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Daily Currency Market Commentary
Daily currency news provided by OzForex

We expect a range today of 2.1400 – 2.1580
US Stocks have continued to track higher during overnight trade, posting their biggest two day rally since 2009. Strongly assisted by a number of strong headline economic readings overnight, data showed US gross domestic product rose at an annualised pace of 3.7 percent, up 2.3 percent during the second quarter of this year. Whilst a separate report also showed the sale of previously owned homes climbed by 0.5 percent in July, weekly unemployment claims declined to a three month low. In a glowing endorsement for the world’s largest economy, last night’s data re-affirms the view that domestic growth is strong enough to withstand the Fed’s first interest rate hike since 2006. With the only real concern now surrounding the lack of domestic inflation as well as offshore weakness, a spike in volatility to levels similar to what was experienced earlier in the week also threaten to derail fed plans to lift rates. In a session favouring the world’s reserve currency the US dollar is stronger against the Japanese Yen (120.975) and the Euro (1.1249).
Data releases
No data today
NZD: No data today   
Household Spending y/y, Tokyo Core CPI y/y, retail sales y/y
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BER Notebook - FX Market Research & Currency News/Views from our Partners See more >>

TorFX Research Team
Protect your International Currency Transfer from Events like ‘Black Monday’ with Risk Management Strategies Just as financial markets began to recover from months of ‘Grexit’ fears and investors started focusing on rate hike speculation again, there was another asset-shaking shift in the form of ‘Black Monday’. The state of China’s economy and the slowing pace… Continue reading
Posted on 27 August 2015 | 4:45 am
BER Team
Two charts that show the woe for emerging market currencies despite a pause in the devaluation of the renminbi, the cause of turmoil across global currencies. The implications — among them a more troubled Chinese economy than previously thought, deflationary strains in western countries and falling equity stocks — are being felt mostly by China’s… Continue reading
Posted on 24 August 2015 | 9:24 am
BER Team
FX markets remain skittish a few hours after New York traders walked in. Oil prices are trading heavy, US stock futures are soft and there aren’t any US data releases to put a bridge over troubled waters. That should keep USDCAD pointing higher for the balance of the day. So much for a sleepy Monday… Continue reading
Posted on 24 August 2015 | 9:09 am
BER Team
Central bank moves to ease uncertainty around currency on global markets after cutting exchange rate for three days running Continue reading
Posted on 14 August 2015 | 12:23 am
Agility Forex
China surprised markets and devalued the yuan by 2%, the first devaluation in 20 years. Asia FX traders bought dollars across the board but those moves started to retrace in Europe, except for the Commodity bloc). As of 6:15 am PDT, Aussie was the biggest loser (down 1.2%) followed by kiwi (0.75%) and then the… Continue reading
Posted on 11 August 2015 | 11:36 am

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

Advertised Foreign Transfer Exchange Rate - Accuracy Checks

Investigating reports that the exchange rates for International Money Transfers published by Financial Institutions on their websites are better than those available to their customers via Internet Banking. We will publish periodic Exchange Rate Accuracy checks here.⇒ read article

BestExchangeRates in the Press SMH.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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