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Monday, 20 April 2015 - Market Commentary
Daily currency news provided by UkForex

: Last week ended with GBP/USD briefly getting above 1.50 for the first time since early March as UK unemployment dropped to 5.6% its lowest level since September 20008. The accompanying wage growth data was broadly in line with expectations which showed that earnings were 1.7% higher than the three month period a year earlier. Cable reached a high of 1.5045 in late morning but failed to stay above the big number and retreated as US inflation data came out expected showing 0.2% monthly price growth for both the core and overall reading. In the absence of any top tier data from the UK or America until Wednesday it is likely UK election news and the ongoing Greek talks will affect the GBP/USD rate. Cable currently trades at 1.4945.
We expect a range today in the GBP/USD rate of 1.4820 to 1.50
⇒ view full report Charts : GBP/USD GBP/EUR GBP/AUD GBP/JPY GBP/CHF GBP/CAD GBP/CNY
: This week is likely to be dominated by news of a possible Grexit from the Eurozone in the run up to next crunch meeting between Greece and its creditors on Friday. With Greece needing to repay the IMF nearly €1B over the next three weeks the markets are once again preparing for a potential default. Rhetoric from IMF head Christine Lagarde cut an uncompromising tone over the weekend with comments made to the Financial Times once again stating there wouldn’t be any extensions to the repayment deadlines in place and that “patience was running out with the new Syriza government.” EUR/USD is trading at 1.0780 with GBP/EUR sitting at 1.3865. Data-wise, tomorrows German ZEW Economic Sentiment is the first release of any note this week with a slight uptick to 56.0 expected.
We expect a range today in the GBP/EUR rate of 1.3790 to 1.3950
⇒ view full report Charts : EUR/USD EUR/AUD EUR/JPY EUR/CHF EUR/CAD EUR/CNY
: The commodity currencies got a boost over the weekend as the Peoples Bank of China cut its banks reserve ratio requirement by 1%. The extra stimulus saw AUD/USD jump at the beginning of the Asian session from .7785 to around .7830 with NZD/USD moving through 77 cents to currently trade at .7715. Tonight sees RBA head Glenn Stevens giving a talk in New York as well as the release of the minutes from the last RBA meeting held earlier this month. There is no top tier data this week at all from New Zealand so it will probably takes its lead from the Australian data-feed. GBP/AUD is at 1.9125 and GBP/NZD is at 1.9390.
We expect a range today in the GBP/AUD rate of 1.9020 to 1.9270
We expect a range today in the GBP/NZD rate of 1.93 to 1.9510
⇒ view full report
The USD advanced across the board Monday looking to recoup the losses suffered amidst its worst weekly performance in over a month. Investors looked to shorten EURO positions as concerns Greece may default on her debts continue to escalate. The new Syriza government is yet to proffer an acceptable reform policy and as the April 24 deadline is fast approaching there is a sense of mounting anxiety as the threat of a Grexit looms ever larger. Weighed down by the Greek crisis and the ECB bond buying program the euro slipped below 1.0750 as attentions turn to German ZEW Economic Sentiment for direction and guidance through trade on Tuesday.
Data releases:
RBA Governor Stevens Speaks and Monetary Policy Meeting Minutes Released
NZD: No Data
No Data
GBP: 30 Year Bond Auction
⇒ 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 - 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
Agility Forex
USDCAD Overnight Range 1.2223-1.2323 The US dollar is Mr. Toad and it has been on a wild ride this morning. Another bout of weak US economic data (Jobless Claims rose, Housing Starts and Building Permits fell) revered hard won US dollar gains in Europe. USDCAD which had scraped back above 1.2310 prior to the data… Continue reading
Posted on 16 April 2015 | 6:30 pm
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Reversed direction. USD/JPY - Gained ground. GBP/USD - Reversed direction. AUD/USD - Lost a fraction. USD/CAD - Gained ground. NZD/USD - Lost a fraction last week. Continue reading
Posted on 12 April 2015 | 6:51 pm
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Continued its rally. USD/JPY - Gained a fraction. GBP/USD - Continued its slide. AUD/USD - Lost a fraction. USD/CAD - Reversed direction. NZD/USD - Continued treading water last week. Continue reading
Posted on 6 April 2015 | 5:16 pm
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Extended its previous week’s gains. USD/JPY - Continued selling off. GBP/USD - Declined last week. AUD/USD - Lost a fraction. USD/CAD - Gained a fraction. NZD/USD - Showed little change. Continue reading
Posted on 29 March 2015 | 9:13 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

BestExchangeRates in the PressSMH.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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