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Friday, 27 November 2015 - Market Commentary
Daily currency news provided by UkForex

: Trading conditions were rather thin yesterday with it being Thanksgiving in the U.S. GBP/USD was sold off in the early morning session, mostly a result of month-end supply. It fell to a low of 1.5066 before bouncing back above 1.51 in the afternoon session. It’s been steady since amid a lack of economic data and opens this morning at 1.5090. It could be a livelier session this morning however with UK Second Estimate GDP due for release at 9:30.
We expect a range today in the GBP/USD rate of 1.5020 to 1.5145
: EUR/USD has traded sideways over the last 24 hours. It was mostly down to there being no major data releases and with it being a public holiday in the U.S. There is also a lot of caution ahead of next week’s ECB monetary policy meeting too as the central bank are expected to announce a host of policy measures including a cut in deposit rates and an extension of its QE program. For this reason it might be another quiet day today.
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
: You won’t be surprised to hear that the aussie and kiwi have traded steady ranges over the last 24 hours. Equity markets have fallen a bit and both AUD and NZD have fallen back slightly in line. AUD/USD and NZD/USD trade at .7215 and .6550 respectively and GBP/AUD and GBP/NZD are flat too at 2.0910 and 2.3025.
We expect a range today in the GBP/AUD rate of 2.0800 to 2.1045
We expect a range today in the GBP/NZD rate of 2.2900 to 2.3120
⇒ view full report
The Euro moved through 8 month lows on Friday breaking and closing below 1.06 as investors position themselves ahead a make or break week for central bank policy expectations. The 19 nation shared unit came under continued pressure as analysts and investors prepare for an expansion in the ECB’s quantitative easing program. ECB officials are set to deliver a policy update on Thursday wherein it is widely expected they will announce further cuts to deposit rates and an increase in the monthly bond buying package. The Greenback moved to 5 year highs against the Swiss Franc and 8 month highs against a basket of currencies as analysts look to Friday’s non-farm payroll print for further evidence of recovery and a marker to cement a Fed policy update later this month. Most investors expect the FOMC will raise rates when it meets in 2 weeks’ time strengthening demand for USD longs and bullish bets. The divergence in monetary policy saw the CHF tumbled on suggestions the Swiss National Bank will cut its already negative deposit rates further in a bid to combat ECB policy moves and protect the CHF and Swiss trade. Attentions today turn to mid-level housing data and German domestic retail sales for direction through Monday with trader’s primary focus directed toward Thursday’s ECB policy statement and Friday’s Labour Market data as the chief markers of long term direction.
Data releases:
MI Inflation Gauge, HIA New Home Sales, Company Operating Profits and Private Sector Credit.
NZD: Building Consents and ANZ Business Confidence
Retail Sales, Prelim Industrial Production and Housing Starts
GBP: Net Lending to Individuals, M4 Money Supply and Mortgage Approvals
⇒ view full report Charts : USD/EUR EUR/USD USD/JPY

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

WorldFirst Research
China to join an elite club As we come to the end of the week, G10 markets are rather quiet with Thanksgiving bloat making itself felt at Friday’s open. With little to focus on within developed economies, most currency pairs are happily trading sideways. Next week is a very interesting one from a currency perspective.… Continue reading
Posted on 27 November 2015 | 2:10 am
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

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