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Daily Currency Market Commentary
Daily currency news provided by OzForex

The Euro edged marginally lower across the board Wednesday with markets adopting a wait and see approach as events unfold ahead of the critical Greek referendum on Sunday. The 19 nation single currency fell below 1.11 to touch intraday lows at 1.1042 after Greek Prime Minister, Alexis Tsipras, urged voters to rebuff current bailout terms. The address came just 24 hours after Tsipras delivered a conciliatory letter to creditors pleading for a new bailout package wherein Greece would agree to most but not all financier demands. The back flip exemplifies the current predicament facing Tsipras and his leftist government and when coupled with the initial call for a referendum only highlights desperate lengths Greece has been forced to pursue in a bid to regain sovereign control of their countries finances. In macroeconomic news the Greenback rallied on the back of stronger than anticipated data bolstering expectations the Fed will hike rates before years end. Preliminary non-farm payroll numbers surpassed expectations paving the way for a strong print this evening where analysts anticipate 237,000 new jobs will have been added to the economy through June. Coupled with an uptick in manufacturing and construction spending the dollar index climbed nearly 1 percent to 96.32 as attentions turn to a heavy economic docket headlined with critical US labour market data.  
Data releases:
Trade Balance     
NZD: ANZ Commodity Prices m/m
Monetary Base y/y and 10 Year Bond Auction
GBP: Nationwide HPI m/m and Construction PMI
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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
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
BER Team
Each quarter the World Bank publishes data on how much it costs to send money home. The Remittance Prices Worldwide database monitors the cost of sending remittances in major international corridors, which includes 227 country corridors Continue reading
Posted on 17 June 2015 | 8:42 am
BER Team
Add a resurgent carry trade to the list of things keeping Reserve Bank Governor Glenn Stevens from getting a weaker Aussie dollar. A widening yield advantage on the nation’s debt amid a drop in currency volatility is luring investors back to the strategy. Borrowing equally in yen and euros to buy Aussie earned 1.6 per… Continue reading
Posted on 14 May 2015 | 7:47 am

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 SMH.com.au Money

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

We make it Easy to Compare the Exchange Rates & Fees of Banks and Online Currency Exchange & Payment Providers.
This is an information service. By browsing on the website and/or using our comparison tools, you are asking BestExchangeRates to provide you with information about currency exchange products & services from multiple financial institutions. We will try to show you a range of products & services in response to your request for information. The search results do not include all providers and may not compare all features relevant to you. In giving you product information we are not making any suggestion or recommendation to you about a particular product. If you decide to conduct foreign exchange you will deal directly with a financial institution, and not with BestExchangeRates. Rates and product information should be confirmed with the relevant financial institution, see our terms of use for further details. BestExchangeRates may receive fees or other benefits in relation to activity on the BestExchangeRates website. BestExchangeRates may receive remuneration for vendor referral links.    TOS | Full disclaimer | Privacy Statement | Facebook |