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Wednesday, 07 October 2015 - Market Commentary
Daily currency news provided by UkForex

: Cable has recovered its losses from earlier in the week as risk-on trade saw money flow back into stocks and commodities. GBP/USD had been as low as 1.5135 earlier in the week now trades at 1.5270 with a push beyond 1.53 possible should this morning’s UK manufacturing production data beat the expected 0.4% expansion. The UK manufacturing sector is suffering on the back of the trade weighted strength of sterling, especially against the Euro as well as the China led stock market volatility. Three of the last four releases have missed target and shown contraction, the latest data is out at 9:30am. Otherwise it’s another relatively quiet day with no data of note from across the pond.
We expect a range today in the GBP/USD rate of 1.52 – 1.5345
: With world stock markets higher again this morning the Euro has been sold off with EUR/USD dropping to 1.1240 after hitting a high of 1.1285 yesterday. This morning has seen yet more bad news from Germany with Industrial Production falling 1.2% Aug/Sept when an uptick of 0.3% was the median estimate. All three of the last releases have missed forecast and this follows on from poor Factory Orders data yesterday. Mario Draghi spoke last night in Frankfurt however given he was hosting the result of an art competition held by the ECB there was little movement in the markets! GBP/EUR has pushed higher in early trade making a push towards 1.36. Tomorrow sees the release of the minutes from the last ECB monetary policy meeting.
We expect a range today in the GBP/EUR rate of 1.3510 – 1.3670
⇒ view full report Charts : EUR/USD EUR/AUD EUR/JPY EUR/CHF EUR/CAD EUR/CNY
: The Aussie and Kiwi have pushed higher over the past 24 hours buoyed by rising equity markets around the world. NZD/USD has broken through 65 and 66 US cents in the past 24 hours to currently trade at .6610. The Aussie which was helped by the RBA holding rates last night sits at .7190. There is no real data of note for the rest of the week for the antipodeans so moves will be dictated by world (Chinese) stocks and tomorrow evenings FOMC Meeting Minutes. GBP/AUD is lower at 2.1235 with GBP/NZD also lower at 2.31.
We expect a range today in the GBP/AUD rate of 2.1150 – 2.1340
We expect a range today in the GBP/NZD rate of 2.3035 – 2.3260
⇒ view full report
The US Dollar edged lower against the majority of major currency counterparts as expectations surrounding the timing of a Federal Reserve rate hike are revised and the timeline extended. A widening in the Trade Deficit coupled with last week’s poor labour market data has forced investors to amend their expectations for rate adjustments with many now looking to March 2016. This extension has hurt the short term outlook for the Greenback as the expected investment inflows that would ordinarily accompany a rate hike have been repositioned and USD long bets revised. The Euro rallied through 1.1200 and 1.1250 through trade yesterday while the JPY struggled to break higher. The BoJ today enters its second day of monetary policy meetings and expectations the central bank will introduce further policy easing measures have capped gains. Attentions today turn to the Bank of Japan’s policy statement and press conference for direction and risk flows.  
Data releases:
AIG Construction Index
NZD: No Data
Monetary policy Statement and BoJ Press Conference.
GBP: Manufacturing Production m/m, Industrial Production m/m and NIESR GDP Estimates.
⇒ 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 previous week’s gains. USD/JPY - Lost ground last week. GBP/USD - Extended its previous week’s gains. AUD/USD - Extended its previous week’s losses. USD/CAD - Gained ground last week. NZD/USD - Gained ground last week. Continue reading
Posted on 7 September 2015 | 8:01 am
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
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Extended its previous week’s gains. USD/JPY - Lost ground last week. GBP/USD - Extended its previous week’s gains. AUD/USD - Extended its previous week’s losses. USD/CAD - Gained ground last week. NZD/USD - Gained ground last week. Continue reading
Posted on 24 August 2015 | 9:15 am
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Gained ground last week. USD/JPY - Showed little change. GBP/USD - Gained last week. AUD/USD - Reversed direction last week. USD/CAD - Lost a fraction last week. NZD/USD - Reversed direction last week. Continue reading
Posted on 17 August 2015 | 5:59 am

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