Here at BER we are dedicated to helping you find the best possible currency exchange rates for United States Dollar Wire Transfers and Travel Money plus market research and information on both banks and non-bank currency providers. Select USD Mid-Rates & Charts (30 days & 3 years) :
: EUR/USD is weaker having traded to the top of its recent range and come near the top of the long term down trend dating from its June 2011 high up at 1.48 . We expect this to be a heavy resistance zone and we may see some choppy moves around this 1.3250 – 1.3350 range. Relative interest rates have provided for recent strength in EUR, and are likely to provide for further support ahead of next week’s FOMC given the focus on the Fed’s forward guidance thresholds. The ECB meeting two days later on August 1st will be a key focus as market participants look to Draghi for his reaction to both the improving outlook for Europe (PMI’s) and the implications of the recent strengthening in Euro. We expect a range today of 1.3240 to 1.3290 Charts :EUR/USDUSD/EUR
: GBP/USD is weaker falling to near term support around 1.5370 – The pair has been trading in a narrow range all week, and we should see this move develop and give new direction coming into next week’s more data heavy calendar which will include on Thursday, the UK MPC minutes and interest rate decision, and on Friday the US non-farm payrolls numbers. We expect a range today of 1.5330 to 1.5400 Charts :GBP/USDUSD/GBP
: Canadian May GDP beat expectations of a rise from 0.1% to 0.3% coming in at a very solid 0.4%. Similar to yesterday’s US GDP which showed a recovery from the suppressed Q1 data which was affected by the “polar vortex”, Canada economy continues to show signs of coming back to life. The Loonie is having difficulty gaining on the back of this data as the global trend continues to favour USD and the market focus is now pointed to tomorrow’s July Employment data for the US. The economists are calling for reading of 230K new jobs down from the 288K we observed in June. Any number above 200K will be positive for the Greenback as we have not had this report be above 200k for six months straight since 1997. We expect a range today of 1.0880 to 1.0935 Charts :USD/CADCAD/USD
: USD/JPY has seen significant weakness today, falling back below the 100 level. The Yen strength was caused by market perception of a “stronger” than expected CPI number, coming in at 0.2% vs 0.1% expected and indicating an increase of inflation in line with the BOJ policies. However, looking at the various components which make up this number we can see that the core drivers of inflation have come from higher energy prices and higher food costs – indicating “bad” cost push inflation, instead of “good” demand pull inflation (via increasing wages). This is not a good sign for the long term health of Japanese companies or the economy. We expect a range today of 98.00 to 98.60 Charts :USD/JPYJPY/USD
The Dollar’s rise continues as advanced GDP figures showed the US economy grew four percent in the second quarter to June. Comfortably above average forecasts the strong reading surprised investors triggering a Greenback rally with the world’s base currency advancing against all but a few major peers. Supported by a sturdy preliminary non-farm payroll report that suggests the economy will add some 200,000+ jobs when official number hit the docket Friday the string of positive data underpins the strength of economic recovery. The rally was however pared by a dovish Federal Open Market Committee Statement wherein Fed officials cited concerns over slack in the labour market while reiterating that interest rates will remain unchanged for a “considerable time”. In other news the Euro broke below 1.3400 as German inflation data disappointed investors compounding fears Europe’s largest economy is stagnating. The 18 nation bloc’s unit traded to an intraday low of 1.3366 and opens this morning under the guise of further downward pressure as investor focus is directed to Core CPI this evening ahead of US non-farm payroll numbers Friday. Soft European inflation and a strong US jobs report could see the EUR/USD move close to a weekly close near 1.3200. Data releases Building Approvals, Import Prices and Private Sector Credit NZD: No Data Average Cash Earnings and Housing starts GBP: Nationwide HPI m/m Charts :USD/EUREUR/USDUSD/JPY
Bloomberg Television interview with Michael Ward, CEO, North America and Europe for USForex on getting
the Best Exchange Rates when sending money abroad from the US plus his thoughts on what to look for when Buying Property Abroad and which global cities are popular right now.
⇒ watch video
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
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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