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   Wednesday, 29 July 2015 - Market Commentary
Daily currency news provided by OzForex

With attention shifting away from China’s troubled equity market yesterday, broader measures of sentiment turned positive, a move favouring a stronger Australian dollar. Reaching an overnight high of 0.7344 when valued against its US Counterpart, the Aussie dollar opens this morning holding its ground up above the 73 US Cents mark as it currently swaps hands at a rate of 0.7321. In what’s shaping up as another relatively quiet onshore session, US dollar flows dictated by a two day US Federal Reserve policy meeting remain set to dictate short-term price action.
We expect a range today of 0.7280 – 0.7360
In a positive sign for Britain’s economy growth accelerated by 0.7 percent during the second quarter of this year, following a 0.4 percent expansion during the first three months. In line with median forecasts, the majority of growth has been attributed to a dominant services industry with the UK now in the midst of its longest period of continuous growth since falling into recession during the GFC of 2008. Supporting the Great British Pound, the Sterling is stronger against the US Dollar this morning at 1.5603 whilst lower against the Aussie (2.1247) and the Kiwi (2.3225).
We expect a range today of 2.1240 – 2.1350
The New Zealand dollar has managed to capture around half a cent worth of gains when valued against its US Counterpart overnight, buoyed by speculation the RBNZ will soften its easing bias ahead of a speech on the economy today. Repositioning itself up above the 0.6650 mark, the next 48 hour window is gearing up to be a volatile period with investors also looking towards further clues from the US Fed in relation to the timing of their first hike. Stronger this morning the New Zealand dollar currently buys 66.64 US Cents.
We expect a range today of 0.6620 – 0.6720
Breaking a five day losing streak US Stocks rebounded strongly overnight with the attention of investors shifting away from the heavy falls witnessed across China’s equity market earlier in the week. With the US dollar maintaining its ground ahead of a two day Federal Reserve policy meeting, no change in interest rates are expected this month. Given a September hike remains possible, December remains more probable with the speed of the recovery since quarter one weakness key in determining more specific lift off dates. Painting a less optimistic outlook overnight US consumer confidence weakened in July to its lowest level since August 2011, a result which contradicts the steady progress witnessed across broader labour markets. In currency moves the Greenback is stronger against the Yen this morning at 123.598 whilst weaker against the Euro (1.1058).
Data releases
No data today 
NZD: RBNZ Gov Wheeler Speaks   
 Retail Sales y/y   
GBP: Net Lending to Individuals m/m  

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 last week. USD/JPY - Lost a fraction. GBP/USD - Declined last week. AUD/USD - Continued its decline. USD/CAD - Extended its previous week’s gains. NZD/USD - Reversed direction, gaining ground last wee. Continue reading
Posted on 27 July 2015 | 1:26 am
OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Traded sharply lower last week. USD/JPY - Gained ground last week. GBP/USD - Gained ground last week. AUD/USD - Extended its previous week’s losses. USD/CAD - Continued its sharp rally. NZD/USD - Resumed its downtrend last week. Continue reading
Posted on 20 July 2015 | 2:29 am
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
Agility Forex
USDCAD Overnight Range 1.2307-1.2377 The Greek PM cries referendum, the Eurozone Finance ministers cry no extension and Greek citizens just cry. News that the Greek government implemented capital controls and shuttered banks until July 7th spooked FX markets in early Asian trading. A bout of risk aversion in a thin market saw EURUSD plunge to… Continue reading
Posted on 29 June 2015 | 11:44 am
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

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

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