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Friday, 03 July 2015 - Market Commentary
Daily currency news provided by UkForex

: GBP/USD recovered a bit on Thursday following the release of better than expected Construction PMI. It pushed up through 1.56 again but has traded sideways since and opens this morning at 1.5615. US Non-Farm Payrolls were released yesterday and printed only slightly weaker than expectations at 223k vs. 231k. The dollar blipped lower but it didn’t last and it steadied as markets meandered in to the long US weekend.
We expect a range today in the GBP/USD rate of 1.5520 to 1.5680
: The Swedish central bank cut interest rates yesterday to -0.35% in a surprise move. It also expanded its asset purchase programme and said that it was difficult to assess the consequences of what’s happening to Greece. The dollar firmed up through the morning on safe haven demand and EUR/USD fell to 1.1045 ahead of the US jobs data. It has recovered a bit overnight and opens this morning at 1.1105. The Greek vote is due this weekend and as rhetoric on Greece’s future in the Eurozone is likely to continue, so is volatility.
We expect a range today in the GBP/EUR rate of 1.4000 to 1.4120
⇒ view full report Charts : EUR/USD EUR/AUD EUR/JPY EUR/CHF EUR/CAD EUR/CNY
: AUD/USD was dumped lower overnight after the release of weaker than expected Australian retail sales data which printed at 0.3% vs. 0.5% in May. Chinese Services PMI also came in soft overnight and this piled further pressure on the Aussie. It is continuing to fall in the early London session too and trades at .7550 currently. NZD/USD, on the other hand, pushed higher following the US jobs report and has held firm overnight to open this morning at .6700 - it traded to a high of .6735 yesterday.
We expect a range today in the GBP/AUD rate of 2.0550 to 2.0720
We expect a range today in the GBP/NZD rate of 2.3180 to 2.3400
⇒ view full report
With US markets remaining closed for the July 4 long weekend, all eyes were clearly focused on Greece who overwhelmingly voted on Sunday to reject terms of a bailout. In a decision which clearly brings into question Greece’s membership within the European Union, the most recent sign of defiance threatens to create further divisions.  With nearly half the votes already counted, official figures showed 61 percent of Greek’s have already rejected the bailout offer, a decision driving broader flows back into the world’s deepest and safest pockets. Shutting down any hope of a quick resolution, no emergency talks with creditors have been scheduled at this stage. Not surprisingly higher volumes and levels of volatility have followed this morning with the EUR/USD dropping more than 150 basis points, passing through support at 1.1000. With the Greenback being the major benefactor growth and commodity linked currencies open lower across the board in what’s likely to be a bumpy 24 hour window.
Data releases
ANZ job advertisements m/m, MI Inflation gauge m/m 
NZD: No data today
 No data today 
GBP: No data today
⇒ 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 - Reversed direction. USD/JPY - Gained last week. GBP/USD - Reversed direction. AUD/USD - Reversed direction. USD/CAD - Gained a fraction. NZD/USD - Extended its previous week’s losses. Continue reading
Posted on 29 June 2015 | 1:41 pm
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Extended its gains. USD/JPY - Extended its previous week’s losses. GBP/USD - Continued its rally last week. AUD/USD - Extended its previous week’s gains. USD/CAD - Continued its decline. NZD/USD - Continued selling off last week. Continue reading
Posted on 22 June 2015 | 1:53 pm
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Extended its gains last week. USD/JPY - Reversed direction. GBP/USD - Gained ground. AUD/USD - Extended its previous week’s gains. USD/CAD - Extended its previous week’s losses. NZD/USD - Lost a fraction last week. Continue reading
Posted on 10 May 2015 | 7:17 pm
Agility Forex
USDCAD Overnight Range 1.2048-1.2142 The highly anticipated US (and Canadian) employment reports were greeted with a resounding “meh”. NFP was right on consensus and the unemployment rate is 5.4%. EURUSD rose and fell and is currently back to its pre-release level. The Canadian report was worse than expected, which was actually expected, shedding 19,700 jobs.… Continue reading
Posted on 8 May 2015 | 6:37 am
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Continued its rally last week. USD/JPY - Continued gaining. GBP/USD - Reversed direction. AUD/USD - Gained another fraction. USD/CAD - Lost a fraction. NZD/USD - Extended its previous week’s losses. Continue reading
Posted on 3 May 2015 | 5:43 pm

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