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Friday, 22 May 2015 - Market Commentary
Daily currency news provided by UkForex

: The pound got a boost yesterday from a very strong Retail Sales figure for April which printed 1.2% growth for the month. With the markets expecting 0.4% the much better than expected print saw cable rise from 1.5525 in early trading to push through 1.56 after the release. It traded as high as 1.5690 by mid-afternoon as US data missed target. Unemployment Claims, Flash Manufacturing PMI, Existing Home Sales and the Philly Fed all printed in the red which resulted in a moderate dollar sell-off. Today sees Mark Carney speaking twice in Portugal and Fed Chair, Janet Yellen appearing at a conference in Rhode Island we also have CPI data from the States.
We expect a range today in the GBP/USD rate of 1.56 – 1.5815
: The markets appear relatively calm at present despite the ongoing impasse between Greece and its creditors. There was little movement on the back of the release of the ECB monetary policy meeting minutes nor on the back of the latest round of PMI data from the Eurozone. EUR/USD is currently trading at 1.1165 up from a low 1.1080 yesterday morning benefitting from the soft US data. GBP/EUR has risen over the past 24 hours from around 1.3970 to currently trade at 1.4035 having run out of steam on an attempt at 1.41 yesterday afternoon. German IFO Business Climate Data is released this morning with a slight fall to 108.3 expected. Mario Draghi is due to talk in Portugal shortly.
We expect a range today in the GBP/EUR rate of 1.3965 – 1.41
⇒ view full report Charts : EUR/USD EUR/AUD EUR/JPY EUR/CHF EUR/CAD EUR/CNY
: The commodities have risen against the Greenback on the back of the latest tranche of soft US data. AUD/USD has pushed up from .7865 to sit at .79 currently. NZD/USD is .7375. The past 24 hours has seen some big moves in GBP/AUD which hit 1.99 yesterday afternoon, a rise of nearly 5 cents! GBP/NZD got close to cracking 2.15 yesterday but has slipped back down to 2.1260.
We expect a range today in the GBP/AUD rate of 1.9635 – 1.99
We expect a range today in the GBP/NZD rate of 2.1130 – 2.1390
⇒ view full report
The Greenback rally stalled overnight as investors reassessed positions after another series of mixed macroeconomic data announcements. Despite a dip in average unemployment claims existing home sales and manufacturing throughout the Mid-West both fell well short of analysts’ expectations prompting a reluctance to deepen long positions. The selloff saw the Euro move back through 1.11 as a stronger than anticipated Manufacturing read bolstered confidence in activity across the Eurozone. The 19 nation block unit found added support in a narrowing yield gap as German bunds rallied. The tapering spreads have helped fuel the Euros run back from decade lows at 1.05 and we saw intraday highs of 1.1181. The advance was however capped with markets avers to lengthen positions as the ECB prepares to flood the market printing more money to increase the pace of bond purchases throughout June. Attentions now turn to Central Bank Figureheads and Draghi and Yellen both front the wires while U.S CPI will act as the primary fundamental driver on the docket for Friday.
Data releases:
No Data
NZD: No Data
Monetary Policy Statement and BoJ Press Conference
GBP: Public Sector Net Borrowing, MPC Member Shafik and BoE Governor Carney Speaks    
⇒ 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 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
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Extended its previous week’s gains. USD/JPY - Gained a fraction. GBP/USD - Extended its previous week’s gains. AUD/USD - Gained a fraction. USD/CAD - Extended its previous losses. NZD/USD - Reversed direction last week. Continue reading
Posted on 26 April 2015 | 7:57 pm
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Gained ground last week. USD/JPY - Sold off. GBP/USD - Rallied last week. AUD/USD - Extended its gains. USD/CAD - Gave back its previous week’s gains. NZD/USD - Gained ground last week. Continue reading
Posted on 19 April 2015 | 8:33 pm

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