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

Having tracked sideways for the majority of yesterday’s domestic session investors remained starved of any substantial economic developments. Shedding around 30 basis points, touching a mid-afternoon low just above the 78 US Cents mark the Australian dollar once again has failed to successfully secure higher ground. Coming off highs of 0.7883 and having struggled on approaches towards the 79 US Cents barrier all week,  tonight’s session promises to be an important one given Fed Chair Janet Yellen is due to speak about monetary policy at the Federal Reserve Bank Conference in San Francisco. Around 0.2 percent lower this morning the Australian dollar currently swaps hands at a rate of 0.7815.
We expect a range today of 0.7770 – 0.7900
Charts : AUD/USD AUD/EUR AUD/GBP AUD/NZD AUD/JPY AUD/CHF AUD/CAD AUD/CNY
In what’s a positive for Britain’s economy a report overnight showed UK retail sales rose by their fastest face in three months during February, rising by 0.7 percent, a number which comfortably surpassed consensus estimates. Not sufficient enough however to offer any lasting benefit to the Great British Pound which has remained in a subdued mood since Tuesday’s Inflation shock, a stronger Greenback overnight has also played its role. Opening weaker against the US dollar at 1.4847 the Sterling is also weaker against the New Zealand dollar (1.9583) whilst steady against the Aussie (1.8983).  
We expect a range today of 1.8930 -1.9050
Charts : GBP/USD GBP/AUD GBP/EUR GBP/NZD GBP/JPY GBP/CHF GBP/CAD GBP/CNY
During a flat session which generally favoured a move back into US dollar dominated assets the New Zealand dollar was left to flounder, trading between a low of 0.7554 and a high of 0.7662 when valued against its US Counterpart. Whilst US data flows were positive overnight, indicative of a broader recovery, this evening’s session is shaping as another dominated by US dollar moves ahead of a quarterly GDP print from the United States. Opening this morning around 30 basis points weaker the New Zealand dollar currently buys 75.77 US Cents.   
We expect a range today of 0.7540 – 0.7620
Charts : NZD/USD NZD/EUR NZD/AUD NZD/XPF NZD/JPY NZD/CHF NZD/CAD NZD/CNY
Given heightened tensions in the Middle East the US dollar is stronger when valued against a handful of its major peers this morning. With Oil Prices jumping and US stocks notching up some small gains a lack of data from the world’s largest economy has left interest rate expectations and economic perceptions on hold over the past 24 hours. Whilst US weekly unemployment claims and a preliminary manufacturing index both surpassed expectation, the catalyst for a further round of volatility lies within US GDP numbers this evening. Meanwhile in Europe bond yields, currency valuations and well as broader sentiment indicators threaten to be upset over the coming weeks as Greece to date have struggled to come up with a reform plan detailed enough to ensure further funding is secured. Weaker when valued against the US dollar this morning the Euro currently trades at a rate of 1.0881.
Data releases
No data today
NZD: No data today
Household Spending y/y, Tokyo Core CPI y/y, Retail Sales y/y
GBP: Nationwide HPI m/m, MPC Member Haldane Speaks, BOE Carney Speaks, MPC Broadbent Speaks
Charts : USD/EUR EUR/USD USD/JPY

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

OzForex Research
Being apathetic about currency exchanges rates can be very damaging for your business. Let’s look at some of the dangerous myths that people cling to, to justify keeping their head in the sand. 1. What goes up must come down Or the reverse: that a sinking currency must recover eventually. History tells us that movements… Continue reading
Posted on 24 March 2015 | 9:28 pm
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
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
Agility Forex
Dictators don’t have a good track record of financial management. Just look at Russia, Venezuela, Argentina, etc. if you don’t believe me. Okay, China may be the exception but I don’t think the fat lady has sung there yet. Turkey is channeling Russia big time right now and this will not end well. Stay away… Continue reading
Posted on 9 March 2015 | 3:55 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

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