BestExchangeRates compares the latest Foreign Exchange Rates from Banks & leading Currency Brokers to find you the best deals for your International Money Transfers and Travel Money/Card transactions. We also provide quick currency converter calculators, up-to-date foreign exchange research, news, charts and information and reviews of currency brokers.
Save Time & Money - Compare Bank & Broker Foreign Exchange Rates for :
: 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
: With US Thanksgiving today North American markets will be quite thin once the European session ends, leaving us with the potential for some erratic movement on any surprises the rest of the day. The OPEC announcement regarding production will be at 10:00 AM EST today. Consensus has built over the last 48 hours that there will not be a cut as Saudi Arabia wishes to continue to test how low we can go in an attempt to pressure the Shale oil production coming on line in the US. The market reaction still could be a coin toss on this announcement as it is hard to know how priced in this is in energy markets. Without a doubt this should weigh on the Loonie, however the positive that could offset some of the pressure is oil sands producers confirming they can continue to be profitable at $40 to $60 pbl oil. Canadian current account data improved from -9.9B to -8.4B when the market anticipated a -10.3B reading, causing USDCAD to attempt a break of 1.1230 again. We expect a range today of 1.1210 to 1.1300 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
Once again the US economic indicators took centre stage last night overshadowing the minor European releases to give direction to the markets. The statistics surprised to the downside leading the Greenback to be sold off heavily across a basket of major currencies. Core durable goods orders were down nearly a percent while the labour department announced the number of individuals filing for unemployment benefits increased to 313,000 from a previous number of 292,000 and forecast of 287,000. Personal spending and income were also lower than expected with Chicago PMI, and consumer sentiment similarly missing the mark. The icing on the cake was housing numbers showing pending home sales falling and new home sales increasing substantially less than anticipated. While the markets are envisaging an interest rate rise by the US in 2015 continuing mixed data from the US will need to steady otherwise the timetable will be continually pushed further and further back. The European markets will have their moment in the limelight tonight with German preliminary CPI the highlight. Data releases: HIA New Home Sales m/m, Private Capital Expenditure q/q Trade Balance No Data No Data 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
This is an information service. By browsing on the website and/or using our comparison tools, you are asking BestExchangeRates to
provide you with information about currency exchange products & services from multiple financial institutions. We will try to show you a
range of products & services in response to your request for information. The search results do not include all providers and may
not compare all features relevant to you. In giving you product information we are not making any suggestion or recommendation to
you about a particular product. If you decide to conduct foreign exchange you will deal directly with a financial institution, and not with BestExchangeRates.
BestExchangeRates may receive fees or other benefits in relation to activity on the BestExchangeRates website.
BestExchangeRates may receive remuneration for vendor referral links.
TOS | Full disclaimer | Privacy Statement | Facebook