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Monday, 30 March 2015 - Market Commentary
Daily currency news provided by UkForex

: Friday saw the final estimate of Q4 GDP from the States print 2.2% growth. The reading fell just short of the 2.4% expected however market reaction was fairly muted with cable barely moving in the immediate aftermath. The release showed business investment and exports increased however Federal government defence spending declined. The GDP figure supports a Fed rate hike in the second half of the year with September now looking the most likely month for Yellen and co. to finally pull the trigger. Cable currently trades at 1.4825 and with no top tier data from either the UK or America today it looks likely Greece will dominate the news.
We expect a range today in the GBP/USD rate of 1.4795 to 1.4920
: Greece presented its creditors a list of reforms on Friday in an effort to secure further funding to avoid falling into the abyss. The markets expect Greece to run out of cash in weeks and the ongoing impasse will no doubt weigh on the Euro. Greece has submitted proposals that will combat tax evasion, raise duty on cigarettes and alcohol as well as plans to privatise Piraeus port. Creditors are currently going through the planned reforms to see if they deem them worthy of extra funding. The main risk-event this week will be Wednesdays CPI Flash Estimate from the Eurozone with current -0.3% expected to remain unchanged. Should the reading fall then expect the shared currency to be sold off. EUR/USD currently trades at 1.0825 with GBP/EUR at 1.37.
We expect a range today in the GBP/EUR rate of 1.3665 to 1.3790
⇒ view full report Charts : EUR/USD EUR/AUD EUR/JPY EUR/CHF EUR/CAD EUR/CNY
: With a potential Grexit again in the news the Aussie and Kiwi have started the week on the back foot as risk aversion sees USD well bid. AUD/USD is back under 77 cents at .7689 and NZD/USD trades at .7516. Tonight sees the closely followed ANZ Business Confidence survey from New Zealand with tomorrow night’s Building Approvals the first top-tier release of the week from Australia. GBP/NZD is at 1.9715 with GBP/AUD at 1.9280.
We expect a range today in the GBP/AUD rate of 1.92 to 1.9345
We expect a range today in the GBP/NZD rate of 1.9675 to 1.9790
⇒ view full report
The Greenback recouped losses suffered into last weeks close as the Euro sagged across the board amidst concerns Greece will fail to meet the reform measures required to secure additional aid. While spokespersons in Athens remain upbeat, commentary for Eurozone creditors (in particular Germany) are somewhat contradictory calling for a more detailed list of reforms if they are to extend the 240 Billion Euro aid package in 3 weeks’ time.  Greece’s failure to meet the troika’s demands thus far has dampened market optimism throughout a period where macroeconomic data sets appear to be turning. Stronger than anticipated German and Spanish CPI supported expectations of an upbeat Eurozone inflation read as CPI estimates are released today ahead of manufacturing numbers on Wednesday. The disparity in expected monetary policy action drove direction through trade on Monday and continues to weigh heavily on any meaningful Euro relief rally. While Fed action and market expectations have realigned to some degree investors continue to support the world’s base currency on the assumption the U.S Central Bank will adjust rates at some point into the end of the year. Attentions turn to Consumer Confidence today ahead of Non-Farm Payrolls Friday.
Data releases
HIA New Home Sales m/m and Private Sector Credit
NZD: ANZ Business Confidence
Average Cash Earnings and Housing Starts
GBP: Current Account Balance, Final GDP q/q and Revised Business Investment q/q
⇒ 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 - 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
OzForex Research
Major Currency Movements Last Week: EUR/USD Reversed direction. USD/JPY Declined. GBP/USD Reversed direction. AUD/USD Reversed direction. USD/CAD Lost ground. NZD/USD Gained sharply. Continue reading
Posted on 23 March 2015 | 8:25 pm
Agility Forex
America’s influence is waning in the world, militarily, economically, and culturally. The global financial structure which has been in place for decades is unraveling and it will not end well for the United States’ currency and economy. This change is being driven by a desire of many nations with totalitarian capitalism to rid themselves of… Continue reading
Posted on 23 March 2015 | 8:19 pm
OzForex Research
Last Week : EUR/USD - Continued its sharp decline. USD/JPY - Extended its previous week’s gains. GBP/USD - Continued its slide. AUD/USD - Lost ground for the third week. USD/CAD - Extended its previous gains. NZD/USD - Lost a fraction last week. Continue reading
Posted on 15 March 2015 | 11:02 pm
Agility Forex
Dictators don’t have a good track record of financial management. Just look at Russia, Venezuela, Argentina, etc. if you don’t believe me. Okay, China may be the exception but I don’t think the fat lady has sung there yet. Turkey is channeling Russia big time right now and this will not end well. Stay away… Continue reading
Posted on 9 March 2015 | 3:55 pm

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