US Dollar pauses long drop amid Washington political crisis
New Year brings a weak US dollar and chaos in Washington DC with Capitol Hill reduced to a riot zone and President Trump impeached for a second time.
Markets Volatile after US Election & Vaccine news
The recent period has been volatile for currency markets tossed about by US election uncertainty, stimulus spending doubts and both good and bad news from the COVID-19 frontline.
AUD to NZD Forecasts
AUD/NZD forecasts are influenced by three factors; the relative coronavirus impact on both economies, changes in the delta between interest rates in Australia and New Zealand and also the trade war between China and the US.
NZ dollar NZD forecasts for 2020
Bullish NZ dollar forecasts have all been surpassed with the NZD hitting US71c at year-end.
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Coronavirus panic drives US dollar strength
Currency rates were extremely volatile last week as the coronavirus situation worsened day by day with various countries implementing ever-tougher measures to stop the spread of the disease.
Coronavirus spread fears linger – USD strong – AUD at 11 year lows
This week the US Dollar was touching three-year highs when valued against a basket of major currencies. The greenback's traditional role as one of the safe-haven currencies is helped by a domestic economy that is largely immune to the threats of the coronavirus.
New Year Optimism Retreats on US/Iran Tension
The threat of a proxy war between the US and Iran in Iraq has pared back some of the recent gains of "risk-on" currencies.
AUD/GBP Between a Rock and a Hard Place – USD Strength
Both the Australian dollar and British pound sterling have had a hard time of late caught between the rock of the China/US trade war and the Brexit hard place.
Australia Cuts Interest Rates to Record Low
The RBA has cut Australian interest rates to a record low of 1 percent in an effort to boost inflation. The Australian dollar is slightly stronger following the widely expected decision but is expected to lose 5–7 percent of its value before year-end.
GBP’s Bright Start to the Year Is a Distant Memory
The British pound was the worst-performing major currency in the April-June period and remains “impossible to forecast” amid a Tory leadership battle that might force "no deal” or a general election.
Canadian Dollar in the Spotlight After Surging to 16-Week High
Lifted by oil, economic data and the Fed, the Canadian dollar has soared against the US dollar to a 16-week high and has reached even more impressive milestones against the pound, euro and Australian dollar.
Westpac Cuts Australian Dollar Forecasts, Expects Interest Rates to Halve This Year
The struggling Australian dollar will lose a further 5 percent of its value against the US dollar and pound before the year is out, and 3 percent against the euro and New Zealand dollar, Westpac predicted on Friday.
AUD/NZD at 10-Week High and “Likely to Run Higher From Here”
The Australian dollar-New Zealand dollar exchange rate rose on Friday to a 10-week high as traders continue to make bets on monetary policy divergence between the RBA and RBNZ. Even higher rates are expected by teams at TD Securities and Societe Generale.
Get Ready for Sterling’s “Big Finish”; Australian Dollar at 2-Week Low
Goldman Sachs is backing British MPs to soon find a way through the current political deadlock, after which a “big finish” is expected by the British pound. Meanwhile, pessimism surrounds the Australian and New Zealand dollars, both of which have fallen to multi-week lows.
Banks Bet Against Aussie, Kiwi Dollar
For much of this year, banks have been betting on further Australian dollar deprecation, but after last week’s RBNZ shocker, they have also given a thumbs down to the New Zealand dollar.
Shocking Loss for New Zealand Dollar After RBNZ Says a Rate Cut Most Likely
The New Zealand dollar plummeted on Wednesday after the RBNZ said its next move on interest rates was likely to be a cut.
Australian Dollar: Last Week’s Price Action Suggests Further Declines
Given what should have been obvious advantages, the Australian dollar’s inability to gain against the US dollar last week is an ominous sign that suggests further Aussie depreciation in the near term.
Australian, New Zealand Dollars Rise Most on Hopes for US-China Trade Deal
The Australian and New Zealand dollar currencies have been the best performing majors in recent days. Each has gained nine-tenths of a cent against the US dollar since Thursday, with appreciation fuelled by the market’s upbeat mood towards a potential US-China trade agreement.
New Zealand Dollar Jumps After RBNZ Says It Won’t Lower Interest Rates
The New Zealand dollar leapt on Wednesday in response to the latest remarks from the RBNZ, which said that interest rates in New Zealand would not be lowered this year or next, wrong-footing investors who had adjusted FX positions to account for lower rates.
Australian Dollar in the Headlines This Week; Latest RBA Forecasts Due
With a number of Australian data releases, RBA statements and forecasts on the economic calendar, the Australian dollar is likely to be in the headlines this week, for good or bad.
US Dollar Posts Worst Day in 7 Weeks After Fed Cuts Interest Rate Forecasts
The US dollar was sold heavily on Thursday in the aftermath of midweek announcements by the Federal Reserve. Though the Fed raised US interest rates by 25 basis points, as widely expected, it lowered its expectations for rate hikes in 2019, to the disappointment of dollar investors.
Australian Dollar Lacks Inspiration Following RBA Minutes, Looks Cheap Versus CAD, JPY
The Australian dollar continues to stagnate in the aftermath of Monday's RBA meeting minutes and ahead of this week’s meeting of the US Federal Reserve. Barring surprises, the Aussie is likely to remain well supported against the British pound, Canadian dollar and Japanese yen.
AUD/USD Forecast at $0.75 in 3 Months’ Time; Potential for Extreme AUD/GBP Moves on Wednesday
The Australian dollar has offered broad stability in recent days—a welcome change from last week’s sharp decline. The Aussie will likely trade higher over the coming months, Goldman Sachs has said, although anything goes for AUD/GBP on Wednesday as a vote of no confidence in the British Prime Minister takes place.
More Good News for Aussie, Kiwi; Not So Great for Bitcoin
The Australian and New Zealand dollar currencies gapped higher on Monday after the US and China agreed this weekend to suspend new tariffs on goods worth several hundred billion dollars. Meanwhile, bitcoin sank back below $4,000.
USD Slumps as Fed Signals Less Rate Hikes Ahead; AUD, NZD to Benefit Most
In a speech on Wednesday, Fed Chairman Jerome Powell signalled that US interest rates are close to “neutral.” As a result, the US dollar suffered one of its sharpest intraday falls this year.
AUD, NZD Lead the Pack; No Imminent Recovery for CAD (SocGen)
The Australian and New Zealand dollar currencies were way out in front this week on the list of top performing FX majors. The Canadian dollar, meanwhile, continues to suffer from what is now a technical bear market in crude oil. Sterling is again under Brexit-related pressure amid reports of potential UK ministerial resignations.
GBP, AUD, NZD Jump as UK-EU Reach Deal on Financial Services
The mood was buoyant in foreign exchange markets on Thursday following news that the UK has achieved a deal with the EU on financial services that would give London’s banks continued access to European markets post-Brexit. Together with the pound, currencies that benefit from the switch to “risk on,” like the Australian dollar and New […]
Dollar Strikes 16-Month High; Euro FX Down in the Dumps; Mexican Peso Falls Sharply
Developments outside the US allowed for the dollar to appreciate against a basket of currencies to a sixteen-month high on Wednesday. The ICE-maintained US dollar Index, which provides a weighted-mean measure of the greenback’s value against the euro, British pound, Swiss franc, Canadian dollar, Japanese yen and Swedish krona, traded above 97.0 for the second […]
Experts Turn Bullish on Australian Dollar
The Australian dollar is saying “no” to the 70 US cents level as it rallies on Thursday along with Chinese stock markets. The Aussie also continues to appreciate from long-term lows against the pound and euro, and is undervalued against the New Zealand dollar, argues Westpac.
Australian Dollar, New Zealand Dollar Plumb New Depths; AUD/CAD at 8-Year Low
In foreign exchange markets, the Australian and New Zealand dollar currencies are highly correlated. Given recent sentiment, it was no surprise, then, to see both make fresh multi-year lows on Thursday. Market commentators see little changing for the Antipodes in the near term.
Yen Falls to 9-Month Low and Era of Cheap Money Ends in Hong Kong
The US dollar was the best of the majors on Thursday—it broke to a nine-month high versus the yen and forced a retreat in the Australian dollar back to the low $0.72s. In Hong Kong, commercial lending rates have been raised for the first time in twelve years, indicating the beginning of the end for cheap money in the region.
Australian Dollar Has Best Week in 9 Months; Sterling Has a Shocker
A gain last week of 1.9 percent marked the Australian dollar’s best weekly performance versus the US dollar since December. The Aussie rebound continued with a touch of the $0.73 handle on Friday. Australia’s currency had been worth less than $0.71 just 10 days earlier. It settled for the week at $0.7285. Further to gains […]
AUD, CAD and NZD Continue to Fall
A better-than-expected print for Australian GDP growth was unable to prevent further Australian dollar weakness on Wednesday. After a short-lived jump on the 0.9 percent second-quarter reading (0.7 percent growth expected), the Aussie fell early in the European session to a two-year low of 71.45 US cents. In the hours following GDP, it also lost […]
Westpac: Risks to the New Zealand Dollar Increase
FX traders will be thankful for calm in emerging markets on Tuesday after spectacular falls in recent days. While other trends continue unabated, most notably the rising US dollar and falling euro, Westpac are weighing in on the New Zealand dollar, suggesting that an RBNZ cut is now more likely than ever before.
Dollar and Yen Soar on Flight to Safety; Turkey Leads Turmoil in EM FX
The US dollar and Japanese yen soared on Friday as traders fled risk-sensitive currencies. Turmoil in emerging market FX is being led by the Turkish lira, which fell 15 percent in twelve hours after President Trump doubled tariffs on Turkish steel and aluminium imports.
Canadian Dollar at Multi-Month Highs; NZD/CAD Sinks to Lowest Since December
Entering the second trading week of August, the Canadian dollar remains at or near multi-month highs against many of the world's major currencies. The "loonie" has been well supported since the end of June following a hawkish repricing of Canadian interest rate expectations.
Australian Dollar Benefits from Sales and Export Data; RBA to Dominate Next Week
The Australian dollar was the best performing major during Friday’s European session. The “Aussie” rallied by as much as 0.8 percent to rates above 74 US cents after robust Australian economic data.
US Dollar on the March; Markets Yet to Price in Full Extent of Fed Hikes, Says SEB
The US dollar made inroads against most of the world’s currencies on Thursday as trade fears forced investors into safer assets.
Yen Weakness Persists and New Zealand Dollar Jumps on Inflation
The yen fell on Monday to two-month lows against the pound and euro, and recovered only slightly from Friday's six-month low against the US dollar. Meanwhile, the New Zealand dollar surged midway through Tuesday's Asian session after upbeat news on inflation.
NZD Outlook: Inflation Data to Set the Tone for the Coming Months
Tuesday’s second-quarter inflation data will set the tone for the New Zealand dollar for the rest of the summer, say banks. With inflation risks skewed to the downside, a lower kiwi is more likely than not.
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New Zealand Dollar Heading to US$0.64
The New Zealand dollar will be worth only 64 US cents within the next twelve months, say economists at Westpac.
ANZ Bank Exchange Rates Compared
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Trump Slaps Tariffs on Allies but Calm Prevails Ahead of US Jobs Data
The big news for investors on Thursday was Washington’s confirmation that steel and aluminium products reaching the US from Europe, Canada and Mexico – all important allies – would be subject to trade tariffs. Foreign leaders raged against the decision and announced plans for immediate retaliation. On Tuesday, Washington had already announced tariffs on $50 […]
New Zealand Dollar Slumps on RBNZ; Ringgit Does the Same on Shock Election Result
The New Zealand dollar and Malaysian ringgit dominated the headlines during Thursday’s Asian session; both for disappointing reasons. Holders of New Zealand dollars had to watch their currency drop more than a percent against the US dollar in the hours following the meeting of the Reserve Bank of New Zealand, to just 69.1 cents – […]
There’s a Crisis in Argentina: Central Bank Moves to Prop Up Peso with 40 percent Interest Rate
Spare a thought for the Argentine peso. The ill-fated currency of South America’s second largest economy lost 6 percent of its value last week, taking its twelve-month loss to 30 percent. Now at 21.82 per US dollar, the peso is worth less than at any point since Argentina’s fixed exchange rate system was abandoned in […]
Higher Yields Support Dollar’s Best Week Since Trump Elected
It was a disappointing end to the week for the US dollar but enough was achieved between Monday and Thursday for it to record its best week since bubbling over in the aftermath of Donald Trump’s election in November 2016. Investors piled into dollars as yields rose amid a massive increase in the supply of […]
BER-News: Bitcoin below $US10K mark (again)
Among the world’s ten most actively traded currencies, it was the Chinese yuan that was leading the pack approaching the end of the Asian business week. Last week: majors all down Aussie dollar (AUD) was down last week, retreating from US0.80 cents, on Australia’s disappointing rise in private sector wages, their massive contraction […]
BER-News: Cryptos hung onto recent gains.
Last week’s much-improved US inflation data had the desired effect on US rate expectations which have adjusted to indicate a 100% probability of the Federal Reserve raising interest rates in March. Ordinarily, such a revision to expectations would fuel a transfer of hot money into US dollars, yet dollar traders continue to chart their own […]
FX Calm Amid Broader Market Carnage; Dollar, Yen and Bitcoin Benefit
During a week which saw global equity markets suffer their largest losses in two years and broader market volatility pick up, foreign exchange markets were surprisingly calm. A flight to safety benefitted the US dollar, which finished higher against a basket of currencies for the second consecutive week; and the Japanese yen, which at one […]
Markets Upbeat Ahead of FOMC and Trump Decision; Korean Won Best in Asia-Pac
Ahead of major announcements in the coming days, investors were in surprisingly good spirits on Wednesday, indicated by a stronger New Zealand dollar, won, rupee and a faltering yen. Weakness in Asia-Pac FX would have been forgiven ahead of Thursday’s announcements by the FOMC (Wednesday in the US and Europe), Bank of England and Donald […]
Asia-Pac Currencies Make Waves Against Euro After ECB Extends Asset Purchases
Currencies in the Asia-Pacific region made sweeping gains against the euro on Thursday night after the European Central Bank announced a cautious approach to the removal of monetary stimulus. Further to a zero percent interest rate, the ECB is currently buying €60 billion worth of assets (bonds) each month, with the goal of keeping eurozone […]
Philippine Peso at Eleven-Year Low and Australian Dollar Falls on CPI Miss
The hearts of those holding Philippine pesos were broken on Tuesday after the currency slipped to its weakest level against the dollar in more than eleven years. The peso weakened by 33 centavos to 51.85 per dollar. The peso wasn’t alone in falling against the dollar; most Asia-Pac currencies did the same as the greenback […]
Citi Bank Goes Against the Grain; Predicts Bank of Canada Rate Hike on Wednesday
As reported on Friday, the Canadian dollar ended last week with its largest one-day drop against the US dollar since January following disappointing economic data. The data signalled to markets that the Bank of Canada would hold steady on interest rates – currently at 1.0% – at its meeting on Wednesday, and the probability implied […]
New Zealand Dollar Continues to Fall; Now Worth Less Than USD 0.7
Holders of New Zealand dollars are still suffering on Friday as the currency continues to fall following last night’s news that New Zealand will be led by a Labour government, with Jacinda Ardern at the helm. In the twenty-four-hour period leading up to 4pm in Wellington, the New Zealand dollar weakened nearly 2.25% against the […]
Yen Unmoved by Exports and NZD Slumps Ahead of Decision on New Zealand’s Future Government
For Asia-Pac currencies, Thursday’s session was dominated by political nervousness in New Zealand and a busy economic calendar. In terms of data, Japan kicked things off a little before 9am in Tokyo with the country’s latest trade figures. Export growth of 14.1% in the year to September matched market expectations, more or less. Exports have […]
SGD and NZD Weaken After Economic Data
The Singapore dollar weakened against the US dollar on Tuesday morning after data showed that non-petro exports plunged 11% in September. Ahead of the data’s release, analysts had forecast an unchanged reading. September’s number means that Singapore’s exports declined on an annual basis by 1.1%, from growth of 16.7% in the year to August. USD/SGD […]
RBNZ Offers Little for NZD Traders and Trump Trade Is Back On
The Reserve Bank of New Zealand left interest rates on hold at 1.75% on Thursday morning in its first meeting without former governor Graham Wheeler. Grant Spencer, working under the title of ‘Acting Governor’, delivered the bank’s message to financial markets, and it was a message that gave traders little to get their teeth into. […]
Political Uncertainty Weighs on New Zealand Dollar and Euro in Aftermath of Elections
General elections in New Zealand and Germany have produced uncertain or surprising outcomes and political parties in both countries must now spend the coming days and weeks striking cross-party deals in the hope of forming coalition governments. In New Zealand, the incumbent National Party, led by Bill English, won 58 seats, putting it just shy […]
Moody’s Downgrade the UK and Elections Begin in New Zealand, Germany
US ratings agency Moody’s has downgraded the UK’s credit rating from Aa1 to Aa2 over concerns for the future of the UK’s public finances. The ratings outlook is now “stable”, from “negative”. Moody’s stripped the UK of its AAA rating back in 2013. “The outlook for the UK’s public finances has weakened significantly since the […]
Asia-Pac Takes a Hit as Fed Sticks to Guns on Rate Hike, Balance Sheet Normalization
Currencies in the Asia-Pacific region fell against the US dollar on Thursday morning after the Federal Reserve signaled that it would raise interest rates again this year and would begin shrinking its balance sheet in October. The Fed funds rate was left unchanged at its current range of 1–1.25%. Although the majority of economists had […]
New Zealand Dollar Jumps as New Election Poll Suggests National Party Victory
The New Zealand dollar jumped by three-quarters of a percent against many of the majors on Wednesday evening after the latest election poll showed a clear swing in public opinion back towards the incumbent National Party. New Zealand’s general election will take place in three days’ time, on Saturday September 23rd. NZD/USD is now seen […]
ABM Amro Has “Strong Conviction” on Future Dollar Weakness; Predicts 12 percent Rise in AUD and NZD
New forecasts from Dutch bank ABN Amro see continued weakness in the US dollar heading into and throughout 2018. “We have a strong conviction that the US dollar has entered a multi-year downtrend,” said ABN’s Georgette Boele. The dollar will be hardest hit against “growth sensitive and commodity currencies,” according to the bank, which include […]
Sterling Soars, Yen the Casualty at the End of Eventful Week
The British pound rose on Friday to its highest level against the dollar since the UK’s historic ‘Brexit’ vote in June of last year. By lunchtime in London, the pound was buying $1.3616, capping a brilliant fortnight in which it has risen from rates close to $1.29. On minor profit taking, the currency settled back […]
New Zealand Dollar Remains Heavy as Election Looms
The New Zealand dollar sank on Monday morning against the other FX majors amid uncertainty over New Zealand’s future government and on the back of a continuation in weak sales data. Advanced voting in New Zealand’s general election begins on Monday, ahead of election day on September 23rd, and while polls indicate no clear favourite, […]
Asian Currencies Plunge Against CAD After Bank of Canada’s Surprise Rate Hike
To the surprise of many, the Bank of Canada raised interest rates on Wednesday to 1.0%, from 0.75%, which sent currencies in the Asia-Pacific region tumbling against the Canadian dollar. The Bank of Canada had been expected to raise the cost of borrowing again this year, following a quarter-point hike in July, but most analysts […]
Mixed Opinions on Yen as Currency Gaps Higher Following North Korea’s “Unprecedented” Test
The Japanese yen gapped higher on Monday morning following the test of a hydrogen bomb this weekend by North Korea. The bomb was described on North Korean state media as being one of “unprecedentedly big power.” With current sanctions against Pyongyang seemingly insufficient, in response to the latest provocation, US President Donald Trump said that Washington […]
Data Fails to Lift AsiaPac Currencies
A better than expected Chinese manufacturing PMI failed to lift the yuan or Australian dollar on Thursday morning against a US dollar determined to end the month in the green. The Chinese PMI for the manufacturing sector came in at 51.7 for August, slightly ahead of the market forecast of 51.3 and July’s reading of […]
AUD/NZD Breaches 1.1, Bank of Korea to Meet and US Dollar Shows Its Metal in Recovery
On Wednesday morning, the Australian dollar-to-New Zealand dollar exchange rate came within three pips of making a sixteen-month high after it finally breached 1.1 – the major technical resistance level in this rate. A rally slightly above 1.1 on March 16th (to 1.1019) was quickly rejected and preceded a three-month decline in AUD/NZD to levels […]
NZD/USD Might Fall to 0.69 in Coming Weeks, Says UOB
On Wednesday on BestExchangeRates, we highlighted the troubles of the New Zealand dollar and described how the Treasury’s downgrade of economic growth forecasts sent the currency to multi-month lows against several major currencies. We also added this short summary of the kiwi’s outlook and year so far: “The New Zealand dollar has come unstuck in […]
Government Forecasts Add to New Zealand Dollar Woes, Currency at 14-Month Low Versus EUR
The New Zealand government piled misery onto the New Zealand dollar on Wednesday with its announcement that it had revised downward its forecasts for economic growth this year and next. Treasury officials said that growth for the year to June 2017 would likely come in at 2.6%, from earlier expectations of 3.2%, and have forecast […]
Australia Adds 28k Jobs, AUD/NZD and AUD/GBP Rally to Multi-Month Highs
Fuelled by a return to “risk-on” amid easing geopolitical tensions and ahead of a crucial employment report, the Australian dollar rose broadly and was the currency world’s best performer yesterday. Notable exchange rates include AUD/NZD, which rallied to a fifteen-week high of N$1.087, and AUD/GBP, which rallied to a four-and-a-half-month high of £0.616. A notable […]
Yen at 8-Week High as Investors Flee to Safe Havens and Singapore’s Economy Outperforms
Amid growing tensions between the US and North Korea, investors fled on Thursday to the safety of the Japanese yen, gold and Treasuries. Earlier this week, US president Donald Trump had promised to lay “fire and fury” on North Korea should any attempt be made by the rogue nation to harm the US. Not one […]
Hong Kong Dollar Surprises with Best Day in 18-Months and RBNZ to Stay on Hold Until 2019
On Wednesday, a single explosive hour formed the basis of what became the Hong Kong dollar’s best day since February 2016. A little after 6am in London and 1pm in Hong Kong, the Hong Kong dollar suddenly took off, forcing USD/HKD down from levels around 7.826 to 7.8116. And while a 0.18% move might seem negligible […]
Drama in Asia as the Yuan Spikes to 10-Month High Amid Speculation of a Wider Trading Band
Tuesday’s Asian session was stirred by a surprise surge in the Chinese yuan. Starting around 9:30am in Beijing, the yuan began rallying strongly against the dollar, with offshore rates declining (the yuan strengthening) to 6.7024 by 1pm, from rates earlier in the session around 6.73. Onshore yuan easily broke the 6.7 level and as of writing […]
NZD/USD Expected to Fall to 0.71 by Year-End, Inflation Expectations Weaken Kiwi Ahead of RBNZ Meeting
The New Zealand dollar fell back below $0.74 against the US dollar during Monday’s Asian session after the Reserve Bank of New Zealand said that respondents in their latest quarterly survey of inflation expectations were more pessimistic than they had been three months ago. Business managers and professionals now see annual inflation running at 1.8% […]
Dollar Has Best Day Since January After Solid Jobs Report
The US dollar ended the week on a high, posting its best day in more than six months following Friday’s solid US employment data. The US Dollar Index (DXY) surged from levels in the high 92s to the high 93s after the US Bureau of Labor Statistics said that non-farm payrolls had risen by 209,000 […]
“Most important Data Release in Australia” Turns Aussie Dollar Cold, Now a Great Time to Convert AUD
Headline CPI growth in Australia fell below market expectations on Wednesday, disappointing those seeking reasons for potential RBA hawkishness at their August 1st meeting. The Australian Bureau of Statistics (ABS) said on Wednesday morning that consumer prices rose in the second quarter by just 0.2% – down on the market forecast for 0.4% and below […]
A Scare for NZD as Contagious Disease Is Found in New Zealand Cattle for the First Time
Within the past several hours, a scare relating to the New Zealand dairy industry has caused sudden moves in the New Zealand dollar. Between 1:45pm and 2:15pm (Auckland, GMT+12), NZD/USD, NZD/EUR and NZD/JPY each fell by 0.4% – equivalent to falls of roughly 30 pips, 25 pips and 35 pips respectively. The moves happened quickly […]
Sterling Predicted to Fall 15 percent Before Year-End and RBA Deputy Cools Australian Dollar
The British pound is set to fall by as much as 15% by the end of 2017 according to Guy Petcho of Voya Investment Management. Petcho, who formerly was a part of George Soros’ investing team, said in an interview with Reuters on Friday that a turn for the worse in UK economic growth will […]
Yen Falls After BoJ Admit Defeat on Inflation and Can’t Stop Australian Dollar as Currency Approaches 0.80 vs. USD
Officials at the Bank of Japan (BoJ) said today that they were pushing back the time frame for achieving their 2% inflation target to the end of 2019, marking yet another defeat in the bank’s long-term battle against deflation. When the target was introduced by BoJ Governor Haruhiko Kuroda in 2013, it was forecast that […]
New Zealand Dollar Hits 1-Month Low Versus EUR and GBP, 3-Month Low Versus CAD
The New Zealand dollar continued yesterday to retrace its broad May-June uptrend, falling to a one-month low against the British pound and euro, and to a three-month low against the Canadian dollar. NZD/GBP, NZD/EUR and NZD/CAD fell to 0.5583, 0.6293 and 0.9305 respectively. Although the kiwi has fallen across the board in recent weeks, it […]
Yen Falls for Fourth Consecutive Week as BoJ Works to Drive Rates Down, Says Will Buy an “Unlimited” Number of JGBs
The Bank of Japan (BoJ) are in a battle to maintain extreme levels of monetary policy stimulus – a battle which, to win, must necessarily weaken the Japanese yen. On Friday, the yen locked in its fourth consecutive weekly loss against the US dollar, its seventh such loss against the New Zealand dollar, and it […]
Will the RBA Follow Hawkish Lead Set by Other Central Banks?
At 04:30 GMT on Tuesday, traders will learn the latest decision on interest rates by Australia’s central bank, the Reserve Bank of Australia (RBA). The decision will also be accompanied by a statement from the bank. While rates are expected to be unchanged at their record low of 1.5%, there is a sense of anticipation […]
Hong Kong Authorities Post Warning on “Dangerous Situation” in Housing Market and RBNZ Keep Cool on Interest Rates
“We have to warn our people about the dangerous situation of the property market,” said Hong Kong’s Financial Secretary, Paul Chan, today. In an interview with Bloomberg’s Haslinda Amin, Chan expressed concern about a potential housing market correction in Hong Kong, which is currently the world’s most expensive city for property. In 2016, Hong Kong […]
Yen Threatens Major Level Against THB, Falls to Multi-Month Lows vs. NZD and AUD Following Surprise Japanese Trade Deficit
The market received surprising trade data from Japan on Monday. What had been expected as a ¥43 billion trade surplus for the month of May was actually a deficit of ¥203 billion. April’s surplus had been ¥480 billion. The data came as a surprise to many given that the Japanese economy had seemingly been picking […]
Yen to Fall Most Versus New Zealand Dollar, Says Bank of America Merrill Lynch After BoJ Maintains Status Quo
The Bank of Japan (BoJ) stuck with the status quo on Friday, choosing to preserve extreme monetary policy stimulus with the goal of boosting Japanese growth and inflation. Inflation, which has been the bane of central bankers in Japan for much of the past two decades, remains low. Statistics Japan said in May that annualized […]
New Zealand Dollar Finally Turns Following FOMC and Weaker Than Expected GDP
A combination of this morning’s FOMC meeting and weaker than expected GDP data pushed the New Zealand dollar down against a broad group of currencies on Thursday. Data released by Stats NZ on Thursday morning showed that GDP rose 0.5% in the first quarter, which although higher than a 0.4% print in the fourth quarter, was comfortably […]
Australian Dollar Unmoved by Fall in Consumer Sentiment
This morning, investors learned that the Westpac-Melbourne Institute (WMI) survey of Australian consumer sentiment fell last month by 1.8% and remained in “pessimist” territory for the seventh consecutive month. The survey is seen by many analysts as an important gauge of the Australian public’s willingness to spend, which is itself an important driver of the […]
New Zealand Dollar Strength Continues, Reaches 7-Month High vs. Canadian Dollar
The New Zealand dollar was the best performing of the FX majors in May. By the month’s end, the currency had gained 2.9% against the US dollar, beating a resurgent euro, which gained 2.6%, into first place. The rapid appreciation of New Zealand’s currency, which has been attributed by Citi Bank to improving trade, strength […]
Australian Dollar at 1-Month Highs Following Better Than Expected GDP
The Australian dollar jumped 0.5% against the US dollar to 0.754 within minutes of this morning’s release of better than expected GDP data. The data, released by the Australian Bureau of Statistics, showed that Q1 GDP grew at 0.3% – slightly stronger than the forecast for 0.2% but a significant fall from growth of 1.1% […]
RBA on Hold and It’s Decision Time for the Philippine Peso as Currency Rallies to 7-Week High
In a decision widely expected by the market, Australia’s central bank, the Reserve Bank of Australia (RBA), maintained the country’s interest rate at its record low of 1.5% today. In an accompanying statement, the RBA’s Governor, Philip Lowe, said that “annualized GDP growth is expected to have slowed in the March quarter,” but that “growth […]
US Dollar Index Falls to 7-Month Low on Poor Jobs Data
The US dollar fell across the board yesterday and the Dollar Index (USDX/DXY) fell to 96.67 – its lowest in nearly seven months – following a highly disappointing US jobs report. For traders, the monthly report, which includes numbers for US non-farm payrolls, average hourly earnings growth, as well as the unemployment and participation rates, […]
AUD Falls Again, Near 1-Year Lows Versus EUR as China Data Beats Australian in the Battle of Greatest Influencer
The Australian dollar fell sharply on Thursday morning, adding to across-the-board losses on Wednesday, as negative economic data from China easily beat positive Australian data in the game for greatest influence, and as iron ore fell to $55 per ton in the NYMEX futures market. As of 03:30 GMT on Thursday, the Australian dollar sits […]
New Zealand Dollar Is Best Performer in May but Big Bank Predicts Lower Value Ahead
Of the FX majors, the New Zealand dollar has been the best performer in May. At the end of yesterday’s New York session, with NZD/USD at 0.754, the pair is up 2.9% since May 1st. By comparison, the kiwi’s closest cousin, the Australian dollar, is down 0.5% against the US dollar. The New Zealand dollar […]
Commodities Support AUD, NZD, INR and Thai Baht Boosted by Better Than Expected GDP
The price of WTI crude oil rose by almost a dollar yesterday to $48.79 – it’s sixth daily gain in the past seven – and prices in the futures market for 62% iron ore held above $60 per metric ton, both of which gave a boost to commodities currencies. Oil rallied after energy ministers from […]
A Decline in New Zealand Dollar Likely as RBNZ Disappoint, Still Sees No Rate Hike Until 2019
The New Zealand dollar has fallen more than a cent against the US dollar following this morning’s RBNZ statement. As expected by the market, New Zealand’s official cash rate was kept at its record low of 1.75%, but the dovish tone of the RBNZ’s accompanying statements has surprised many. “Monetary policy will remain accommodative for […]
Traders Bought the Rumour, Sold the Fact as Euro Falls Slightly on Macron Victory
Former Rothschild banker and centrist candidate Emmanuel Macron is the new French president. Macron secured almost precisely two-thirds of yesterday’s vote (66.06%) and, in doing so, easily fended off his competition, Marine Le Pen, who secured one-third (33.94%). At 39, Macron will become France’s youngest ever president. He also becomes the first president since 1958 […]
AUD/CAD at Six-Month Highs, Is It Time to Get Some Loonie?
Among the FX majors, the Australian dollar and Canadian dollar are considered the most important ‘commodity currencies’, which is to say that the fortunes of each are heavily influenced by changes in the price of commodities or by their respective nation’s ability to sell them. Canada is the world’s sixth-largest oil producer, with oil making […]
Three in a Row for Japanese CPI Growth and Trump Pantomime Continues
Japan’s National Core CPI – an inflation reading that strips out volatile food prices – has risen on an annualized basis for the third consecutive month. For the year ending March-17, core CPI grew 0.2%, matching February’s figure and improving on January’s 0.1%. Although the rate of growth appears slight, it is a welcome development […]
Aussie Falls on CPI Miss and Hong Kong Dollar Slide Continues, Now at Fourteen-Month Lows
Within the past hour, the Australian dollar has fallen sharply following weaker than expected CPI data. Figures from the Australian Bureau of Statistics show that consumer prices grew 0.5% in the first-quarter of 2017 and at an annualized rate of 2.1%. AUD/USD fell from 0.7539 to 0.7508 on the news and, as of writing, trades […]
Yen to Weaken Against US Dollar in Coming Months, Says Citi Bank, and US Protectionism Begins with Trump’s Canadian Lumber Tax
In their latest weekly foreign exchange report, US giant Citi Bank have predicted a rise to 118.0 in USD/JPY in the coming 6-12 months, representing a 7% fall in the dollar buying power of the yen. The yen will depreciate against the dollar as US Treasury yields rebound following future announcements on US fiscal stimulus […]
Euro Jumps to Multi-Month Highs Vs. USD, NZD and AUD: Markets See Macron as Near Certainty for French Presidency as He Faces Le Pen in Election Second Round
There’s only one story in town this morning – the battle for Europe’s future, otherwise known as the French general election. As had been predicted for many months, the pro-Europe, centrist candidate Emmanuel Macron and the far-right, Eurosceptic candidate Marine Le Pen have made it through to the head-to-head second round of voting, to take […]
Get Your New Zealand Dollars This Year Rather Than Next, Suggests Bank’s Latest FX Forecasts
Yesterday, ABN AMRO released their latest FX forecasts for 2017 and 2018. There were few notable revisions, nor was there much in the way of standout predictions, with the exception of one – NZD/USD to rise to 0.80 in 2018. The ‘kiwi’ hasn’t traded at or above 0.80 against the US dollar since October 2014. […]
Highest New Zealand Inflation Since 2011 Pushes AUD/NZD to Six-Week Lows
Consumer prices in New Zealand are rising at their fastest rate in more than five years, said Statistics New Zealand today. CPI rose 1% in Q1, ahead of the market forecast of 0.8% and Q4-2016’s 0.4%. The rise brings annualized inflation to 2.2% – its highest since September 2011. The New Zealand dollar jumped on […]
Dollar Plays Catch Up, European Elections to Begin and Pleasant Surprises on China Data
The US dollar has started the week lower against most currencies as traders play catch up following market holidays on Friday. In Friday’s market update at BestExchangeRates.com, we described how March’s US core inflation fell month-on-month for the first time in seven years, but with many investors away for the Good Friday holiday, we also […]
US Dollar Resilience Forces AUD/USD below 75.00 and Indian Rupee Skyrocketing
Despite what has been described by CNBC as a “shocker” of a US jobs report on Friday and a US attack on Syria – a move certain to have geopolitical ramifications – the US dollar ended the week strongly. Against the Japanese yen, the dollar fell toward 110.10 early in the day on news of […]
World First’s selection of 11 global events for sports lovers in 2016
A new year brings a wealth of sporting delights around the world, from Euro 2016 to the Invictus Games. Here at World First, we help people transfer money around the world. Some of the people we help in 2016 might be out in the US for the Ryder Cup golf, and enjoy it so much […]
World First’s list of 101 things to do around the world in 2016
Want to do something different in 2016? We’ve scoured the world for the biggest, messiest, noisiest, most iconic and, frankly, the weirdest events around the world to compile the ultimate list of 101 things to do around the world in 2016. From sport to music, festivals to the weird and wonderful, we’ve got you covered. […]
Four dangerous currency exchange myths
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 […]
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