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Daily Currency Market Commentary
Daily currency news provided by OzForex

With a European and US session lined up with important figure releases the Euro and US dollar remained fairly quiet during Asian trade. The currency pair opened at 1.3817 and barely moved from this mark trading in a narrow 8 point range.
Overnight all eyes turned to the Inflation forecasts from the US. The data released was positive coming in 0.1 per cent ahead of forecast at 0.2 per cent. The release helped the US dollar rally however the upside was limited as these figures are widely regarded by the US Federal Reserve as below where expectations currently sit. This positive data is however widely viewed as enough to see the US Fed continue to taper the monthly asset purchase program which at the moment sits at US55 billion a month.
In Europe the Euro felt the pressure as the German ZEW consumer sentiment was released and figures were shown to be sitting at an 8 month low. The data came in at 43.2 which was 3.1 below expectations.
Overall the Euro did manage to consolidate slightly higher as the session came to a close however opens weaker against the US today at 1.3813. All eyes tonight will be focused on inflation data from Europe whilst in the US Building permits and a talk by US Fed Chair Janet Yellen will be the main event.
Data releases:
MI Leading Index
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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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