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Daily Currency Market Commentary
Daily currency news provided by OzForex

We expect a range today of 2 .0780 - 2.0870
In a move which suggests the US Dollars bull run may still have some further legs left in it, a report overnight showed the world’s largest economy grew at a quicker than forecast pace during the third quarter of this year. With the Commerce Department revealing an annualised growth pace of 2.1 percent, versus the consensus 1.5 percent reported last month, the one area of concern surrounds the fact businesses may be sitting on excessive inventory. Balancing the ledger further, consumer confidence fell during November, dropping to a 12 month-low whilst broader barometers of risk were shaken following signs of heightened conflict on the Turkish/Russian border. Finally finding some support the euro opens marginally stronger when valued against the greenback at a rate 1.0644 whilst the world’s reserve currency is weaker against the Yen at 122.484.
Data releases
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NZD: No data today  
Monetary Policy Meeting minutes
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Why is it that when I go into a currency vendor to send money I never get the rate on the news?

You may well think that you are being ripped off, but it is not always the case. In simple terms what you see on the news or in the paper or on yahoo finance is the Middle Rate or mid-rate. Some people want to buy a currency and some people want to sell a currency and there is a gap (or margin) between the price at which you buy and the price at which you sell. ⇒ read article

What makes sending money internationally so expensive?

There are a number of cost components to making and receiving international payments, most of which are far from transparent to customers: Currency fees, Transit fees, Correspondent bank fees etc ⇒ read article

Advertised Foreign Transfer Exchange Rate - Accuracy Checks

Investigating reports that the exchange rates for International Money Transfers published by Financial Institutions on their websites are better than those available to their customers via Internet Banking. We will publish periodic Exchange Rate Accuracy checks here.⇒ read article

BestExchangeRates in the Press Money

“A check with the foreign-exchange comparison website shows a big variation in the exchange rates available when sending money and buying cash.” ⇒ read article

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