a session of volatile trade as the night began with upbeat preliminary GDP figures sending the US dollar higher. Unfortunately for the safe haven currency an unexpectedly disappointing consumer confidence release to end trade overshadowed the strong third quarter growth showing confidence falling to 88.7 this month from 94.1 in October. The poor data saw the Greenback sold off across the board dropping nearly half a cent against the Euro. Tonight all eyes will be fixated on US numbers as there is a myriad of high impact announcements to be released in quick succession. Data releases: Construction Work Done q/q No Data No Data Charts :USD/EUREUR/USDUSD/JPY
Travel money cards (also known as cash passports), allow you load money onto them before your trip or while you are away over the internet.
You can use them to make purchases and withdrawals from ATMs and are safe as they also have credit card-like security with pin number access.
⇒ read article
You may well think that you are being ripped off, but it is not always the case. In simple terms what you see on the news or in the paper or on yahoo finance
is the Middle Rate or mid-rate. Some people want to buy a currency and some people want to sell a currency and there is a gap (or margin) between the price at which you buy and
the price at which you sell. ⇒ read article
There are a number of cost components to making and receiving international payments, most of which are far from transparent to customers: Currency fees, Transit fees, Correspondent bank fees etc ⇒ read article
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