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Friday, 06 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
: US Non-Farm payrolls knocked it out of the park this morning, indicating the US economy added 295K jobs in private payrolls. The data has sent the dollar higher across all majors as the US continues to stand out as an island of stable growth. The unemployment rate in the US now sits well below the FED mandated 6% at 5.5%. L.S.
We expect a range today of 1.2545 to 1.2665
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
The Greenback continued its upward trajectory as the dollar index touched an eleven and a half year high through trade on Thursday. As markets looked to short Euro positions the USD rallied across the board pushing through 96.45 on an indexed basis against a basket of currencies (its highest level since late 2003) while breaking back above 120 Japanese Yen. The ECB’s commitment to purchase 60b Euro a month through until September 2016 highlighted the divergence in central bank monetary policies and with speculators jumping behind a September Federal Reserve rate increase the number of USD long contracts surged.
Attentions now turn to Friday’s crucial Non-Farm payroll report. With markets anticipating another 235,000 jobs will have been added to the economy throughout February a read that falls short of the mark will likely prompt some USD selling into the weekly close as labour market strength remains a driving force propping up the Greenback.  
Data releases
AIG Construction Index
NZD: No Data
Leading Indicators
Charts : USD/EUR EUR/USD USD/JPY

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

Agility Forex
Oz to me seems like a no-brainer. The Aussie dollar has been beaten down over a commodity slump and a rate decrease by the Reserve Bank of Australia in the face of the ECB’s quantitative easing program. But the real clincher has been the price action over the last few weeks. If you google Aussie… Continue reading
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There’s nothing that can throw cold water on irresponsible populist rhetoric than cold hard reality staring you in the face. It looks as though we are seeing this happen in Greece as we speak. Faced with imminent default, the Greek government stated over the weekend that they would pay their debts owed to the European… Continue reading
Posted on 3 February 2015 | 4:13 am
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Well, what a week! I can’t remember seeing such sustained volatility in the markets for a long time. The over-riding theme remains the almighty dollar, currently at 6 year highs against the Loonie and 11 year highs against the Euro. Although everyone knew it was coming the sheer size of yesterday’s ECB QE announcement caused… Continue reading
Posted on 23 January 2015 | 8:26 pm
OzForex Research
Financial markets over the past year have been defined by diverging monetary policy settings with shifting rate expectations changing the dynamic of broader forex markets. Having initially traded up above the 94 US Cents mark as recently as September the Australian dollar has now lost more than 15 percent over the past four months a… Continue reading
Posted on 22 January 2015 | 7:06 pm
Agility Forex
Mario Draghi did not disappoint today when the ECB announced a QE programme to buy 60 Billion Euro in assets per month until September 2016 . The asset purchases will cover both private and public sector bonds and will begin in March 2015. European focus will now turn to the Greek election on Sunday. After… Continue reading
Posted on 21 January 2015 | 8:49 pm

Foreign Real Estate Investing Do's and Don'ts

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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

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