Here at BER we are dedicated to helping you find the best possible currency exchange rates for United States Dollar Wire Transfers and Travel Money plus market research and information on both banks and non-bank currency providers. Select USD Mid-Rates & Charts (30 days & 3 years) :
: EUR/USD is weaker having traded to the top of its recent range and come near the top of the long term down trend dating from its June 2011 high up at 1.48 . We expect this to be a heavy resistance zone and we may see some choppy moves around this 1.3250 – 1.3350 range. Relative interest rates have provided for recent strength in EUR, and are likely to provide for further support ahead of next week’s FOMC given the focus on the Fed’s forward guidance thresholds. The ECB meeting two days later on August 1st will be a key focus as market participants look to Draghi for his reaction to both the improving outlook for Europe (PMI’s) and the implications of the recent strengthening in Euro. We expect a range today of 1.3240 to 1.3290 Charts :EUR/USDUSD/EUR
: GBP/USD is weaker falling to near term support around 1.5370 – The pair has been trading in a narrow range all week, and we should see this move develop and give new direction coming into next week’s more data heavy calendar which will include on Thursday, the UK MPC minutes and interest rate decision, and on Friday the US non-farm payrolls numbers. We expect a range today of 1.5330 to 1.5400 Charts :GBP/USDUSD/GBP
: All the attention moves the Federal Open Market Committee (FOMC) meetings today and tomorrow, with expectations high that the Federal Reserve will be on the hawkish side and future interest rate hikes will be the focus. The USD reached its strongest level in six weeks against its major peers, as a US recovery gathers steam and traders place their bets. Prior to the FOMC rate statement tomorrow at 2pm, we have GDP in the US out at 8:30am with the gross domestic product climbing at a fast pace of 3 percent last quarter and a big jump higher from a contraction of -2.9 percent in the first quarter of the year. The forecast is a steady 3.1 percent for the world’s biggest economy. We expect a range today of 1.0784 to 1.0844 Charts :USD/CADCAD/USD
: USD/JPY has seen significant weakness today, falling back below the 100 level. The Yen strength was caused by market perception of a “stronger” than expected CPI number, coming in at 0.2% vs 0.1% expected and indicating an increase of inflation in line with the BOJ policies. However, looking at the various components which make up this number we can see that the core drivers of inflation have come from higher energy prices and higher food costs – indicating “bad” cost push inflation, instead of “good” demand pull inflation (via increasing wages). This is not a good sign for the long term health of Japanese companies or the economy. We expect a range today of 98.00 to 98.60 Charts :USD/JPYJPY/USD
Greenback strength continued yesterday as the world’s base currency touched eight month highs against its European counterpart while advancing for an eighth consecutive day against the Yen and Swiss Franc. Improvements in Consumer Confidence helped bolster expectations for positive growth and labour market data and paved the way for an upbeat and hawkish Federal reserve. Analysts expect the Fed to reduce is current bond buying program by a further $10billion when meetings conclude in the US today thus market focus will be keenly driven toward interest rate guidance while second quarter GDP numbers are key in determining the strength of the overall US recovery. Strong data readings and an upbeat Fed should reinforce recent gains ahead of non-farm payroll numbers Friday. The Euro slid to a session and eight month low of 1.3402 yesterday as fresh US and EU sanctions were levelled against Russia. The EU is much reliant on Russian oil and trade ties sparking concerns the sanctions will lead to flatter Eurozone growth. Data releases No Data NZD: Building Consents m/m Prelim Industrial Production m/m Charts :USD/EUREUR/USDUSD/JPY
Bloomberg Television interview with Michael Ward, CEO, North America and Europe for USForex on getting
the Best Exchange Rates when sending money abroad from the US plus his thoughts on what to look for when Buying Property Abroad and which global cities are popular right now.
⇒ watch video
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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