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Friday, 27 March 2015 - Market Commentary
Daily currency news provided by UsForex

: 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/USD USD/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/USD USD/GBP
: The Canadian Dollar is essentially flat from yesterday’s close and trading on a tight range the throughout the Asian and European sessions. Governor Poloz spoke yesterday and had no surprises reiterating the core theme from the BoC. Interest rate cut back in January was due to falling oil prices and its threat to our financial stability, but since oil has stabilized, a second rate cut was not needed in March. In the meantime, US GDP released this morning falling short of expectations of 2.4%, printing at 2.2%. Personal Consumption Expenditure was inline printing at 1.1%. University of Michigan Confidence and FED’s Yellen speech on Monetary Policy is on deck today at 10:00 EST and 15:45 EST, respectively. The USD/CAD is currently trading at 1.2510.
We expect a range today of 1.2446 to 1.2545
Charts : USD/CAD CAD/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/JPY JPY/USD
Given heightened tensions in the Middle East the US dollar is stronger when valued against a handful of its major peers this morning. With Oil Prices jumping and US stocks notching up some small gains a lack of data from the world’s largest economy has left interest rate expectations and economic perceptions on hold over the past 24 hours. Whilst US weekly unemployment claims and a preliminary manufacturing index both surpassed expectation, the catalyst for a further round of volatility lies within US GDP numbers this evening. Meanwhile in Europe bond yields, currency valuations and well as broader sentiment indicators threaten to be upset over the coming weeks as Greece to date have struggled to come up with a reform plan detailed enough to ensure further funding is secured. Weaker when valued against the US dollar this morning the Euro currently trades at a rate of 1.0881.
Data releases
No data today
NZD: No data today
Household Spending y/y, Tokyo Core CPI y/y, Retail Sales y/y
GBP: Nationwide HPI m/m, MPC Member Haldane Speaks, BOE Carney Speaks, MPC Broadbent Speaks
Charts : USD/EUR EUR/USD USD/JPY

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

Agility Forex
The US dollar barely budged on the Q4 GDP report (2.2%) and is ending the week on a down note having lost ground across the G-10 spectrum. The debate is still raging as to whether the current bout of US dollar weakness is merely a correction of the massive oversold positioning or perhaps the start… Continue reading
Posted on 27 March 2015 | 6:50 pm
OzForex Research
Major Currency Movements Last Week: EUR/USD Reversed direction. USD/JPY Declined. GBP/USD Reversed direction. AUD/USD Reversed direction. USD/CAD Lost ground. NZD/USD Gained sharply. Continue reading
Posted on 23 March 2015 | 8:25 pm
Agility Forex
America’s influence is waning in the world, militarily, economically, and culturally. The global financial structure which has been in place for decades is unraveling and it will not end well for the United States’ currency and economy. This change is being driven by a desire of many nations with totalitarian capitalism to rid themselves of… Continue reading
Posted on 23 March 2015 | 8:19 pm
Agility Forex
I learned from my years on the “street” to buy on the rumor, sell on the news. Well, the news for weeks now has been the European Central Bank (ECB) starting its quantitative easing program and the Federal Reserve Bank of the United States possibly raising interest rates to ward off inflation and bring America… Continue reading
Posted on 15 March 2015 | 11:53 pm
OzForex Research
Last Week : EUR/USD - Continued its sharp decline. USD/JPY - Extended its previous week’s gains. GBP/USD - Continued its slide. AUD/USD - Lost ground for the third week. USD/CAD - Extended its previous gains. NZD/USD - Lost a fraction last week. Continue reading
Posted on 15 March 2015 | 11:02 pm

Foreign Real Estate Investing Do's and Don'ts

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

Why is it that when I go into a currency vendor to send money I never get the rate on the news?

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

What makes sending money internationally so expensive?

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

BestExchangeRates in the PressSMH.com.au Money

“A check with the foreign-exchange comparison website bestexchangerates.net shows a big variation in the exchange rates available when sending money and buying cash.” SMH.com.au ⇒ read article

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