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MYR 1.00 = USD Reference Mid-Rate       /
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Daily Currency Market Commentary
Daily currency news provided by OzForex

The world’s base currency enjoyed a mixed session to close out last week as investors and markets responded to a softer than expected GDP report paired against stronger than anticipated consumer spending. Fourth quarter gross domestic product expanded just 2.6%, a read well below analysts’ expectations and a considerable retraction on the 5% growth enjoyed in the 3rd quarter of 2014. The weaker than estimated reading puts pressure on interest rate expectations and raises questions surrounding the strength of the overall economic recovery.  U.S data flows were mixed throughout the last quarter of last year opening the door for suggestions economists have overestimated the strength of the world’s largest economy. Still, the divergence in Monetary Policy will lend support to the Greenback throughout the months ahead as Europe and Japan struggle to fight deflation.
Attentions this week turn to Manufacturing, Trade Balance and Non-Farm Payroll reports for direction amidst a raft of Political speculation as the new Greek Prime Minister, Alex Tsipras, begins his tour of European finance ministers in a bid to write down Greek debt obligations. French, German and Dutch spokesman have all clearly stated that while they are open to negotiate and alleviate the pace of repayments there will be no cancellations.
Data releases
AIG Manufacturing Index, MI inflation Gauge and Commodity Prices y/y
NZD No Data
Final Manufacturing PMI   
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BER Notebook - FX Market Research & Currency News/Views from our Partners See more >>

Agility Forex
Well, what a week! I can’t remember seeing such sustained volatility in the markets for a long time. The over-riding theme remains the almighty dollar, currently at 6 year highs against the Loonie and 11 year highs against the Euro. Although everyone knew it was coming the sheer size of yesterday’s ECB QE announcement caused… Continue reading
Posted on 23 January 2015 | 8:26 pm
OzForex Research
Financial markets over the past year have been defined by diverging monetary policy settings with shifting rate expectations changing the dynamic of broader forex markets. Having initially traded up above the 94 US Cents mark as recently as September the Australian dollar has now lost more than 15 percent over the past four months a… Continue reading
Posted on 22 January 2015 | 7:06 pm
Agility Forex
Mario Draghi did not disappoint today when the ECB announced a QE programme to buy 60 Billion Euro in assets per month until September 2016 . The asset purchases will cover both private and public sector bonds and will begin in March 2015. European focus will now turn to the Greek election on Sunday. After… Continue reading
Posted on 21 January 2015 | 8:49 pm
OzForex Research
The Swiss National Bank gave us volatility on a historic scale last week as it rocked markets by abandoning the nearly three-year-old policy of supporting the value of the Swiss franc relative to the euro at 1.20. The Swiss franc consequently appreciated sharply across the board, distorting flows and liquidity market-wide. While this took the… Continue reading
Posted on 19 January 2015 | 4:09 pm
Agility Forex
Throughout my years on Wall Street and to this day, one question has always bothered me. I have never got a good explanation as to why the price of crude oil and the strength of the USD move in negative correlation. I’ve heard many different arguments but none are foolproof. I’ve even read that there… Continue reading
Posted on 12 January 2015 | 6:24 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

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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