Currencies Brief – 5th September 2017

Pound under pressure

The pound found itself reacting unusually strongly to yesterday’s construction PMI says Currencies Direct, the UK based foreign exchange broker. The full article can be read in this link - https://www.currenciesdirect.com/en/news/currency-news/uk-construction-sector-slowdown-pressures-pound

Dollar steady

“The market looks to have already priced in North Korea’s nuclear test. While caution towards the North conducting another missile launch is limiting the dollar’s upside, at least the market can be mentally prepared for it,” said Yukio Ishizuki, senior currency strategist at Daiwa Securities. The full article can be read in this link - https://www.reuters.com/article/global-forex/forex-dollar-steadies-after-pondering-n-korea-headlines-u-s-policies-in-focus-idUSL4N1LM02Z

Euro higher again

“Any attempt to jawbone the currency lower by the ECB will be limited in its impact as the broader market expects policymakers to stick to their plan of gradually unwinding its policy stimulus,” said Peter Rosenstreich, head of market strategy at Swissquote in Switzerland. The full article can be read in this link - https://in.reuters.com/article/uk-global-forex/euro-tiptoes-higher-again-as-ecb-eyed-idUSKCN1BG0UG

Yuan gains

“It looks like the yuan uptrend or at least stabilization will be able to continue, and this will help the offshore yuan bond market,” said Wu Qiong, a Hong Kong-based analyst at BOC International Holdings Ltd. “Issuers are closely watching the changing relative cost between onshore and offshore.” The full article can be read in this link - https://www.bloomberg.com/news/articles/2017-09-04/yuan-s-new-role-as-haven-is-last-great-hope-for-dim-sum-bonds

Rupee lower

According to angel broking, “USDINR spot is expected to weaken tracking losses in Asian market currencies following tensions surrounding over Korean Peninsula.” The full article can be read in this link - http://economictimes.indiatimes.com/markets/forex/rupee-opens-5-paise-lower-against-us-dollar-at-64-05/articleshow/60371980.cms

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Currencies Brief – 4th September 2017

Pound decreases against Euro but increases against dollar

An unexpectedly strong UK manufacturing PMI for August helped to boost the pound says Currencies Direct, the UK based foreign exchange broker. The full article can be read in this link - https://www.currenciesdirect.com/en/news/currency-news/pound-boosted-by-strong-manufacturing-data-and-us

Pound sterling slipped half percentage against Euro on worries over North Korea. The full article can be read in this link - https://in.reuters.com/article/uk-britain-sterling/sterling-slips-against-euro-as-political-risks-weigh-idUSKCN1BF10Z

Pound sterling is posted for the fourth straight monthly decline against Euro and it had an advance against dollar. The full article can be read in this link - https://www.bloomberg.com/news/articles/2017-09-03/pound-s-summer-woes-set-to-continue-as-u-k-parliament-returns

Dollar in pressure

“The reaction in the markets is a classic risk-off reaction to the geopolitical events but a notable exception is the continued euro strength,” said Neil Jones, head of hedge fund sales at Mizuho Bank Ltd in London. The full article can be read in this link - https://in.reuters.com/article/uk-global-forex/dollar-struggles-on-north-korea-nuclear-tests-euro-shines-idUSKCN1BE183

Euro Shines

“The bigger story here is one of broad dollar weakness ... (and) it doesn’t look very positive for the greenback in the near term,” said Alvin Tan, an FX strategist at Societe Generale in London. The full article can be read in this link - https://www.reuters.com/article/global-forex/forex-euro-shines-on-broad-dollar-weakness-idUSL4N1LL3U1

Yuan Gains

Chinese currency yuan advanced further against dollar to the strongest levels in 15.5 months. The full article can be read in this link - http://www.businesstimes.com.sg/banking-finance/chinas-yuan-advances-on-us-dollar-to-hit-its-strongest-in-155-months

Rupee Gains

The rupee on Monday opened 8 paise up at 63.94 against dollar on account of selling of American currency by banks and exporters. The full article can be read in this link - http://economictimes.indiatimes.com/markets/forex/rupee-opens-8-paise-up-at-63-94-against-dollar/articleshow/60356436.cms

www.xferisfree.com is an upcoming currencies comparison startup. Our mission is not only to help you find the best rates possible but also to provide you the relevant offers that would enable you to buy for less. We intend to provide you with shopping coupons of your favourite brands so that you get a value of more than the money that you paid as transfer charges - thereby making your transfers virtually free. And we would publish articles that would help one decide the best way to transfer money. We are an affiliate  of TransferWise, Xendpay, Azimo, Currencies Direct, Orbit Remit, and World Remit

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Currencies Brief – 1st September 2017

Pound steadies

UK consumer confidence has improved slightly but it has remained gloomy says Currencies Direct, the UK based foreign exchange broker. the EU’s chief negotiator, Michael Barnier, claimed that no decisive progress had been made during the latest round of Brexit talks, criticising the UK’s approach to the so-called ‘Divorce bill’ the EU is demanding the UK pays before issues such as trade can be negotiated and GBP/EUR slid lower. The full article can be read in this link - https://www.currenciesdirect.com/en/news/currency-news/pound-weakens-as-eu-barnier-claims-no-progress-mad

Pound sterling steadied above $1.29 on Friday, gaining back some initial losses in morning trade because a survey showed that British factories grew more than expected, suggesting that the economy might be picking up. The full article can be read in this link - https://in.reuters.com/article/uk-britain-sterling/data-props-up-sterling-after-worst-month-since-october-idUSKCN1B20TE

Dollar in pressure

The dollar stayed off this week’s lows in cautious trading on Friday.  The full article can be read in this link - http://in.reuters.com/article/global-forex/forex-dollar-pressured-by-lukewarm-u-s-data-as-jobs-report-awaited-idINL4N1LI258

Euro Sinks

“The ECB story expressing some concern about the euro strength was to manage market expectations, but we think the impact will be temporary as the currency remains a ‘buy on dips’ story,” said Christin Tuxen, an FX strategist at Danske Bank. The full article can be read in this link - https://in.reuters.com/article/us-global-forex/euro-slips-after-six-months-of-gains-ecb-eyed-idINKCN1BC3GD

Yuan Gains

Chinese currency yuan strengthened against dollar to a fresh 14 month high. The full article can be read in this link - https://in.reuters.com/article/uk-china-yuan-midday/chinas-yuan-hits-fresh-14-month-high-after-best-month-idUSKCN1AX0CA

Rupee flat

Angel Broking said, “USDINR spot is expected to strengthen tracking gains in the Asian market currencies following the robust release of manufacturing PMI data from China and weak DXY.” The full article can be read in this link - http://economictimes.indiatimes.com/markets/forex/rupee-opens-flat-at-63-91-against-us-dollar/articleshow/60319048.cms

www.xferisfree.com is an upcoming currencies comparison startup. Our mission is not only to help you find the best rates possible but also to provide you the relevant offers that would enable you to buy for less. We intend to provide you with shopping coupons of your favourite brands so that you get a value of more than the money that you paid as transfer charges - thereby making your transfers virtually free. And we would publish articles that would help one decide the best way to transfer money. We are an affiliate  of TransferWise, Xendpay, Azimo, Currencies Direct, Orbit Remit, and World Remit

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Currencies Brief – 31st August 2017

Pound is biased Negative

The latest consumer credit and mortgage data helped the pound support higher against euro and hold steady against dollar says Currencies Direct, the UK based foreign exchange broker. The full article can be read in this link - https://www.currenciesdirect.com/en/news/currency-news/pound-recovers-from-worst-levels

Pound sterling is under pressure Vs dollar and other major currencies because of the Brexit talks between UK and EU, political uncertainty and economy. The full article can be read in this link - https://www.bloomberg.com/news/articles/2017-08-31/brexit-hit-pound-set-for-worst-month-versus-dollar-since-october

Dollar recovers

“There have been some supportive developments. The data from the U.S. is improving, it looks like we are going to get another solid payrolls report (on Friday),” said Lee Hardman, a strategist with Japan’s MUFG in London. “In general the dollar is trying to stage a rebound over the last couple of sessions, suggesting the falls last week were probably overdone.” The full article can be read in this link - https://in.reuters.com/article/us-global-forex-idINKCN1BB02O

Euro Sinks

“They are somewhat concerned about the euro’s strength and the source piece backed that up again,” said Citi strategist Josh O’Byrne. The full article can be read in this link - https://www.reuters.com/article/global-forex-idUSL8N1LH47Y

Yuan Gains

Chinese currency yuan weakened against dollar slightly but is expected to rebound after a strong economic data. The full article can be read in this link - https://in.reuters.com/article/uk-china-yuan-midday-idUSKCN1AX0CA

Rupee down

The rupee opened 2 paise down against US dollar because the American currency was gaining against the other major currencies. The full article can be read in this link - http://economictimes.indiatimes.com/markets/forex/rupee-opens-2-paise-lower-against-us-dollar-at-64-03/articleshow/60302503.cms

www.xferisfree.com is an upcoming currencies comparison startup. Our mission is not only to help you find the best rates possible but also to provide you the relevant offers that would enable you to buy for less. We intend to provide you with shopping coupons of your favourite brands so that you get a value of more than the money that you paid as transfer charges - thereby making your transfers virtually free. And we would publish articles that would help one decide the best way to transfer money. We are an affiliate  of TransferWise, Xendpay, Azimo, Currencies Direct, Orbit Remit, and World Remit

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Currencies Brief – 29th August 2017

Pound Gains

Political tensions in North Korea helped pound to make gains against the riskier currencies. The full article can be read in this link - https://www.currenciesdirect.com/en/news/currency-news/sterling-mixed-on-bank-holiday-ahead-of-fresh-brex

Pound sterling rose to two week high against dollar after escalating tensions in North Korea. The full article can be read in this link - http://uk.reuters.com/article/uk-britain-sterling-idUKKCN1B20TE

Dollar drops

Dollar dropped to 4 month’s low against Yen after North Korea fired a missile that passed over northern Japan. The full article can be read in this link - https://www.reuters.com/article/uk-global-forex-idUSKCN1B70XZ

Euro Gains

“Risk sentiment has taken a beating on the North Korea jitters and weak equity markets with the only exception being the euro, as the uptrend momentum seems to be behind the single currency,” said Stephen Gallo, European Head of FX Strategy at BMO Financial Group in London. The full article can be read in this link - http://uk.reuters.com/article/us-global-forex-idUKKCN1B82GC

Euro rose to the strongest levels in more than two years after North Korea fired a missile over Japan. The currency is now trading above the psychological $1.2000 level for the first time since January 2015. The full article can be read in this link - https://www.bloomberg.com/news/articles/2017-08-29/euro-climbs-above-1-20-for-first-time-in-more-than-two-years

Yuan Gains

Chinese currency yuan strengthened against dollar both offshore and onshore markets. The full article can be read in this link - http://uk.reuters.com/article/uk-china-yuan-midday-idUKKCN1AX0CA

Rupee down

The rupee opened 4 paise down against US dollar on account of buying of the currency by banks and exporters. The full article can be read in this link - http://economictimes.indiatimes.com/markets/forex/rupee-opens-4-paise-lower-against-us-dollar-at-63-95/articleshow/60270884.cms

www.xferisfree.com is an upcoming currencies comparison startup. Our mission is not only to help you find the best rates possible but also to provide you the relevant offers that would enable you to buy for less. We intend to provide you with shopping coupons of your favourite brands so that you get a value of more than the money that you paid as transfer charges - thereby making your transfers virtually free. And we would publish articles that would help one decide the best way to transfer money. We are an affiliate  of TransferWise, Xendpay, Azimo, Currencies Direct, Orbit Remit, and World Remit

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Currencies Brief – 28th August 2017

Digital currencies exist in a grey area of legalities. Chinese government is preparing for new rules to crackdown risky behavior in the financial sector. The full article can be read in this link - https://in.reuters.com/article/us-china-finance-digital-idINKCN1B80NY

“I don’t think expectations were that high in the market that Draghi would talk down the euro at Jackson Hole. Even if he had done so, the euro likely would have risen anyway,” said Masafumi Yamamoto, chief forex strategist at Mizuho Securities. The full article can be read in this link - https://in.reuters.com/article/uk-global-forex-idUSKCN1B70XZ

Chinese currency yuan climbed up and remained strongest against US dollar in more than an year based on guidance from the central bank. The full article can be read in this link - https://in.reuters.com/article/uk-china-yuan-midday-idUSKCN1AX0CA

Pound’s decline has pushed it to the weakest levels in the ten months against Euro. According to the analysts the four week slide against its European currency counterpart may be overdone. The full article can be read in this link - https://www.bloomberg.com/news/articles/2017-08-27/analysts-question-pound-negativity-as-crucial-brexit-talks-begin

The rupee opened 15 paise up against US dollar on account of selling of the currency by banks and exporters. The full article can be read in this link - http://economictimes.indiatimes.com/markets/forex/rupee-opens-15-paise-higher-against-us-dollar-at-63-89/articleshow/60252985.cms

www.xferisfree.com is an upcoming currencies comparison startup. Our mission is not only to help you find the best rates possible but also to provide you the relevant offers that would enable you to buy for less. We intend to provide you with shopping coupons of your favourite brands so that you get a value of more than the money that you paid as transfer charges - thereby making your transfers virtually free. And we would publish articles that would help one decide the best way to transfer money. We are an affiliate  of TransferWise, Xendpay, Azimo, Currencies Direct, Orbit Remit, and World Remit

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Currencies Brief – 25th August 2017

Pound had some support from the second quarter GDP figures. Only on Monday will we get to understand how market would react for  European Central Bank (ECB) President Mario Draghi’s comments. The full article can be read in this link - https://www.currenciesdirect.com/en/news/currency-news/uk-gdp-data-props-up-pound-as-markets-eye-today%E2%80%99s

“Broader markets are happy to push sterling lower with any negative news, and there is a big gap opening up between the outlook of both the eurozone and the U.K economies,” said David Madden, a markets analyst at CMC Markets in London. The full article can be read in this link - http://uk.reuters.com/article/uk-britain-sterling-idUKKCN1B20TE

Federal reserve swaps 36 million dollars with the Bank of Canada, the Bank of England, the European Central Bank, the Swiss National Bank, and the Bank of Japan in order to respond to the strains in short-term funding in Europe markets. The full article can be read in this link - http://uk.reuters.com/article/uk-fed-forex-swaps-cenbanks-idUKKCN1B42ID

The Chinese currency yuan finished flat with dollar over a week on dollar demand from the corporates. The full article can be read in this link - http://uk.reuters.com/article/uk-china-yuan-midday-idUKKCN1AX0CA

"We really don’t expect much action from Jackson Hole, but our traders certainly won’t be headed to the pub quite as early this week," said Karl Schamotta, director of foreign-exchange research and strategy at Cambridge Global Payments in Toronto. The full article can be read in this link - https://www.bloomberg.com/news/articles/2017-08-24/fx-market-ripe-for-volatility-with-jackson-hole-expectations-low

The rupee gained 8 paise with dollar selling and firm stock markets. The full article can be read in this link - http://economictimes.indiatimes.com/markets/forex/rupee-swings-back-to-2-week-high-of-64-04-gains-8-paise/articleshow/60211423.cms

www.xferisfree.com is an upcoming currencies comparison startup. Our mission is not only to help you find the best rates possible but also to provide you the relevant offers that would enable you to buy for less. We intend to provide you with shopping coupons of your favourite brands so that you get a value of more than the money that you paid as transfer charges - thereby making your transfers virtually free. And we would publish articles that would help one decide the best way to transfer money. We are an affiliate  of TransferWise, Xendpay, Azimo, Currencies Direct, Orbit Remit, and World Remit

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