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   Friday, 27 November 2015 - Market Commentary
Daily currency news provided by OzForex

Having started the day up above the 0.7250 mark when valued against its US Counterpart, the Australian dollar ran into some well-established headwinds following the release of capital expenditure data for the third quarter of this year. Revealing that Australian firms wound back investment spending by 9.2 percent, a number far worse than the expected read of 2.9 percent, an accelerated drop threatens to leave an even larger gap in projected growth and budgetary forecasts over the medium-term. In what’s likely to be session dominated by poor liquidity flows given the US public holiday the Australian dollar opens this morning marginally lower at a rate of 0.7227
We expect a range today of 0.7200 – 0.7300
We expect a range today of 0.6550 – 0.6600
The Great British Pound struggled to mount any meaningful recovery through trade on Thursday and appears stretched on moves above 1.5120/30. With little domestic data on hand to drive direction and volumes spread as the US enjoyed thanksgiving celebrations Sterling bounced about amid support and resistance as investors continue to weigh up diverging monetary policy expectations. Attentions today turn to 3rd quarter GDP estimates for direction into the weekend. We anticipate some volatility in light of thinner volumes however anticipate Cable will remain under pressure as the possibility of a Fed rate amendment looms ever closer.
The New Zealand dollar offered little to excite investors through trade on Thursday succumbing to a tight trading range between 0.6560 – 0.6596. The Kiwi moved to the top end of technical resistance points touching intraday highs at 0.6596 following a stronger than anticipated trade balance print before moving lower and settling into a 10 point bracket throughout the remainder of the trading day. Attentions today are likely to be divided with little headline data across the global economic docket. We anticipate volumes to remain stretched as the US enjoys Black Friday and Thanksgiving weekend celebrations.     
We expect a range today of 2.0750 – 2.1050
US Thanksgiving meant US dollar moves were almost completely absent during overnight trade, with very light volumes seeing the worlds reserve currency remain comfortably within its recent ranges. Contributing very little to broader currency flows, the main moves overnight came from Europe with the shared unit dropping to its lowest level in seven months, assisted by falling bond yields and stronger equity markets. Given accelerated talks that the European Central Bank will unleash further easing when they meet next week, policy makers are considering options which include staggered charges on banks which are hoarding deposits. As part of a broader effort to lift inflation, signs of additional easing only further threaten to undermine the euro’s value which dropped to a 24 hour low of 1.0599. Opening on shaky ground this morning the euro is currently trading at a rate of 1.0606 when valued against its US Counterpart.
Data releases
No data today
NZD: No data today  
Household Spending y/y, Tokyo Core CPI y/y, Spanish Flash CPI y/y

BER Notebook - FX Market Research & Currency News/Views from our Partners View Latest >>

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Posted on 26 November 2015 | 6:39 am
WorldFirst Research
The strength of the USD was all apparent yesterday as it pressed EURUSD below the 1.06 level for the first time since April. The greenback also gained against sterling as investors bet on GBP weakness ahead of a testimony by Mark Carney and three other members of the Monetary Policy Committee. Readers of yesterday’s Sterling… Continue reading
Posted on 24 November 2015 | 6:03 am
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Andrew Barnett shares with you a new currency transfer service (and partner of BER), TransferWise that is a global game changer. Visit Transferwise
Posted on 23 November 2015 | 11:56 am
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This weekend was certainly the quietest in a while with little market-moving news. That lack of news has been echoed through the overnight session and as we open up in Europe a very familiar sight is on show. The US dollar is running higher across the board as investors and traders – who had let… Continue reading
Posted on 23 November 2015 | 3:14 am
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Lost ground last week. USD/JPY - Gained a fraction last week. GBP/USD - Lost a fraction. AUD/USD - Extended its previous week’s gains. USD/CAD - Added another fraction to its fractional gain. NZD/USD - Gained ground. Continue reading
Posted on 23 November 2015 | 3:00 am
BER Team
Asia’s wealthy, anxious as many of their local currencies depreciate, are increasingly lured by the resilience of the Australian dollar, says UBS, the world’s largest private bank. The Aussie strengthened against all but one of 12 major Asian counterparts since September 30 on signs the RBA won’t cut its benchmark interest rate beyond its record-low… Continue reading
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