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UPDATING CURRENCY ANALYSIS


By Tor Fx
Update : 07/19/2013




Dear Subscriber,
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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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
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.
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.
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
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.

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


CURRENCY RATES
Base Currency: IDR         Rates Taken: Sat, 15th Mar 14 08:55
** If you need to change base currency, email frequency/time sent or pause these emails click here **
Top 10 Currencies
Currency UnitUnits per IDRIDR 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 UnitUnits per IDRIDR 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 UnitIDR 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