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By JOEL HOLMES

U.S. Dollar higher in anticipation for Fed Meeting


Australian Dollar

AUD / USD

Expected Range

0.7900 – 0.8000

The Australian Dollar fell 40 basis points during the American session to post a fresh 2-week low. During the Asian session, the pair tested the 0.8030 resistance level before ultimately turning to the downside. Opening this morning at 0.7960, the Aussie was hit on multiple fronts with mixed Chinese money data weighing on the Australian Dollar. The bearish outlook was further exacerbated by the sharp decline in the Canadian dollar, triggering a further sell-off in both commodity currencies. With the ‘Quantitative Tightening’ announcement widely expected to be released this Thursday, policy makers and indeed traders are positioning themselves for a world with higher borrowing costs, strengthening the outlook of the Greenback and in turn weighing on its counterpart the Aussie. With a quiet day on the domestic economic calendar, investors are treading water ahead of an action-packed Thursday.

Great British Pound

GBP / AUD

Expected Range

1.6900 – 1.7100

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.7200 – 0.7300

The New Zealand dollar is weaker this morning when valued against the Greenback. The Kiwi reached an overnight high of 0.7343 before falling 0.5% for the day to 0.7250, almost a full cent off its high. The USD strength came as the market now expects the Federal Reserve to announce on Thursday the beginning of “quantitative tightening”, with its balance sheet expected to begin shrinking from next month, as the Federal Reserve keeps its options open for a possible interest rate hike later this year in December. Westpac Consumer Sentiment was released this morning which softened to a level of 112.4 in September, down from 113.4 last quarter. The NZD/USD pair is currently trading at 0.7259. We now expect support to hold on moves approaching 0.7240 while any upward push will likely meet resistance around 0.7329.

By BRETT OTTAWA

Rate hike warning sees Sterling bounce to 12 month highs


Australian Dollar

AUD / USD

Expected Range

0.7950 – 0.8050

The Australian dollar enjoyed mixed fortunes through trade on Thursday as investors toyed with moves back through 0.80 US Cents. The currency rebounded early following stronger than expected labour market data, where in, 54,000 new jobs were added amid strong growth in full time employment and participation rates. The Aussie bounced through 0.80 and touched intraday highs at 0.8016 before softer than anticipated Chinese macroeconomic data sets curb upward momentum and investors squared positions leading into an all-important US inflation print. A steady read in core inflation and an uptick in wider consumer prices bolstered the USD and sent the Aussie back below the psychological 0.80 handle to touch intraday lows at 0.7960. Having corrected upward into the open the Aussie now buys 0.7997 US cents as attentions turn to a raft of US activity indicators headlined by Retail Sales. Watch support on moves toward 0.7960 and profit taking on moves through 0.8010.

Great British Pound

GBP / AUD

Expected Range

1.6700 – 1.6800

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.7200 – 0.7300

The New Zealand Dollar saw a drop of sixty basis points from its high over the past twenty-four hours as an increase in the United States inflation reading sent the Greenback higher. Opening at 0.7245 against its American counterpart, the 0.72 handle was tested in overnight trading with an intraday low of 0.7185. Losses were eventually paired as investors domestically focus on the upcoming election where the latest opinion poll showed a 4% lead by the Labour Party. The New Zealand dollar opens this morning at 0.7230 ahead of the latest release of the Business NZ Manufacturing Index

By BRETT OTTAWA

All eyes now on tonight's U.S. consumer price report


Australian Dollar

AUD / USD

Expected Range

0.7900 – 0.8000

The Australian dollar tracked sideways through much of the domestic trading session on Wednesday holding onto to gains above 0.80 U.S cents. With little domestic data on hand to drive direction investors seemed content in managing positions ahead of a busy macroeconomic docket. Having touched intraday highs at 0.8044 the AUD then suffered at the hands of renewed USD demand. Reports Trump and republicans are attempting to fast track key tax reforms, chasing a bipartisan agreement to ensure support and success through the house bolstered the world' base currency and fostered widespread gains across most major currency counterparts. Slipping back below 0.80 and opening this morning at 0.7984 attentions turn to key domestic labour market data and headline U.S inflation numbers for direction into Friday and the weekend.

Great British Pound

GBP / AUD

Expected Range

1.6500 – 1.6600

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.7200 – 0.7300

The New Zealand Dollar maintained its sideways range over the past twenty-four hours as it again could not push through the 0.73 handle against the US Dollar. Opening at 0.7285, the Kiwi saw an intraday high of 0.7303 after a stronger NZ FPI number in the morning before pulling back to 0.7220 on broader greenback strength in overnight trading. With a lack of domestic data, markets will focus on the upcoming Inflation reading in the Unites States as the New Zealand Dollar opens this morning at 0.7245.

By BRETT OTTAWA

Markets steady ahead of Thursday's US Inflation Data


Australian Dollar

AUD / USD

Expected Range

0.8000 – 0.8100

The Australian dollar held a relatively tight 50-point range through much of Tuesday having found support on moves toward 0.80 U. S cents. With little macroeconomic data to steer direction the Australian Dollar bounced between intraday lows at 0.8001 and session highs at 0.8050 as investors simply squared positions and risk appetite crept back into the market. Despite easing tensions with North Korea and the softening of Hurricane Irma investors were wary of extending USD gains. The bearish channel remains intact and CPI inflation data poses a significant risk to short term positioning. Attentions remain squarely fixed on Thursday Domestic labour market print and U.S inflation read as key markers and possible catalysts driving an immediate directional shift.

Great British Pound

GBP / AUD

Expected Range

1.6500 – 1.6600

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.7250 – 0.7350

The New Zealand dollar moved higher in the domestic session yesterday, benefitting from the latest opinion polls in the lead up to the general election on September 23rd. Opening at 0.7250 against its American counterpart, the Kiwi drifted off to an intraday low of 0.7220 before surging higher after the Newshub poll suggested an increase in lead for the National Party to 47.3%. The NZD/USD cross hit eventual highs of 0.7320 rallying a full cent. The New Zealand dollar opens at 0.7285 ahead of the latest Food Price Index figures due for release this morning.

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