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   Monday, 30 March 2015 - Market Commentary
Daily currency news provided by OzForex

The Australian dollar moved lower Friday as the commodity driven currency continued to relinquish gains moving back below 0.78. In the absence of any headline data sets the AUD was at the mercy of offshore stimuli and failed to capitalise on general Greenback weakness following a softer than anticipated GDP print and a flat address from Fed Chair Janet Yellen. Profit taking took hold and the Aussie sell off continued for a 2nd consecutive day. Focus now shifts to a relatively busy economic docket headlined by domestic Building Approval and Trade Balance with offshore direction coming from Chinese Manufacturing data. Having touched intraday lows of 0.7756 Friday the AUD opens this morning buying just 0.7744 US cents.
We expect a range today of 0.7620 - 0.7850
Sterling rallied Friday having found support at 1.48 as general USD weakness meant a short term Greenback selloff. Comments from Bank of England Governor Mark Carney did little to sway investors and the Great British Pound took advantage of a softer than anticipated US GDP report while rhetoric from Fed Chair  Janet Yellen failed to inspire. Gains were capped as investors squared positions and backed USD longs with expectations the Fed will move at some point into the end of the year. Attentions now turn to the Current Account Balance Tuesday, Manufacturing PMI Wednesday and Construction PMI Thursday as the directional drivers into the Easter long weekend.
We expect a range today of 1.8990 - 1.9430 
The New Zealand dollar, much like its Australian counterpart, failed to take advantage of general Greenback weakness Friday closing the week at 0.7569. The local docket offered minimal guidance and the Kiwi was left to offshore vices for direction through Friday as profit taking continued and the NZD edged lower for a second consecutive day. Attentions turn to ANZ business confidence and a GDT index report for direction into the week ahead.
We expect a range today of 0.7450 - 0.7650
The US Dollar moved lower into the close on Friday as investors reacted to comments from Fed Chair Janet Yellen and began squaring positions ahead of this week’s Non-Farm Payroll report. Yellen hit the wires at the Federal Reserve’s Monetary Policy Conference in San Francisco suggesting the Central Bank had given “serious consideration” to raising rates and reducing accommodative monetary policy. The comments while somewhat hawkish where very much in line with the March 18 FOMC policy statement and did little to evoke any new Greenback rallies simply reiterating the Fed’s dependence on strengthening macroeconomic indicators. The Greenback did find support as Long USD bets rallied while net euro shorts jumped to record highs. The Euro did enjoyed a short term relief rally Friday buoyed by general Greenback weakness and QE optimism. Continued improvement in macro data sets has fuelled investor confidence and added credence to the ECB’s QE program helping the 19 nation unit hold onto levels above 1.08. Attentions now turn to Prelim German CPI for direction through Monday as investors prepare for Eurozone CPI Tuesday ahead of another critical U.S employment change report Friday.
Data releases
No Data
NZD: No Data
Prelim Industrial Production m/m
GBP: Net Lending to Individuals m/m, M4 Money Supply and Mortgage Approvals

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

OzForex Research
Major Currency Pair Movements Last Week: EUR/USD - Extended its previous week’s gains. USD/JPY - Continued selling off. GBP/USD - Declined last week. AUD/USD - Lost a fraction. USD/CAD - Gained a fraction. NZD/USD - Showed little change. Continue reading
Posted on 29 March 2015 | 9:13 pm
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

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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