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Friday, 27 March 2015 - Market Commentary
Daily currency news provided by CanadianForex

: EUR/USD is weaker having traded to the top of its recent range and come near the top of the long term down trend dating from its June 2011 high up at 1.48 . We expect this to be a heavy resistance zone and we may see some choppy moves around this 1.3250 – 1.3350 range. Relative interest rates have provided for recent strength in EUR, and are likely to provide for further support ahead of next week’s FOMC given the focus on the Fed’s forward guidance thresholds. The ECB meeting two days later on August 1st will be a key focus as market participants look to Draghi for his reaction to both the improving outlook for Europe (PMI’s) and the implications of the recent strengthening in Euro.
We expect a range today of 1.3240 to 1.3290
Charts : EUR/USD USD/EUR
: GBP/USD is weaker falling to near term support around 1.5370 – The pair has been trading in a narrow range all week, and we should see this move develop and give new direction coming into next week’s more data heavy calendar which will include on Thursday, the UK MPC minutes and interest rate decision, and on Friday the US non-farm payrolls numbers.
We expect a range today of 1.5330 to 1.5400
Charts : GBP/USD USD/GBP
: The Canadian Dollar is essentially flat from yesterday’s close and trading on a tight range the throughout the Asian and European sessions. Governor Poloz spoke yesterday and had no surprises reiterating the core theme from the BoC. Interest rate cut back in January was due to falling oil prices and its threat to our financial stability, but since oil has stabilized, a second rate cut was not needed in March. In the meantime, US GDP released this morning falling short of expectations of 2.4%, printing at 2.2%. Personal Consumption Expenditure was inline printing at 1.1%. University of Michigan Confidence and FED’s Yellen speech on Monetary Policy is on deck today at 10:00 EST and 15:45 EST, respectively. The USD/CAD is currently trading at 1.2510.
We expect a range today of 1.2446 to 1.2545
Charts : USD/CAD CAD/USD
: The Euro is essentially flat from yesterday’s close. The EUR did drop 150 points yesterday and erased about half of its gain from the past 2 weeks. Even though there are signs of improvements, Europe is still treading in choppy waters as low growth and inflation will force the ECB to continue their loose policy for several years. Let’s not forget the situation with Greece, as that will add ongoing volatility to the EUR. The EUR is currently trading at 1.3586.
We expect a range today of 1.3527 to 1.3631
Charts : EUR/CAD CAD/EUR
: The Great British Pound is strong, up 0.35%, from yesterday’s close. No major event risk today, however, Governor Carney did speak and reiterated that the next rate decision will be a hike. Focus still remains on the May 7th elections and the market move accordingly as it will closely follow the string of interviews and debates moving forward. The GBP is currently trading at 1.8594. The Australian Dollar is weak, down 0.25%, from yesterday’s close. Falling ore prices and weaker than expected Chinese industrial profits has added weight to the AUD trading down towards support near 0.9700 this morning. Next level beyond that will come in at the March low at the 0.9620 area. The AUD is currently trading at 0.9743. The New Zealand Dollar is essentially flat from yesterday’s close. The Kiwi is also kept under pressure by falling commodity prices. The Kiwi is currently trading at 0.9470.
Charts : CAD/GBP CAD/AUD CAD/NZD

BER Notebook - FX Market Research & Currency News/Views from our Partners See more >>

OzForex Research
Major Currency Movements Last Week: EUR/USD Reversed direction. USD/JPY Declined. GBP/USD Reversed direction. AUD/USD Reversed direction. USD/CAD Lost ground. NZD/USD Gained sharply. Continue reading
Posted on 23 March 2015 | 8:25 pm
Agility Forex
America’s influence is waning in the world, militarily, economically, and culturally. The global financial structure which has been in place for decades is unraveling and it will not end well for the United States’ currency and economy. This change is being driven by a desire of many nations with totalitarian capitalism to rid themselves of… Continue reading
Posted on 23 March 2015 | 8:19 pm
Agility Forex
USDCAD spiked to 1.2830 on a weak Canadian Wholesale Sales report (-3.1% vs. -0.8% forecast) but has since retreated back to pre-data levels (1.2800). The Loonie was already back-tracking as oil prices continued to leak lower. (WTI $42.28/bbl) and a hawkish FOMC statement could be the straw that breaks the Loonies back. If the FOMC… Continue reading
Posted on 18 March 2015 | 10:31 pm
Agility Forex
I learned from my years on the “street” to buy on the rumor, sell on the news. Well, the news for weeks now has been the European Central Bank (ECB) starting its quantitative easing program and the Federal Reserve Bank of the United States possibly raising interest rates to ward off inflation and bring America… Continue reading
Posted on 15 March 2015 | 11:53 pm
OzForex Research
Last Week : EUR/USD - Continued its sharp decline. USD/JPY - Extended its previous week’s gains. GBP/USD - Continued its slide. AUD/USD - Lost ground for the third week. USD/CAD - Extended its previous gains. NZD/USD - Lost a fraction last week. Continue reading
Posted on 15 March 2015 | 11:02 pm

Foreign Real Estate Investing Do's and Don'ts

Bloomberg Television interview with Michael Ward, CEO, North America and Europe for USForex on getting the Best Exchange Rates when sending money abroad from the US plus his thoughts on what to look for when Buying Property Abroad and which global cities are popular right now. ⇒ watch video

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

BestExchangeRates in the PressSMH.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

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