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UPDATING CURRENCY ANALYSIS
By Tor Fx
Update : 07/19/2013
Please find below
today's update which gives you an insight into the current market
conditions, enabling you to keep informed and up to date on the latest
currency movements.
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New Zealand Dollar
Headlines
• ONS revises CPI basket – Netflix in, hardwood flooring out.
• GBP/EUR hits 2014 low – Sterling below psychological resistance.
• US Retail Sales up 0.3% – Jobless Claims hit 3-month low.
• RBNZ rate hike boosts ‘Kiwi’ Dollar – Chinese data weighs on AUD.
Sterling
• GBP/EUR hits 2014 low – Sterling below psychological resistance.
• US Retail Sales up 0.3% – Jobless Claims hit 3-month low.
• RBNZ rate hike boosts ‘Kiwi’ Dollar – Chinese data weighs on AUD.
Sterling
There were no key
UK economic releases yesterday, meaning that sentiment towards Sterling
was largely driven by exterior factors.
However, one news
item that could potentially have an impact on the Pound in the future
was the Office for National Statistics’ revision to its CPI basket. The
ONS’ basket of goods and services is a large collection of miscellaneous
items designed to represent the average spending pattern of a British
consumer. The Consumer Price Index measures price fluctuations in the
basket.
Each year the ONS
adds a few new items to the basket and withdraws some that are deemed
superfluous. This year honey, mixer drinks and Netflix were added to the
list, whereas takeaway coffee, hardwood flooring and after gardeners’
fees were removed. It seems that Britons have cutback on home
improvement and caffeine in order to focus on watching Breaking Bad
reruns whilst sipping on honey highball cocktails.
Euro
The Pound to Euro exchange rate struck a fresh 2014 low
yesterday, as traders remained drawn to the single currency following
the announcement last week that the European Central Bank would not be
introducing further monetary stimulus at this juncture. Euro
The ECB released
its Monthly Report yesterday morning, in which policymakers reiterated
their message from past meetings: interest rates will remain low for a
prolonged period of time due to the region’s soft growth outlook and
below-target rate of inflation.
US Dollar
The Pound to US Dollar exchange rate rallied mildly yesterday morning as profit taking dominated trading patterns.US Dollar
GBP/USD slipped
back below key support during the afternoon as investors reacted to a
sanguine set of US ecostats. Retail Sales came in at a
better-than-expected 0.3% for February, rebounding from a
weather-inflicted -0.6% contraction during January. The ‘Greenback’ was
also boosted by a -15,000 fall in benefit claims, bringing the Initial
Jobless Claims down to a 3-month low of 315,000. The encouraging
consumption and labour market figures further cemented the view amongst
traders that the Federal Reserve will cut asset purchases again this
month.
Canadian Dollar
Canadian Dollar
The Pound gave
back gains of around half a cent to the Canadian Dollar yesterday
afternoon as Canadian house prices were reported to have improved
faster-than-anticipated during January. The Canadian New Housing Index
rose by 0.3% in January alone – marking the biggest monthly improvement
in over 20 months. On an annual scale, the index hit 1.5%, beating
predictions of 1.3%. The outperforming Canadian housing market is a
cause of concern to the Bank of Canada and was one of the main reasons
that interest rate hikes were discussed under Mark Carney’s governance.
Australian Dollar
Sterling declined against the Australian Dollar yesterday
as an impressive 80,500 increase in full-time jobs reflected brightly on
the Australian labour market. However, another disappointing set of
Chinese figures compromised sentiment towards the ‘Aussie’. Chinese
Retail Sales decelerated from 13.1% to 11.8% and Industrial Production
cooled from 9.7% to 8.6%; both readings were significantly lower than
the market consensus.Australian Dollar
New Zealand Dollar
The New Zealand
Dollar struck a fresh 3.5-month high against Sterling yesterday as
investors continued to park their funds in ‘Kiwi’ Dollars following the
Reserve Bank of New Zealand’s decision to hike rates by 25bps. The RBNZ
also intimated that it intends tighten monetary policy further over the
remainder of the year.
If you need any further
assistance, or require a live dealing quote - please do not hesitate to
contact me on 01736 335250 or send an email to info@torfx.com
Regards,
TorFX
TorFX
CURRENCY RATES
Base Currency: IDR Rates Taken: Sat, 15th Mar 14 08:55
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Top 10 Currencies | |||
Currency Unit | Units per IDR | IDR per Unit | |
GBP | British Pound | 0.0001 | 18912.0425 |
EUR | Euro | 0.0001 | 15791.7505 |
USD | US Dollar | 0.0001 | 11380.0456 |
AUD | Australian Dollar | 0.0001 | 10266.2323 |
CAD | Canadian Dollar | 0.0001 | 10256.1552 |
NZD | New Zealand Dollar | 0.0001 | 9720.4166 |
CHF | Swiss Franc | 0.0001 | 13009.591 |
JPY | Japanese Yen | 0.0089 | 111.9786 |
INR | Indian Rupee | 0.0054 | 185.7356 |
AED | United Arab Emirates Dirham | 0.0003 | 3100.8279 |
Popular Other Currencies | |||
Currency Unit | Units per IDR | IDR per Unit | |
BRL | Brazilian Real | 0.0002 | 4818.097 |
BGN | Bulgarian Lev | 0.0001 | 8077.5129 |
DKK | Danish Krone | 0.0005 | 2117.1366 |
EGP | Egyptian Pound | 0.0006 | 1635.3999 |
HKD | Hong Kong Dollar | 0.0007 | 1465.726 |
HUF | Hungarian Forint | 0.0198 | 50.3996 |
IDR | Indonesian Rupiah | 1.0000 | 1.0000 |
ILS | Israeli Sheqel | 0.0003 | 3279.3156 |
IQD | Iraqi Dinar | 0.1023 | 9.7758 |
IRR | Iran Rial | 2.19 | 0.4566 |
ISK | Icelandic Krona | 0.0099 | 101.2999 |
KES | Kenyan Shilling | 0.0076 | 131.6439 |
KRW | South Korean Won | 0.0941 | 10.628 |
KWD | Kuwaiti Dinar | 0 | 40439.7265 |
LKR | Sri Lankan Rupee | 0.0115 | 87.11 |
MAD | Moroccan Dirham | 0.0007 | 1403.7651 |
MUR | Mauritius Rupee | 0.0026 | 379.6235 |
MXN | Mexican Peso | 0.0012 | 856.4282 |
MYR | Malaysian Ringgit | 0.0003 | 3468.1459 |
NOK | Norwegian Krone | 0.0005 | 1904.1295 |
PHP | Philippine Peso | 0.0039 | 254.8821 |
PLN | Polish Zloty | 0.0003 | 3727.9432 |
QAR | Qatari Riyal | 0.0003 | 3126.0659 |
RUB | Russian Rouble | 0.0032 | 310.8085 |
SAR | Saudi Riyal | 0.0003 | 3035.1439 |
SEK | Swedish Krona | 0.0006 | 1783.2331 |
SGD | Singapore Dollar | 0.0001 | 8989.3824 |
THB | Thai Baht | 0.0028 | 352.041 |
TRY | Turkish Lira | 0.0002 | 5092.0269 |
TWD | Taiwan Dollar | 0.0027 | 374.3558 |
ZAR | South African Rand | 0.0009 | 1055.3448 |
Live Commodities | |||
Commodity Unit | IDR per Unit | ||
XAU | Gold | 15599083.6391 | |
XAG | Silver | 241922.6984 | |
OIL | Crude Oil | 1118601.5775 | |
BRT | Brent Oil | 1216640.6699 | |
HEO | Heating Oil | 33303.7033 |