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Thursday, 30 July 2015 - Market Commentary
Daily currency news provided by UkForex

: The pound rallied yesterday and pushed through 1.56 vs. the dollar. At one stage it looked like it might break 1.57, but traded to an eventual high of 1.5687. It was an odd move with the FOMC statement due that evening, but with UK GDP printing onside on Tuesday and with mortgage and lending data coming in slightly stronger than market forecasts yesterday sentiment towards the pound was relatively positive and it was well bid throughout most of the London session. It didn’t last all day though and before long profit taking and month end demand for the USD kicked in, sending GBP/USD back down towards the 1.56 figure, this all happening in advance of the Fed statement. The US central bank made only slight changes to its statement but overall it was interpreted by the market as being hawkish (ish). They said “the labour market continued to improve, with solid job gains and declining unemployment”. The statement also failed to make reference to negative global influences including from Greece and China, another hawkish signal. With expectations for a rate hike in September slowing increasing, the dollar has firmed up following the statement, albeit only slightly vs. the pound. GBP/USD fell to a low of 1.5589 overnight and opens this morning at 1.5615. US GDP and trade data is due this afternoon and if this beats market expectations we could see a further push high in the dollar.
We expect a range today in the GBP/USD rate of 1.5540 to 1.5650
⇒ view full report Charts : GBP/USD GBP/EUR GBP/AUD GBP/JPY GBP/CHF GBP/CAD GBP/CNY
: The dollar has strengthened quite a bit vs. the euro with most of these gains coming after the FOMC statement. EUR/USD slumped under 1.10, breaking through various stops and eventually falling to an overnight low of 1.0940. It’s failed to recover this morning either and trades at 1.0950 currently. Regional German inflation data is due out through today and may get some attention. Meanwhile, Spanish GDP - released this morning – has printed on the weaker side of forecasts and hasn’t helped the euro’s cause. The single currency has lost ground vs. the pound too and GBP/EUR trades at 1.4250 this morning.
We expect a range today in the GBP/EUR rate of 1.4190 to 1.4280
⇒ view full report Charts : EUR/USD EUR/AUD EUR/JPY EUR/CHF EUR/CAD EUR/CNY
: AUD/USD has been steady over the last 24 hours or so. It’s trading towards the bottom end of its recent range though following the release of weaker than expected building approvals data. NZD/USD meanwhile has dropped overnight, mostly as a result of a stronger USD. It opens in London at .6620. GBP/AUD and GBP/NZD trade at 2.1415 and 2.3575 respectively.
We expect a range today in the GBP/AUD rate of 2.1330 to 2.1520
We expect a range today in the GBP/NZD rate of 2.3450 to 2.3670
⇒ view full report
The Dollar Index, a measure of the Greenback against a basket of currencies rose overnight following an upbeat statement from the US Federal Reserve. Stating that the housing and labour markets have improved, evidence of slackness within the labour market have diminished as the economy moves towards a level of full employment. In a result which would support the Feds view, investors look towards this evenings advanced quarterly GDP print which is expected to reveal an economic expansion of 2.5 percent at an annualised rate. With the FOMC next scheduled to meet on September 16, the possibility of rate hike, remains intact, a view sufficient to support USD long positions for the time being.  Opening stronger across the board the US dollar is higher when valued against both the Yen (1.2395) and the Euro (1.0981).
Data releases
RBA Gov Stevens Speaks, Building Approvals m/m 
NZD: No data today    
No data today    
GBP: BOE Carney Speaks  
⇒ 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 - Reversed direction last week. USD/JPY - Lost a fraction. GBP/USD - Declined last week. AUD/USD - Continued its decline. USD/CAD - Extended its previous week’s gains. NZD/USD - Reversed direction, gaining ground last wee. Continue reading
Posted on 27 July 2015 | 1:26 am
BER Team
Overnight Range 1.3020-1.3103 USDCAD took off like a viral video when early New York/Toronto traders found their desks. One look at the overnight FX markets was enough for traders to pull the Loonie from the sidelines and put it in the game. USDCAD grabbed the ball and took off, streaking down field, touching 1.3103 from… Continue reading
Posted on 24 July 2015 | 1:49 am
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Traded sharply lower last week. USD/JPY - Gained ground last week. GBP/USD - Gained ground last week. AUD/USD - Extended its previous week’s losses. USD/CAD - Continued its sharp rally. NZD/USD - Resumed its downtrend last week. Continue reading
Posted on 20 July 2015 | 2:29 am
Agility Forex
USDCAD Overnight Range 1.2307-1.2377 USDCAD popped higher in early New York trading when traders returning from their long weekend took note of WTI prices pushing through the 38.2% Fibonacci level of the March-June range ($54.44) and trading at $54.22.Wti has since bounced back to $54.60/bbl but the Loonie has ignored the move. Last week’s reports… Continue reading
Posted on 6 July 2015 | 2:21 am
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Reversed direction. USD/JPY - Gained last week. GBP/USD - Reversed direction. AUD/USD - Reversed direction. USD/CAD - Gained a fraction. NZD/USD - Extended its previous week’s losses. Continue reading
Posted on 29 June 2015 | 1:41 pm

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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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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

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