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   Tuesday, 28 April 2015 - Market Commentary
Daily currency news provided by OzForex

The Australian Dollar opens this morning much higher against its US counterpart buying 78.54 US cents. The local currency treaded water around familiar levels yesterday without much movement, while overnight markets then saw the Aussie climb to highs of 0.7872 due to poor Services data being released out of the US. Furthermore, traders pushing out expectations for a future rate hike in the U.S have also contributed to the recent US sell-off across the board. Coming up in local economic announcements we have RBA Governor Stevens speaking at a banking and wealth summit in Sydney. Investors will be keeping a close eye on this public engagement for any subtle clues regarding future monetary policies.
We expect a range today of 0.7810 - 0.7890
Charts : AUD/USD AUD/EUR AUD/GBP AUD/NZD AUD/JPY AUD/CHF AUD/CAD AUD/CNY
We expect a range today of GBP/AUD 1.9350 – 1.9430
The US dollar has fallen versus most G-10 currencies overnight in what has been a session dominated by thin flows. Whilst US Stocks also closed lower there is a sense already that investors have begun withdrawing their exposures in the lead up to Wednesday’s Federal Reserve Open Market Committee meeting. Highlighting just how important the Fed’s next meeting remains disappointing data flows over the past month have only underscored speculation that the headwinds to the US growth story are only becoming stronger. With the USD/JPY pair moving only slightly off the back of a credit downgrade in Japan there has been no signs of progress in Greece as it was hoped a slight reshuffle in the bailout teams may reduce tensions. With investors expecting much of the same over the coming 24 hour window, volumes and ranges are likely to increase ahead of a slew of central bank activity including the BOI, BOJ, RBNZ and US Federal Reserve.
Charts : GBP/USD GBP/AUD GBP/EUR GBP/NZD GBP/JPY GBP/CHF GBP/CAD GBP/CNY
The Kiwi has rallied overnight due to speculation that the Federal Reserve in the US will not be raising rates anytime in the near future. The NZD/USD remained range bound yesterday while see lows of 0.7590 countered by highs of 0.7666. With no local economic releases scheduled today the NZ Dollar will again look overseas again for any driving price action. However, with trade balance and business confidence data being released tomorrow, and the RBNZ statement coming out on Thursday, the Kiwi is expected to sit on the fence while investors anxiously await these upcoming announcements.
After a rather lacklustre trading session during the day yesterday the Pound Sterling now finds itself stronger when compared to a handful of its major counterparts. The Cable opens this morning at 1.5232 after soft services data that trailed expectations were released along with commentators stating that an upcoming US rate hike is unexpected. All eyes will be on GDP figures being released later in the day for the 1st Quarter of 2015. With GDP being the broadest measure of economic activity this report will give an insight into the country’s economic health, and depending on what is reported will look to have have a significant impact on the Sterling.
Charts : NZD/USD NZD/EUR NZD/AUD NZD/XPF NZD/JPY NZD/CHF NZD/CAD NZD/CNY
Data releases:
RBA Gov Stevens Speaks, CB Leading Index m/m
BOC Gov Poloz Speaks
Prelim GDP q/q, BBA Mortgage Approvals, Index of Services 3m/3m
Retail Sales y/y
S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, Richmond Manufacturing Index
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 - 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
Agility Forex
USDCAD Overnight Range 1.2223-1.2323 The US dollar is Mr. Toad and it has been on a wild ride this morning. Another bout of weak US economic data (Jobless Claims rose, Housing Starts and Building Permits fell) revered hard won US dollar gains in Europe. USDCAD which had scraped back above 1.2310 prior to the data… Continue reading
Posted on 16 April 2015 | 6:30 pm
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Reversed direction. USD/JPY - Gained ground. GBP/USD - Reversed direction. AUD/USD - Lost a fraction. USD/CAD - Gained ground. NZD/USD - Lost a fraction last week. Continue reading
Posted on 12 April 2015 | 6:51 pm
OzForex Research
The New Zealand dollar reached 99.78 Australian cents on Monday. For the first time since the currency was floated in 1985, it has almost caught up with its neighbouring Australian dollar and parity across the two currencies is imminent. The saving grace for the Kiwi businesses exporting to Australia and the expats sending Aussie dollars… Continue reading
Posted on 9 April 2015 | 11:18 pm
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Continued its rally. USD/JPY - Gained a fraction. GBP/USD - Continued its slide. AUD/USD - Lost a fraction. USD/CAD - Reversed direction. NZD/USD - Continued treading water last week. Continue reading
Posted on 6 April 2015 | 5:16 pm

Why is it that when I go into a currency vendor to send money I never get the rate on the news?

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