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Friday, 28 November 2014 - Market Commentary
Daily currency news provided by UkForex

: The dollar recovered yesterday as investors decided to lock in some profits after the run of weak US data on Wednesday. There wasn’t any data yesterday from America as it was a public holiday. There wasn’t much by way of UK economic data either meaning there was nothing to stop the dollar bids gathering momentum. GBP/USD has fallen from 1.58+ since yesterday morning and opens at 1.5685 today. In other news yesterday, OPEC announced that it would be leaving production quotas unchanged and the price of oil fell again, down to $68 a barrel. The oil-production linked currencies, such as the CAD, felt the impact. In terms of data, it’s a similar day to yesterday – there’s nothing due from either the UK or US – GBP/USD opens at 1.5685.
We expect a range today in the GBP/USD rate of 1.5650 to 1.5745
⇒ view full report Charts : GBP/USD GBP/EUR GBP/AUD GBP/JPY GBP/CHF GBP/CAD GBP/CNY
: The dollar has strengthened vs. the euro too. After starting the European session yesterday at 1.2520 the pair has since fallen to a low of 1.2430, where it opens this morning. German CPI (inflation) data printed in line with market expectations yesterday, although it was still flat at 0.0% m/m. German Unemployment Change was slightly more positive, showing that the country’s jobless rate fell to a record low in November by 14,000. It provided a slight boost to the single currency in the morning but then as the day went on, USD bids dominated. European inflation data is due today and will be eyed closely. German retail sales and French Consumer Spending data have already been released this morning, the latter coming in weaker than forecasts and the former stronger.
We expect a range today in the GBP/EUR rate of 1.2570 to 1.2655
⇒ view full report Charts : EUR/USD EUR/AUD EUR/JPY EUR/CHF EUR/CAD EUR/CNY
: Both AUD and NZD have fallen vs. the dollar, although this doesn’t come as a huge surprise given the broad dollar strength. ANZ consumer confidence data from NZ was stronger than last month’s reading but it didn’t do the kiwi any favours and it continued to drift lower through the overnight session. Both GBP/AUD and GBP/NZD are slightly higher as a result and open the London session at 1.84465 and 2.0020.
We expect a range today in the GBP/AUD rate of 1.8390 to 1.8520
We expect a range today in the GBP/NZD rate of 1.9890 to 2.0080
⇒ view full report
After a previous few trading sessions where the US dollar has taken centre stage last night the Euro stepped into the limelight with an array of high impact data being released. The main announcement was the German inflation figures which disappointed showing the data almost touching 5 year lows. The CPI numbers will bring additional stimulus talks back to the forefront as they have been previously mentioned as an example of an aggressive policy to get the Eurozone’s economy back on track. The Euro continued to fall as ECB president Draghi weighed in continuing to mention the ECB will use whatever is needed to spur growth in the struggling Eurozone. The EUR opens this morning just under half a cent weaker against the US dollar and with Thanksgiving in the US today investors will watch another string of Eurozone releases mainly the CPI flash estimate for direction.
Data releases: 
Private Sector Credit m/m
Building Consents m/m, ANZ Business Confidence
Household Spending y/y, Tokyo Core CPI y/y, National Core CPI y/y, Unemployment Rate, Prelim Industrial Production m/m, Retail Sales y/y, Housing Starts y/y
GfK Consumer Confidence, Nationwide HPI m/m
⇒ view full report Charts : USD/EUR EUR/USD USD/JPY

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

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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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