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Thursday, 26 November 2015 - Market Commentary
Daily currency news provided by UkForex

: The pound appreciated vs. the USD yesterday as UK Chancellor Osborne delivered his Autumn Statement. Growth forecasts for 2015-16 were left unchanged at 2.4% but revised up to 2.4% and 2.55 for 2016-17 and 2017-18 respectively. Debt as a share of GDP was forecasted to fall too. GBP/USD spiked to 1.5118 on the news. It then pushed higher in the late afternoon session as the USD weakened and reached a high of 1.5135. It’s settled back since and opens this morning at 1.5075.
We expect a range today in the GBP/USD rate of 1.5020 to 1.5190
: EUR/USD came under a lot of selling pressure yesterday and fell under 1.0600. It recovered slightly during the afternoon session as the dollar got sold off and it reached an intra-day high of 1.0640. It’s been steady since and opens this morning at 1.0610. The euro is also weaker vs. the pound and GBP/EUR trades at 1.4210.
We expect a range today in the GBP/EUR rate of 1.4170 to 1.4245
⇒ view full report Charts : EUR/USD EUR/AUD EUR/JPY EUR/CHF EUR/CAD EUR/CNY
: Q3 Australian capital expenditure data printed well below market expectations overnight and it saw AUD/USD gap from .7260 to .7215. It remains lowly this morning and trades at .7215 currently. NZD/USD on the other has gone the other way and has appreciated slowly throughout the night after trade data came in a bit better than market expectations. The pair opens in London at .6570.
We expect a range today in the GBP/AUD rate of 2.0800 to 2.0940
We expect a range today in the GBP/NZD rate of 2.2850 to 2.3050
⇒ view full report
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
⇒ view full report Charts : USD/EUR EUR/USD USD/JPY

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

Money Exchange TV
Posted on 26 November 2015 | 6:39 am
WorldFirst Research
Osborne uses some slack to smooth the path Yesterday’s Comprehensive Spending Review and Autumn Statement from Chancellor George Osborne was a non-event for currency markets. Osborne’s ability to be able to smooth out spending cuts in the short term whilst still maintaining projections of a budget surplus in 2019/20 has come from a forecasted improvement… Continue reading
Posted on 26 November 2015 | 1:46 am
WorldFirst Research
Only one story dominated markets yesterday and it wasn’t the pontificating of Monetary Policy Committee members on interest rates and the state of the UK economy. The news that a Russian jet had been downed by Turkish forces set markets on edge and hyped up fears that the mishmash of coalition forces, the Free Syrian… Continue reading
Posted on 25 November 2015 | 6:30 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
WorldFirst Research
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

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