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Tuesday, 26 May 2015 - Market Commentary
Daily currency news provided by UkForex

: It’s been a relatively quiet start to the week with Germany, France, the UK and US enjoying a bank holiday weekend. Cable currently trades at 1.5410 after dropping from 1.5640 on Friday afternoon as US Core CPI m/m unexpectedly rose from 0.2% to 0.3%. The stronger than expected reading saw USD gain across the odds of a September rate hike improved. Today sees Core Durable Goods numbers from America with a monthly gain of 0.5% expected. Later this week we have second estimates of Q1 GDP from both the UK and America.
We expect a range today in the GBP/USD rate of 1.53 to 1.5520
: Greece continues to dominate the news with conflicting reports over its commitment to repay its creditors emerging over the weekend. Interior Minister, Nikos Voutsis stated that Greece wouldn’t have funds to pay the IMF €300M due next week. However Greek government spokesman Gabriel Sakellaridis appeared to contradict this yesterday by saying the government would maintain repayments for as long as possible. The uncertainty has seen the Euro sold off in early trading today with EUR/USD at 1.0905 down around three cents since Friday. GBP/EUR is at 1.4135 up from a low on Friday of 1.3975. Expect the Greek situation to dominate the news, especially in the absence of any top-tier data from the Eurozone this week.
We expect a range today in the GBP/EUR rate of 1.40 to 1.4240
⇒ view full report Charts : EUR/USD EUR/AUD EUR/JPY EUR/CHF EUR/CAD EUR/CNY
: Both the Aussie and the Kiwi have dropped in early trading this morning as the Greek situation and the better than expected American CPI reading weigh on the commodity currencies. New Zealand has seen a better than expected trade balance figure overnight with a surplus of NZD123M for April and Marchs figure revised up to NZD754M from NZD631M. Australia’s has its quarterly Private Capital Expenditure data released on Thursday however expect moves on US data and from news re: Greece. AUD/USD is at .7785; NZD/USD is at .7280; GBP/AUD trades at 1.98 and GBP/NZD is at 2.1170.
We expect a range today in the GBP/AUD rate of 1.9660 to 1.99
We expect a range today in the GBP/NZD rate of 2.1090 to 2.1320
⇒ view full report
Global stocks finished Monday mostly higher as major markets including Wall Street, London and Hong Kong remained closed for holidays. Leaving investors to further digest Friday’s US inflation report which showed the world’s largest economy is improving, more broadly US dollar strength will likely be tied closely to inflation expectations and outcomes over the coming quarter as policy makers have re-iterated their pledge to raise rates before years end. During a flat start to the new week, the Greenback has consolidated its gains maintaining a value above the 1.21 mark when valued against the Japanese Yen. In other moves the 18-nation Euro has come under further selling pressures as unfavourable headlines from Greece continue to cast fresh doubt over their ability to make new reforms whilst honouring debt obligations by June 5. The Euro is lower this morning at a rate of 1.0975  
Data releases
No data today
NZD: Trade Balance  
No data today
GBP: CBI Realized sales
⇒ view full report Charts : USD/EUR EUR/USD USD/JPY

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

OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Extended its gains last week. USD/JPY - Reversed direction. GBP/USD - Gained ground. AUD/USD - Extended its previous week’s gains. USD/CAD - Extended its previous week’s losses. NZD/USD - Lost a fraction last week. Continue reading
Posted on 10 May 2015 | 7:17 pm
Agility Forex
USDCAD Overnight Range 1.2048-1.2142 The highly anticipated US (and Canadian) employment reports were greeted with a resounding “meh”. NFP was right on consensus and the unemployment rate is 5.4%. EURUSD rose and fell and is currently back to its pre-release level. The Canadian report was worse than expected, which was actually expected, shedding 19,700 jobs.… Continue reading
Posted on 8 May 2015 | 6:37 am
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Continued its rally last week. USD/JPY - Continued gaining. GBP/USD - Reversed direction. AUD/USD - Gained another fraction. USD/CAD - Lost a fraction. NZD/USD - Extended its previous week’s losses. Continue reading
Posted on 3 May 2015 | 5:43 pm
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Extended its previous week’s gains. USD/JPY - Gained a fraction. GBP/USD - Extended its previous week’s gains. AUD/USD - Gained a fraction. USD/CAD - Extended its previous losses. NZD/USD - Reversed direction last week. Continue reading
Posted on 26 April 2015 | 7:57 pm
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Gained ground last week. USD/JPY - Sold off. GBP/USD - Rallied last week. AUD/USD - Extended its gains. USD/CAD - Gave back its previous week’s gains. NZD/USD - Gained ground last week. Continue reading
Posted on 19 April 2015 | 8:33 pm

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 Money

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

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