Currency Exchange


Today's Currency News




Click on the banner below and discover the amazing benefits Global Currency Exchange Network can provide for you when transferring Currency abroad...



Making An International Currency Payment

Whether you need to pay a deposit on your holiday accommodation, or even if you just need to transfer Euros to pay your overseas household expenses or monthly bills, you still need to think about how you will make the payments. International Currency Exchange rates alter daily, high street banks do not necessarily offer the best deal and this can have an enormous impact on the amount you will eventually pay.

At, we understand the importance of getting value for money. That is why, after careful research, we formed a partnership with Global Currency Exchange Network (GCEN) to offer you the very best in foreign exchange services. Global Currency Exchange Network eliminates the risk of fluctuating currency rates by fixing the rate in advance of your purchase. GCEN has a thorough understanding and years of experience dealing with clients requiring foreign currency.

Our GCEN online payment gateway ensures that money can be transferred in a safe and secure way with payment being instant. All you need to do is follow the link through to register as a new client, fill out your details including your address, email and of course credit card details. Once a payment has been successful, you will receive an email confirmation for your records as proof of payment. As a registered client you will be entitled to preferential exchange rates for up two years as well being able to buy your currency in advance to ensure the best possible rate, save on fluctuation and of course send money to your overseas account.

To set up an account with the Global Currency Exchange Network please follow the link below:

Register with GCEN

Featuring Currency Case Illustrations
Nation - Google News
Nation - Google News
Google News

Queen's Speech: David Cameron pledges tax cuts but delays scrapping Human ......
26 May 2015 at 5:01pm

Queen's Speech: David Cameron pledges tax cuts but delays scrapping Human ...
David Cameron is to pledge that he will "not waste a single moment? in cutting taxes for 30 million people in the Queen's Speech, but will delay plans to scrap the human rights act for at least a year. The Prime Minister will unveil a ?Queen's Speech for working ...
David Cameron plans fast-track bill for EU referendumFinancial Times
EU referendum: Staying in 'will be Yes campaign'BBC News
Queen Elizabeth to unveil EU referendum plans as parliament opensReuters UK -Irish Times
all 255 news articles »

NI welfare reform debate: Ford says Stormont 'in dangerous position' - BBC News
26 May 2015 at 4:18pm

BBC News

NI welfare reform debate: Ford says Stormont 'in dangerous position'
BBC News
Northern Ireland Justice Minister David Ford says the Stormont institutions are in a very dangerous position after nationalists killed off the Welfare Reform Bill in the assembly. While MLAs voted to pass the bill by 58 votes to 39, it fell because Sinn Féin and the ...
Northern Ireland lurches to crisis as Assembly vote down welfare
Northern Irish assembly faces potential collapse after reforms rejectedReuters UK
Northern Ireland power sharing in crisis as welfare bill failsThe Guardian
Belfast Telegraph
all 61 news articles »

MP faces inquiry over Sturgeon memo leak - The Times (subscription)
26 May 2015 at 4:23pm

Channel 4 News

MP faces inquiry over Sturgeon memo leak
The Times (subscription)
Alistair Carmichael is facing a parliamentary standards inquiry into his behaviour over the leaking of a memo about the first minister's conversation with the French ambassador. The former Scottish secretary, one of eight Liberal Democrat survivors after the ...
Police investigate Alistair Carmichael over memo leakThe Guardian
Anti-Alistair Carmichael campaign raises £20000 in bid to unseat memo-leaking
Police probe Alistair Carmichael memo complaintScotsman

all 139 news articles »

Murder Probe After Teenager's Body Found - Sky News
26 May 2015 at 2:22pm

BBC News

Murder Probe After Teenager's Body Found
Sky News
A 25-year-old man and a 20-year-old woman - both from Bournemouth - are being held on suspicion of murder. 21:10, UK, Tuesday 26 May 2015. Police tape cordons off a scene. Share on Twitter · Share on Facebook · Share on Google+ · Share on ...
Murder investigation after teenager's body foundITV News
Murder probe after man found dead in BoscombeBBC News

all 6 news articles »

Didcot murders: Jed Allen was 'known' to police before killings - Telegraph.c...
26 May 2015 at 4:55pm

Didcot murders: Jed Allen was 'known' to police before killings
Triple killer Jed Allen was already 'known' to the police before he murdered his sister, mother and her boyfriend and went on the run. Detectives believe that Jed Allen, 21, stabbed to death his half sister Derin, 6, their mother Janet Jordon, 48, and her partner ...
Jed Allen: 'Wolverine' killer was driven to murder by a terrible secret in his
Didcot killings: Circumstances probed after Jed Allen deathBBC News
Police confirm Jed Allen was known to officers before Didcot murdersDaily Mail
Malton and Pickering Mercury
all 495 news articles »

Queen's Speech: Tax Break For Low Wage Earners - Sky News
26 May 2015 at 5:06pm

Channel 4 News

Queen's Speech: Tax Break For Low Wage Earners
Sky News
The Conservatives say the Queen's Speech is for working families, but Labour fears it will be "very different from the rhetoric". 00:12, UK, Wednesday 27 May 2015. Queen Elizabeth II Attends The State Opening Of Parliament. The address is spoken by the ...
Queen's Speech 2015: Radical agenda to reform taxation, welfare, human rights ...The Independent
Queen's Speech is 'early test' of Tories' pledge for more

all 16 news articles »

Boy, 17, dies after taking ecstasy - The Northern Echo
26 May 2015 at 2:45pm

The Northern Echo

Boy, 17, dies after taking ecstasy
The Northern Echo
Toby Fairclough reportedly suffered a cardiac arrest on playing fields in North Marston, Buckinghamshire, and was taken to Stoke Mandeville hospital. His family said the death of their "cherished, sporty, ebullient child" has "left a huge hole" in their lives.
Drug abuse in Britain: 17-year-old boy has cardiac arrest, dies after taking ecstasyInternational Business Times UK
Tribute to 'brilliant' teenager who died after 'digesting substance'Buckingham Advertiser

all 40 news articles »

Call for inquiry into 'illegal' foxhunts caught on camera - The Times (subscr...
26 May 2015 at 4:36pm

The Times (subscription)

Call for inquiry into 'illegal' foxhunts caught on camera
The Times (subscription)
Labour is demanding an investigation into claims that at least half of Scotland's registered hunts are breaking the law on foxhunting. The League Against Cruel Sports said yesterday that it had documentary evidence suggesting that hunts are routinely using ...
Calls for SNP to make anti-foxhunting stance clear as hunts caught on videoThe Guardian
Secret fox hunting footage revealed by activists - who claim string of hunts are
Fox hunting: campaigners release secret video footage of string of 'illegal' hunts ...Evening Standard
Border Telegraph
all 12 news articles »

Vienna airport staff 'smuggling illegal immigrants to Britain' arrested - Tel...
26 May 2015 at 1:37pm

Vienna airport staff 'smuggling illegal immigrants to Britain' arrested
Police in Austria have broken up an operation to smuggle illegal immigrants into Britain through Vienna airport. Two members of airport security staff are being held in custody on suspicion of allowing passengers without visas or proper travel documents onto ...
G4S guard accused of smuggling refugees on to UK-bound flightsThe Guardian
Security giant G4S implicated in people smuggling ring at Vienna airportRT
Vienna airport security workers probed for people traffickingeuronews
Zee News
all 36 news articles »

U.K. Euro-Skeptic Seeks Labour Figure to Lead 'Out' Campaign - Bloomberg
26 May 2015 at 4:16pm


U.K. Euro-Skeptic Seeks Labour Figure to Lead 'Out' Campaign
One of the Labour Party's largest donors has called for the campaign to get Britain out of the European Union to be fronted by one of the opposition party's lawmakers, rather than a Conservative or U.K. Independence Party leader Nigel Farage. John Mills ...
United Kingdom?Daily Times
Chris Bryant interview: Labour has to speak to voters 'at the end of the line' (blog)

all 9 news articles »

Business News
Business News continually updated from thousands of sources around the net.

eBay's new ad product charges sellers only if a purchase is made.
26 May 2015 at 2:00pm

The promoted listings , which are intended to provide more visibility to listings on eBay, will be available starting in June for sellers with an eBay stores subscription. Select sellers in the U.S., United Kingdom, Germany and Australia will be invited to use promoted listings at first and then the program will be made available to other sellers later in the year.

Jonathan Ive named Apple's chief design officer
26 May 2015 at 11:56am

Apple innovator Jonathan Ive says he's been promoted to the company's chief design officer, making him one of the most powerful people in the world's most valuable company. Ive, who as a lead designer with the company helped conceive the iconic Apple looks of products like the iPod, iPad and Apple Watch, confirmed the promotion in an interview published Tuesday in the Daily Telegraph.

Taco Bell, Pizza Hut ditching artificial colors and flavors
26 May 2015 at 11:56am

Taco Bell and Pizza Hut say they're getting rid of artificial colors and flavors, making them the latest big food companies scrambling to distance themselves from ingredients people might find unappetizing. Instead of "black pepper flavor," for instance, Taco Bell will start using actual black pepper in its seasoned beef, says Liz Matthews, the chain's chief food innovation officer.

How to change minds about same-sex marriage
26 May 2015 at 11:56am

ShantA© Wolfe, left, and Tori Sisson, right, laugh with each other near the Montgomery County Courthouse on Feb. 8 in Montgomery, Ala. Wolfe and Sisson camped out all night Sunday to be the first couple to marry in Montgomery on Monday morning.

How The Art Of Persuasion Saved The TCU Horned Frogs
26 May 2015 at 10:57am

I'm a sports attorney and founder of GAME, Inc., where I work on the business of college sports. I run one of the biggest college basketball tournaments in the country, manage the careers of dozens of coaches, and consult in the building of successful programs throughout the college football and basketball landscape.

General Motors Could Face Criminal Charges Over Faulty Ignitions
26 May 2015 at 9:58am

Reportedly, details of the guilty plea and potential fine still need to be worked out. The switches, which shut some cars off while traveling at high speeds, have been linked to more than 100 deaths.

Why Charter, TWC Stand Better Shot at Regulatory OK
26 May 2015 at 9:58am

May. 26, 2015 - 5:15 - WSJ telecom reporter Ryan Knutson, Federated Investors Chief Equity Strategist Phil Orlando and RiverFront Chief Investment Strategist Rod Smyth on the Charter Communications-Time Warner Cable merger and the impact it could have on the cable industry and content costs.

Court Rules Against Cisco in Patent Infrigemnet Fight
26 May 2015 at 8:56am

The U.S. Supreme Court on Tuesday ruled against Cisco Systems Inc over a $64 million patent infringement verdict the tech giant is fighting. On a 6-2 vote, with Justice Stephen Breyer recused, the court threw out a ruling by the U.S. Court of Appeals for the Federal Circuit in favor of Cisco.

Chinese Hedge Funds Bearish on Copper Ring Alarm Bells for Bulls
26 May 2015 at 6:44am

That should be a warning to investors who've ridden the metal's rebound from a five-year low into a bull market. Gains of as much as 20 percent since late January haven't convinced the money managers that demand is improving in the world's biggest copper-consuming country, where the economy is growing at the slowest pace in a generation.

Brent Crude Trades Near $65 on Middle East Violence, OPEC Supply
26 May 2015 at 2:34am

Futures slid as much as 0.7 percent in London after rising 0.2 percent Monday. Iraq's prime minister pledged a swift takeover of the city of Ramadi from Islamic State militants, while in Saudi Arabia, King Salman vowed to punish those responsible for a suicide attack on Shiite worshipers.

Milk-Peddling Brothers Turn Airline Millionaires With China IPO
25 May 2015 at 10:35pm

A Juneyao Airlines Co. aircraft taxi on the tarmac at Shanghai Pudong International Airport in Shanghai, China.

Death toll from defective GM ignition switches rises to 107
25 May 2015 at 6:22pm

Victims' families are being offered compensation of at least $1 million each by attorney Kenneth Feinberg , who was hired by GM last year. In addition, GM has agreed to make offers to 199 people who were injured in crashes caused by the switches in the Chevrolet Cobalt and other older-model cars.

Lamborghini Said to Agree to Produce New SUV in Italy
25 May 2015 at 3:09pm

The Lamborghini SpA Urus sport-utility concept vehicle was unveiled during a Volkswagen AG event in Beijing, China, on Sunday, April 22, 2012. Lamborghini unveiled its first sport-utility vehicle in almost two decades as the Italian supercar maker looks to expand it lineup to tap rising demand from emerging markets.

Wonkblog: The author of 'A Beautiful Mind' on the life and death of John Nash
25 May 2015 at 2:09pm

This picture taken on May 19, 2015 at the Abel Prize ceremony in Oslo shows the Abel prize winner and mathematician John Nash. Sylvia Nasar lay awake many nights in the mid-1990s worrying whether the anxiety caused by the biography she was writing about the Princeton mathematician John Nash would make him lapse back into the schizophrenic episodes that ravaged so many years of his life.

Charter reportedly close to $55 billion deal for Time Warner Cable
25 May 2015 at 1:06pm

Charter Communications is said to be near a US$55 billion acquisition of Time Warner Cable, a deal that would create a broadband powerhouse in the U.S. The deal could be announced as early as Tuesday, according to articles in the Wall Street Journal and Bloomberg , the first to report the story. Charter also plans to acquire Bright House Networks, a smaller cable company.

BBC News - Business
BBC News - Business
The latest stories from the Business section of the BBC News web site.

Ireland to sell Aer Lingus stake
26 May 2015 at 3:40pm
The Irish government agrees to sell its 25% stake in Aer Lingus to IAG, the owner of British Airways.

Trader accused over Libor was 'greedy'
26 May 2015 at 9:36am
Former City trader Tom Hayes is accused of being "dishonest and manipulative" and a "ringmaster" in his alleged attempts to rig Libor rates, a court hears.

Amazon changes sales reporting
26 May 2015 at 2:26am
Amazon, the global online retailer, is changing the way it records European sales in a move that could see it paying more tax.

Charter to buy Time Warner Cable
26 May 2015 at 11:11am
Charter Communications agrees to buy media giant Time Warner Cable in a deal which values the company at $78.7bn.

Petrobras ex-manager sentenced
26 May 2015 at 4:38pm
A former Petrobras executive was sentenced in Brazil to five years in prison for money laundering.

Deutsche hit over unclear accounting
26 May 2015 at 10:44am
Deutsche Bank is paying $55m (£36m) to settle civil charges by US regulators for allegedly mis-stating financial reports.

UK retail sales 'bounding ahead'
26 May 2015 at 5:09am
Retail sales growth accelerated strongly in the year to May, according to a survey from the CBI.

FCA seeks £80m 'death bond' fines
26 May 2015 at 6:19am
Three men are facing fines of nearly £80m from the City regulator for misleading thousands of investors into buying so-called "death bonds".

Banking stocks weigh on FTSE 100
26 May 2015 at 9:58am
The FTSE 100 falls, with worries over the eurozone hitting banking shares, following gains for anti-austerity parties in Spanish local elections.

Victims of ID theft 'up by a third'
26 May 2015 at 1:20pm
The number of people falling victim to identity theft in the UK rises by almost a third in the first three months of 2015, figures from fraud prevention agency Cifas show.

Jaguar Land Rover annual profits up
26 May 2015 at 9:16am
Jaguar Land Rover vehicle sales lifted Tata Motors' profit in the year to the end of March.

Ryanair reports big rise in profits
26 May 2015 at 5:46am
Irish airline Ryanair reports a 66% rise in net profit as falling oil prices and rising passenger numbers give the company a boost.

Poster family warns over stock images
25 May 2015 at 5:55am
A family whose image was used in a poster campaign by the group opposing gay marriage in the Republic of Ireland say they were "naive" about stock photography websites.

Parking fines make record profit
24 May 2015 at 5:27pm
Scottish councils have made a record profit from parking charges and fines, figures from the RAC Foundation show.

VIDEO: Ryanair: 'We've listened and improved'
26 May 2015 at 2:12am
Budget airline Ryanair has reported a 66% rise in profits for the year to the end of March of ?867m (£614m; $948m)
Financial services company news -
Financial services company news -

Salvaging the reputations of banks
26 May 2015 at 5:12pm
After the banks, attention is now shifting to insurers
Unravelling ?gap risk? at Deutsche Bank
26 May 2015 at 12:29pm
German group?s accounting treatment of a derivatives portfolio falls foul of the SEC
Deutsche fined for misstating derivatives
26 May 2015 at 9:43am
German group agrees to pay $55m to resolve SEC allegations
Rishi Khosla: challenger banking?pioneer
26 May 2015 at 9:19am
Frustration in fundraising inspired the creation of an entrepreneurial lender for smaller businesses
Crowdfunding investors urged to be wary
26 May 2015 at 5:44am
Research shows model vulnerable to excessive estimates
Odey raises stake in Plus500
26 May 2015 at 5:25am
Hedge fund manager becomes trading platform?s largest single investor
Keydata fine shows FCA is more oily cart
26 May 2015 at 4:09am
Biggest penalty watchdog has imposed on an individual
Profits at a price in the world of hedge funds
25 May 2015 at 10:59pm
Hedge funds vary widely in investment style and performance but fees are invariably high
Private equity aims for retail investors
25 May 2015 at 10:59pm
Minimum investments could traditionally have exceeded $5m and fees were high
Calpers and Calstrs urge climate backing
25 May 2015 at 5:01pm
US pension funds chiefs among more than 100 fund manager heads to sign joint letter
UK market review to push for tougher sentences
25 May 2015 at 10:46am
FEMR expected to take punitive approach after string of City scandals
The Carlyle Group: greener grass
25 May 2015 at 10:08am
Private equity used to be a dream job
Bank of England needs highest standards
25 May 2015 at 9:18am
BoE oversight committee must exercise scrutiny independently of governor, writes Jesse Norman
Banks warn on new risk models for trading
25 May 2015 at 8:44am
Letter to Basel regulators argues proposals will make markets more volatile and unstable
South Africa: away games
25 May 2015 at 5:12am
Why bother with a London listing?
Business News - Markets reports and financial news from Sky
Business News - Markets reports and financial news from Sky
Sky business news provides up to the minute reports on markets, share prices and the world economy, alongside expert business commentary.

RBS Eyes Shock Bid For £13bn Mortgage Book
26 May 2015 at 4:05pm
The state-backed lender is examining a bid for Granite, a £13bn mortgage book that was owned by Northern Rock, Sky News learns.

City Chiefs Hold Secret Talks On Pay Revamp
26 May 2015 at 1:04pm
The Investment Association, which manages more than £5tn, is pressing for a radical overhaul of boardroom pay structures.

Irish Government To Sell Stake In Aer Lingus
26 May 2015 at 2:25pm
British Airways owner IAG looks set to take over Aer Lingus as the Irish government gives the green light to a £1bn bid.

City Trader Was 'Ringmaster' In Libor Scandal
26 May 2015 at 6:45am
Tom Hayes, a former UBS and Citigroup trader, was "motivated by greed" when he allegedly manipulated lending rates, a court hears.

Time Warner Cable Focus Of $56.7bn Takeover
26 May 2015 at 7:03am
The mega-deal, which is being examined by regulators, comes in the face of stiff competition from online services such as Netflix.

Fairfield Boss To Quit Amid North Sea Squeeze
26 May 2015 at 6:41am
A respected former BP executive is to leave Fairfield Energy as the North Sea oil crunch continues to bite, Sky News learns.

Taylor Swift Makes Forbes Power Women List
26 May 2015 at 9:50am
The 25-year-old is the youngest person on the Forbes list, which is topped by Angela Merkel for the fifth time in a row.

O2 Customers Lose Their Mobile Phone Signal
26 May 2015 at 2:16am
Technical issues were reported in many major UK cities - with Business Secretary Sajid Javid urging the network to "sort it out".

Greece Risks Insolvency, Warns Bailout Chief
26 May 2015 at 3:46am
Creditors want the cash-strapped Athens government to accept tough reforms and spending cuts before releasing outstanding funds.

No-Frills Ryanair Sees Profits Soar By 66%
26 May 2015 at 3:04am
Passenger numbers for the Ireland-based airline top 90 million, while costs, excluding fuel, remain flat.
Forex Blog| Forex Blog
Learn about the world of Forex

Loonie and Aussie Share Downward Bond
by Adam Kritzer
30 Jun 2011 at 9:15am

In yesterday’s post (Tide is Turning for the Aussie), I explained how a prevailing sense of uncertainty in the markets has manifested itself in the form of a declining Australian Dollar. With today’s post, I’d like to carry that argument forward to the Canadian Dollar.

As it turns out, the forex markets are currently treating the Loonie and the Aussie as inseparable. According to, the AUD/USD and CAD/USD are trading with a 92.5% correlation, the second highest in forex (behind only the CHFUSD and AUDUSD). The fact that the two have been numerically correlated (see chart below) for the better part of 2011 can also be discerned with a cursory glance at the charts above.

Why is this the case? As it turns out, there are a handful of reasons. First of all, both have earned the dubious characterization of “commodity currency,” which basically means that a rise in commodity prices is matched by a proportionate appreciation in the Aussie and Loonie, relative to the US dollar. You can see from the chart above that the year-long commodities boom and sudden drop corresponded with similar movement in commodity currencies. Likewise, yesterday’s rally coincided with the biggest one-day rise in the Canadian Dollar in the year-to-date.

Beyond this, both currencies are seen as attractive proxies for risk. Even though the chaos in the eurozone has very little actual connection to the Loonie and Aussie (which are fiscally sound, geographically distinct, and economically insulated from the crisis), the two currencies have recently taken their cues from political developments in Greece, of all things. Given the heightened sensitivity to risk that has arisen both from the sovereign debt crisis and global economic slowdown, it’s no surprise that investors have responded cautiously by unwinding bets on the Canadian dollar.

Finally, the Bank of Canada is in a very similar position to the Reserve Bank of Australia (RBA). Both central banks embarked on a cycle of monetary tightening in 2010, only to suspend rate hikes in 2011, due to uncertainty over near-term growth prospects. While GDP growth has indeed moderated in both countries, price inflation has not. In fact, the most recent reading of Canadian CPI was 3.7%, which is well above the BOC’s comfort zone. Further complicating the picture is the fact that the Loonie is near a record high, and the BOC remains wary of further stoking the fires of appreciation by making it more attractive to carry traders.

In the near-term, then, the prospects for further appreciation are not good. The currency’s rise was so solid in 2009-2010 that it now seems the forex markets may have gotten ahead of themselves. A pullback towards parity – and beyond – seems like the only realistic possibility. If/when the global economy stabilizes, central banks resume heightening, and risk appetite increases, you can be sure that the Loonie (and the Aussie) will pick up where they left off.

SocialTwist Tell-a-Friend Tide is Turning for the Aussie due to lower commodity prices, low interest ra...
by Adam Kritzer
29 Jun 2011 at 10:40am

“Australia is about to enter a boom that should last decades…The Australian dollar is unlikely to go back to where it was, and manufacturing will shrink in importance to the economy, perhaps even faster than it has been.” This, according to Martin Parkinson, Treasury Minister of Australia. While 30 years from now, Mr. Parkinson’s prognosis might probe to be accurate, I’m not so sure it applies to the period 3 months from now. Here’s why:

First of all, the putative economic boom that is taking place in Australia is being driven entirely by high commodity prices and surging production and exports. Since peaking at the end of April, commodity prices have fallen mightily. You can see from the chart above that there continues to exist a tight correlation between the AUD/USD and commodities prices. As commodities prices have fallen over the last two months, so has the Australian Dollar.

In addition, while demand will probably remain strong over the long-term, it may very well slacken over the short-term, due to declining economic growth across the industrialized world.  Consider also that Australia’s largest market for commodity exports – China – may have difficulty sustaining a GDP growth rate of 10%, and at the very least, new fixed-asset investment (which necessitates demand for raw materials) will temporarily peak in the immediate future.

Finally, the mining sector directly accounts for only 8% of Australia’s economy, which means that only to a limited extent to high commodities prices contribute to the bottom line of Australian GDP. This notion is reinforced by the 1.2% economic contraction in the second quarter – the biggest decline in 20 years – and the fact that GDP is basically flat over the last three quarters. Many non-mining economic indicators are sagging, and the number of corporate bankruptcies is 10% higher than in 2010. In the end, then, the ebb and flow of Australia’s fortune depends less on commodities, and more on other sectors.

Mr. Parkinson’s optimistic forecasts might also be undermined in the short-term by a looser-than-expected monetary policy. The Reserve Bank of Australia last hiked its benchmark interest rate in November 2010, and may not hike again for a few more months due to moderating economic growth and proportionally moderate inflation. Given that an attractive interest rate differential may be driving some of the speculative activity that has girded the Aussie’s rise, a decline in this differential could likewise propel it downward.

That’s because anecdotal reports suggest that the Australian Dollar remains a popular long currency for carry traders, funded by shorting the US Dollar, and to a lesser extent, Japanese Yen. Given that many of these carry trades are heavily leveraged, it wouldn’t take much to trigger a short squeeze and a rapid decline in the AUD/USD. For evidence of this phenomenon, one has to look no further back than May 2010, when the Aussie fell 10-15% in only three weeks.

Ultimately, as one commentator recently pointed out, the Aussie’s 70% rise since 2008 might better be seen as US Dollar weakness (which also catalyzed the rise in commodity prices). The apparent stabilizing of the dollar, then, might let some air out of the currency down under.

SocialTwist Tell-a-Friend Emerging Market Currencies Brace for Correction Due to Market Uncertainty and...
by Adam Kritzer
28 Jun 2011 at 2:42am

“It was the spring of hope, it was the winter of despair,” begins Charles Dickens’ The Tale of Two Cities. In 2011, the winter of despair was followed by the spring of uncertainty. Due to the earthquake/tsunami in Japan, the continued tribulations of Greece, rising commodity prices, and growing concern over the global economic recovery, volatility in the forex markets has risen, and investors are unclear as to how to proceed. For now at least, they are responding by dumping emerging market currencies.

As you can see from the chart above (which shows a cross-section of emerging market forex), most currencies peaked in the beginning of May and have since sold-off significantly. If not for the rally that started off the year, all emerging market currencies would probably be down for the year-to-date, and in fact many of them are anyway. Still, the returns for even the top performers are much less spectacular than in 2009 and 2010. Similarly, the MSCI Emerging Markets Stock Index is down 3.5% in the YTD, and the JP Morgan Emerging Market Bond Index (EMBI+) has risen 4.5% (which is reflects declining growth forecasts as much as perceptions of increasing creditworthiness).

There are a couple of factors that are driving this ebbing of sentiment. First of all, risk appetite is waning. Over the last couple months, every flareup in the eurozone debt crisis coincided with a sell-off in emerging markets. According to the Wall Street Journal, “Central and eastern European currencies that are seen as being most vulnerable to financial turmoil in the euro zone have underperformed.” Economies further afield, such as Turkey and Russia, have also experienced weakness in their respective currencies. Some analysts believe that because emerging economies are generally more fiscally sound than their fundamental counterparts, that they are inherently less risky. Unfortunately, while this proposition makes theoretical sense, you can be assured that a default by a member of the eurozone will trigger a mass exodus into safe havens – NOT into emerging markets.

While emerging market Asia and South America is somewhat insulated from eurozone fiscal problems. On the other hand, they remain vulnerable to an economic slowdown in China and to rising inflation. Emerging market central banks have avoided making significant interest rate hikes (hence, rising bond prices) – for fear of inviting further capital inflow and stoking currency appreciation – and the result has been rising price inflation. You can see from the chart above that the darkest areas (symbolizing higher inflation) are all located in emerging economic regions. While high inflation is not inherently problematic, it is not difficult to conceive of a downward spiral into hyperinflation. Again, a sudden bout of monetary instability would send investors rushing to the exits.

While most analysts (myself included) remain bullish on emerging markets over the long-term, many are laying off in the short-term. “RBC emerging market strategist Nick Chamie says his team has recommended ‘defensive posturing’ to clients since May 5 and isn’t recommending new bullish emerging currency bets right now….HSBC said Thursday that it isn’t recommending outright short positions on emerging market currencies to clients but suggested a more ‘cautious’ and selective approach in making currency bets.” This phenomenon will be exacerbated by the fact that market activity typically slows down in the summer chart above courtesy of Forex Magnates) as traders go on vacation. With less liquidity and an inability to constantly monitor one’s portfolio, traders will be loathe to take on risky positions.

SocialTwist Tell-a-Friend NO QE3: What are the Implications for the Dollar?
by Adam Kritzer
25 Jun 2011 at 7:28am

The verdict is nearly in; there will be no QE3. The second round of quantitative easing (?QE2?) will expire at the end of this month, and while it will not be unwound for quite some time, the Fed has indicated that it will not be followed by yet another round. The question on the minds of forex traders, of course, is what does this mean for the Dollar?

In his most recent press conference, Ben Bernanke, himself, indicated that QE3 was unlikely. According to a survey conducted by Bloomberg News, the majority of FX analysts (65%) believe him. Simply, the circumstances don?t support further easing. To be sure, the unemployment rate remains high, and the economy is teetering on the verge of double-dip recession. However, the last two rounds did little to address either of these problems, and companies have hoarded cash rather than investing in new plant and workers.

Interest rates are still hovering around record lows, and there isn?t anything to be gained from trying to lower them further. Besides, given that inflation is now above 3% ? due to an explosion in good and energy prices ? QE3 would simply be too risky. Economist Ken Goldstein summarized the situation as follows: “We will come to the end of QE2 and largely we mark about how little happened when it ended and that?s also an argument about why there may not be persuasive argument to do a QE3.”

On the other hand, there are some analysts who think that QE3 is inevitable (29%). PIMCO?s Bill Gross, manager of the world?s biggest bond fund, recently indicated that, ?Next Jackson Hole in August will likely hint at QE3/interest rate caps.? (Personally, I think that he?s probably just bitter that his forecast of a decline in Treasury Bond prices hasn?t materialized). One columnist wrote that the Fed?s arm will be twisted by the ongoing collapse of the housing market, while others have argued that the recent decline in the S&P 500 will spur the Fed into action. Most of us, however, believe that the Fed will adopt a wait-and-see approach before ultimately conceding that more easing is necessary.

For now at least, then, the prevailing assumption is that there will not be a QE3. As for how forex markets have digested this news, they have taken it in stride. The Dollar is now holding its value, and as I wrote in a previous post, it may even have bottomed out. Of course, it doesn?t hurt that the Euro is being punished by another flare-up in the sovereign debt crisis and investors are getting nervous about bubbles in emerging market currencies, all of which provide support for the dollar.

The fact that QE2 will soon end without having triggered financial apocalypse or hyperinflation ? as some cassandras initially predicted ? is something that is worth nothing. Of course, the proceeds of QE1 and QE2 will be recycled indefinitely into the markets, and forex investors can?t completely put quantitative easing behind them. Still, that there won’t be any more additional cash injected into commodities markets and emerging economy asset markets means that one of the main sources of downward pressure on the dollar has been eliminated.

Ironically, it is possible that the unveiling of QE3 could actually cause the dollar to rally. The reason is that there is still a tremendous amount of uncertainty in the markets, which provides the dollar with some safe haven demand. If the Fed were to concede that all is not well on the economic front and respond by more money printing, it could drive some safe haven flows into the US, even to the extent that it would overwhelm outflows driven by concerns over inflation.

Personally, I think the dollar will continue to hold its value, and perhaps even appreciate slightly in the near-term, as forex markets dither over the way forward. SocialTwist Tell-a-Friend Swiss Franc is the Only Safe Haven Currency. The Franc is Starting to Distanc...
by Adam Kritzer
23 Jun 2011 at 10:11am

According to conventional market wisdom, there are three safe haven currencies: the Swiss Franc, Japanese Yen, and US Dollar. It is to these currencies that investors flock whenever there is a crisis, or merely an outbreak of uncertainty, and for much of the period following the collapse of Lehman Brothers, the three were closely correlated. As you can see from the chart below, however, one of these currencies has begun to distinguish itself from the other two, leading some to argue that there is now only one true safe haven currency: the Swiss Franc.

What’s not to like about the Franc? It boasts a strong economy, low inflation, and low unemployment. Unlike the US and Japan, Switzerland is not plagued by a high national debt and perennial budget deficits. Its monetary policy has been extremely conservative: no quantitative easing, asset-purchases, or any other money printing programs with euphemistic names.

Ironically, the only thing that makes investors nervous about the franc is that it has already risen so much. Remember when it reached the milestone of parity against the dollar in 2010? Since then, it has appreciated by an additional 20%, and seems to breach a new record on an almost weekly basis. The same goes for the CHF/EUR and CHF/JPY. The President of Switzerland’s export association is expecting further gains: “Parity is a realistic scenario. Given the indebtedness of the eurozone and the strong attraction of the franc, the euro is likely to continue to lose value.”

Given that Swiss exports have surged in spite of (or even because of) the rising Franc, however, he has very little to worry about at the moment. As you can see fromt he graphic below (courtesy of the Financial Times), the balance of trade continues to expand, and has exploded in a handful of key sectors. To be sure, economists expect that this situation will eventually correct itself and are already moving to revise downward 2011 and 2012 GDP growth estimates. Then again, they made the same erroneous predictions in 2010.

The main variable in the Swiss Franc is the Swiss National Bank (SNB). Having booked a loss of CHF 20 Billion from failed intervention in 2010, the SNB is not in a position to make the same mistake again. In fact, SNB President Philipp Hildebrand has not even stooped to verbal intervention this time around, undoubtedly cognizant of the fact that he has very little credibility in forex markets.

At the same time, the SNB is not in any hurry to raise interest rates, lest it stoke further speculative interest in the Franc. Its June meeting came and went without any indication of when it might tighten. Interest rate futures currently reflect an expectation that the first rate hike won’t come until March 2012. Thus, the downside of holding the Franc is that it will continue to pay a negative real interest rate. The only upside, then, is the possibility of further appreciation. Fortunately, the SNB is unlikely to stop the Franc from rising, since it serves the same monetary end as higher interest rates. In other words, a more valuable Franc serves as a direct check on inflation because it lowers the cost of commodity imports and should (eventually) soften demand for Swiss exports.

It is possible that the Swiss Franc will suffer a correction at some point, if only because it rose by such a large margin in such a short period of time. On the other hand, given that its economy has proved its ability to withstand the Franc’s appreciation, it’s no wonder that investors continue to bet on its rise.

SocialTwist Tell-a-Friend Is it Possible to Trade Forex Part-time?
by Adam Kritzer
22 Jun 2011 at 10:17am

This week, I came across an article in the San Francisco Gate (which, incidentally, has really ramped up its forex coverage over the last year) that addressed this very topic. Given that part-time forex traders probably outnumber those that practice the craft full-time, such an article was long overdue.

In sum, the author advises part-time traders to concentrate their trading during the busiest times of the day, or failing that, to simply trade the most active currency pairs during the period of the day that one happens to have time to trade. For example, if you wish to trade the USD/EUR but only have a limited amount of time to do so, you are advised to trade the opening of the New York and/or London sessions, at 8AM EST and 3AM EST, respectively. Alternatively, if you only have time to trade from midnight to 2am, for example, you are advised to trade currency pairs in which the quote currency is the Yen, because during that time the Tokyo session is “in full swing.”

Alas, this kind of strategy is based on a very dubious assumption, which is that you should aim to trade the currency pairs which are both the most liquid and most volatile (ignore the contradiction here), because this will yield the most profits. In other words, it’s easy to capture profits when trading pairs that tend to bounce around a lot and which are cheap and easy to buy and sell. Right?

If you read the Forex Blog with any regularity and are ware that my bend is towards fundamental analysis, it’s probably already obvious to you that I don’t think this is necessarily the case. Consider that forex is a zero-sum game. In other words, on average, 50% of traders win and 50% lose. [When you account for trading costs (i.e. spreads), its probably closer to 30% win and 70% lose, but let’s ignore this for the sake of argument]. Thus, the way I see it, a trader that enters the market during the busiest times has the same chance of winning (~50%) as a different trader that enters the market during the least busy time of day. Either way you cut it, someone has to win and someone has to lose, and no amount of liquidity or volatility can rectify this situation.

Thus, my advice for part-time traders is to forget trading altogether. If you don’t have the time to constantly monitor the market, pore over charts, and develop technical strategy, the odds of winning are pretty low. On the other hand, why not shift your focus from trading to investing? Trading is difficult under the best of circumstances and even more difficult when you don’t have enough time to make a real commitment.

The only way around this is to shift your time horizon from minutes to days – or even weeks. This way, it won’t matter when you have time to trade. Spreads might be marginally higher (as evidenced in the spikes in he chart above, which shows how spreads fluctuate over time) for the USD/EUR at midnight than at 8am, but if you’re planning on holding the pair for more than 10 seconds (and your target profit is greater than 15 pips), this is basically irrelevant.

This way, you also don’t have to worry about carefully planning your entry and exit into positions. Entering a swing trade with a targeted profit of 500pips is probably just as good at 4am as it is at 7am, all else being equal. While this doesn’t necessarily increase the odds of success (above 50%), at least it gives you a great deal more flexibility in being a part-time trader.

SocialTwist Tell-a-Friend Japanese Yen In "No Man's Land." When will the BOJ Intervene to stop its rise?
by Adam Kritzer
20 Jun 2011 at 8:52am

This, according to a hedge fund manager that has decided to cancel all of his fund’s bearish bets on the Japanese Yen. The reason: the yen is rising, and it’s unclear when – or even if – the government will intervene to push it back down. Even though the yen’s strength is fundamentally illogical, it seems that investors are growing increasingly wary of betting against it.

As I pointed out in my previous post on the Yen (“Japanese Yen Strength is Illogical, but Does it Matter?“), the yen has actually fallen over the last twelve months, on a correlation weighted basis (though to be fair, it has staged a pretty impressive comeback since the beginning of April). Unfortunately, investors mainly care about how it is performing against a handful of key currencies, namely the US Dollar. Simply, the yen continues to rise against the dollar, and it is unclear when it will stop.

Japanese government analysis has indeed confirmed that “speculators” are behind the strong yen, as the alleged wide-scale repatriation of yen by Japanese insurance companies has yet to materialize. Of course, there isn’t really much doubt: Japan’s economy is contracting, due to decrease in output spurred by the tsunami. In May, it recorded its second largest monthly trade deficit ever.

Meanwhile, interest rates and bond yields are pathetically low, and the Bank of Japan is being urged to expand its asset buying program, which would theoretically result in a devaluation of the yen. As  a result, retail Japanese forex traders (nicknamed “Mrs. Watanabes“) have resumed shorting the Yen as part of a carry trade strategy.

Alas, speculators either don’t share their pessimism or are running out of patience. While everyone continues to assume that the BOJ will intervene if the Yen rises to 80 against the dollar, no one can be sure whether the line in the sand might not be 78 or even 75. At this point, intervention seems to hinge more on politics than on economics, which means predicting it is beyond the scope of this post. In other words, “There is too much uncertainty and volatility in markets right now to make that yen trade appealing.” And sure enough, the most recent Commitments of Traders data shows that speculators have been re-building their yen long positions over the last month.

In the end, the speculators are probably right. The Bank of Japan has intervened twice over the last twelve months, and the impact has always been short-lived. Besides, given that many speculators still remain committed to shorting the yen, it remains extraordinarily vulnerable to the kind of short squeeze that sent it soaring 5% in a single session en route to the record high it touched in March.

I’m personally still bearish on the yen, but I also think it’s too risky to short it against the dollar, which seems to be declining for its own reasons. As you can see from the chart below, the yen has fallen against virtually every other major currency. Yen shorters, then, might be wise to avoid the dollar altogether and focus instead on any number of other currencies. SocialTwist Tell-a-Friend Forex Volatility Continues Rising. What are the Implications for the Euro?
by Adam Kritzer
17 Jun 2011 at 9:38am

This week witnessed another flareup in the eurozone sovereign debt crisis. As a result, volatility in the EUR/USD pair surged, by some measures to a record high. Even though the Euro rallied yesterday and today, this suggests that investors remain nervous, and that going forward, the euro could embark on a steep decline.

There are a couple of forex volatility indexes. The JP Morgan G7 Volatility Index is based on the implied volatility in 3-month currency options and is one of the broadest measures of forex volatility. As you can see from the chart above, the index is closing in on year-to-date high (excluding the spike in March caused by the Japanese tsunami), and is generally entrenched in an upward trend. Barring day-to-day spikes, however, it will take months to confirm the direction of this trend.

For specific volatility measurements, there is no better source of data than (whose founder, Arnaud Jeulin, I interviewed only last month). Here, you can find data on more than 30 currency pairs, charted across multiple time periods. You can see for the EUR/USD pair in particular that volatility is now at the highest point in 2011 and is closing in on a two-year high.

Meanwhile, the so-called risk-reversal rate for Euro currency options touched 3.1, which is greater than the peak of the credit crisis. This indicator represents a proxy for investor concerns that the Euro will collapse suddenly, and its high level suggests that this is indeed a growing concern. In addition, implied volatility in options contracts has jumped dramatically over the last week, which confirms that investors expect the euro to move dramatically over the next month.

What does all of this mean? In a nutshell, it shows that panic is rising in the forex markets. Last month, I used this notion as a basis for arguing that the dollar safe-haven trade will make a come-back. This would still seem to be the case, and should also benefit the Swiss Franc, which is nearing an all-time high against the euro. Naturally, it also implies that forex investors remain extremely concerned about a continued decline in the euro, and are rushing to hedge their exposure and/or close out long positions altogether. suggests that this could make the EUR/USD an interesting pair to trade, since large swings in either direction will necessarily create opportunities for traders. While I have no opinion on such indiscriminate trading [I prefer to make directional bets based on fundamentals], I must nonetheless acknowledge the logic of such a strategy. SocialTwist Tell-a-Friend Euro Nears Breaking Point
by Adam Kritzer
16 Jun 2011 at 8:33am

It’s deja vu all over again in the forex markets as another twist in the sovereign debt crisis has sent the euro tumbling by the greatest margin in nearly a year. It was only last month that I posted “The Euro (Still) has a Greek Problem,” and yet, forex markets are once again reacting to the possibility of a Greek default as thought it were a new development. At the very least, investors finally seem to be acknowledging the inevitable.

There have been several factors at work in this latest episode. On Monday, S&P downgraded its credit rating for Greece to CCC, following on a similar move by Moody’s. That means that Greece’s sovereign credit rating is now the lowest in the world, behind such eminent economies as Grenada and Ecuador. While the move was hardly noteworthy in itself, it represents one more straw on the camel’s back.

Greece’s government is increasingly unstable, and Prime Minister George Papandreou has become so desperate that he has suggested forming an alliance with Greece’s most powerful opposition party. Meanwhile, violent riots outside Greek Parliament have reportedly become a daily occurrence, as the Greek populace has proven unwilling to accept wage cuts and tax increases.

As if that weren’t enough, there is tremendous uncertainty surrounding the next stage of the Greek bailout. No one can agree on what amount to give and what should be stipulated in return. Some parties think that private investors should be involved in the bailout by taking a “haircut” on the bonds that they own. Some members of the eurozone are balking about contributing any funds at all, wary of justifying it to their own citizens and that it is merely forestalling the inevitable.

I think the NYTimes offered the best summary: “Funding fatigue is growing in the north European creditor countries, especially Germany, the Netherlands, Finland and Austria, just as austerity fatigue is mounting in Greece.” When you consider that Greek interest rates and credit default swap spreads have surged to record highs, it seems that default is really inevitable. If the IMF and European Union are so determined, they can push off default until 2013. Still, default now or default then is still default.

At this point, then, the only real question is what happens when Greece defaults. Will it be forced to leave the Eurozone? Will that push the rest of the Eurozone fringe closer towards default? Will the Euro collapse and cease to exist as a currency? What will happen then?

Unfortunately, I think the answer to all of these questions is yes. At the very least, Greece will be forced out of the eurozone. Bondholders will push interest rates in Ireland, Spain, and Portugal up to double-digit levels, trapping them in the same cycle in which Greece is currently ensnared. Given the exposure of French and German banks to the sovereign debt of financially troubled eurozone members, they will also require state bailouts, and so on.

In a recent op-ed published in The Financial Times, celebrity economies Nouriel Roubini argued that the only way to avoid a complete eurozone meltdown is if the euro depreciates rapidly “to restore competitiveness to the periphery” or if the European Union is able to rapidly achieve complete fiscal and economic union. Roubini argues that the former is difficult because of the ECB’s hawkishness, while the latter is precluded by political hurdles that remain too formidable to overcome.

As Greece inches ever closer to default, the markets will increasingly become gripped by utter uncertainty over the questions that I posed above. Central Banks will stop accumulating euro-denominated assets, and investment funds will similarly shun Europe. (In fact, there is already evidence that this is happening). While European interest rates are attractive relative to the rest of the G4, they are hardly enough to compensate investors for this uncertainty. And when the markets come to terms with this, the euro might finally reach its breaking point.

SocialTwist Tell-a-Friend S&P 500 Decouples from Euro?
by Adam Kritzer
14 Jun 2011 at 9:58am

While I have written quite about forex correlations in recent posts, the focus has primarily been on correlations that exist between currencies. In this post, I would like to address a correlation that exists between currencies and other forex markets- specifically the relationship between the Euro and US stocks.

If you look at the chart above, you can see that an unmistakable correlation exists between the S&P500 and the EUR/USD that stretches back at least six months. Generally speaking, when the EURUSD has risen, so has the S&P 500, and vice versa. In fact, this correlation is so airtight that one analyst recently discovered that the two financial vehicles often reach intra-day highs and lows within minutes of one another!

Why is this the case? In a nutshell, it is because the Euro – especially relative to the dollar – is a proxy for risk appetite. The same is necessarily true for US stocks. When investors are confident in the strength of the global economic recovery and the possibility of crisis is distant, the euro will rise. This has nothing to do with fundamentals in Europe, which are probably at least as bad as they are in the US. Of course, it may be connected with dollar weakness, since it is arguably the case that quantitative easing has both depressed the dollar and buoyed US stocks.

As I intimated in the title of this post, however, the S&P recently decoupled from the euro. Since the beginning of June, US equities have declined sharply, to the extent that they have given back most of their gains in the year-to-date. The EUR/USD, meanwhile, continued rising all the way until last week. While this has happened on a couple previous occasions, this was perhaps the sharpest break between the two.

I’m personally at a loss to explain why this happened. It has been conjectured that the driving force behind the correlation is algorithmic trading, and that hence, it must also represent the source of the break. In other words, high-frequency traders – which account for an ever-increasing proportion of forex volume – tweaked their trading algorithms so as not to buy the S&P 500 when the EURUSD rises, and vice versa.

It’s probably also the case that S&P 500 was falling for endogenous reasons- specifically a decline in GDP growth and earnings expectations which need not necessarily reflect itself in a stronger euro. In fact, in a normal functioning market, you would expect an inverse correlation; strong US economic fundamentals should translate into both a strong dollar and rising stocks. Could it be that worsening fundamentals are manifesting themselves in the form of a weak dollar and weak stocks?

Alas, the correlation has re-established itself over the last week, which means this is largely a moot issue. At the very least, it’s still worth being aware of, both insofar as it remains intact and in the event that it breaks down again.

SocialTwist Tell-a-Friend  
DailyFX - Forex Market News
Forex Market News

USDCAD Scalps Face 1.25 Key Resistance Ahead of BoC, GDP
by Michael Boutros, Currency Strategist
26 May 2015 at 1:32pm
The USDCAD rebound is now approaching near-term technical resistance ahead of key event risk this week. Here are the updated targets & invalidation levels that matter.

USD/JPY Marks First Overbought Signal in 2015; Retail Turns Net-Short
by David Song, Currency Analyst
26 May 2015 at 10:40am
The near-term breakout in USD/JPY may grab increased attention in the days ahead as the bullish RSI momentum gathers pace.

USDOLLAR Index Bottom Looks Established by Now
by Christopher Vecchio, Currency Strategist
26 May 2015 at 4:58am
A broad gauge of the US Dollar suggests that the uptrend from last summer may be ready to re-engage.

Euro Drops on Greece Fears, Aussie Dollar Rises With Chinese Stocks
by Ilya Spivak, Currency Strategist
25 May 2015 at 10:59pm
The Euro fell amid renewed worries about Greece-linked instability while the Aussie Dollar rose alongside Chinese stock exchanges in overnight trade.

Bubbles in US Equity Prices and Bubbles in Global Market Exposure
by John Kicklighter, Chief Currency Strategist
25 May 2015 at 3:39pm
Bubbles occur far more seldom than they are mentioned, but the destruction they can wrought means we should always be on the lookout.

Euro Drops on Spain Election Outcome, Yen Down After Trade Data
by Ilya Spivak, Currency Strategist
24 May 2015 at 11:25pm
The Euro fell as Spain’s election results fueled fears of a Greece-like scenario while the Yen declined as upbeat Japanese trade data fed risk appetite.

EUR/USD Rally Checked by ECB Commentary, Better US Data
by Christopher Vecchio, Currency Strategist
24 May 2015 at 2:40pm
Two major drivers of Euro strength in recent weeks both turned in concert, crushing the 18-member currency.

A Fundamental Push for Key EURUSD, GBPUSD and USDJPY Levels?
by John Kicklighter, Chief Currency StrategistIlya Spivak, Currency StrategistMichael Boutros, Currency StrategistDavid Song, Currency AnalystChristopher Vecchio, Currency Strategist
22 May 2015 at 8:04pm
A surge from the Dollar to close this past week has put many of the 'majors' on the verge a reviving a long-term trend.

US Dollar Recovery Fighting Liquidity, Growth Headwinds
by John Kicklighter, Chief Currency Strategist
22 May 2015 at 8:00pm
There is little doubt in the market consensus that the Fed will be the first major central bank to hike rates, and that will maintain a long-term bid for the Dollar.

Gold Outlook Remains Supportive Above 1200- All Eyes on FOMC, GDP
by Michael Boutros, Currency Strategist
22 May 2015 at 6:28pm
Gold prices are softer going into the final full week of May, with the precious metal off by more than 1.5% to trade at 1203 ahead of the New York close on Friday.

Australian Dollar Recovery May Resume After US-Linked Interlude
by Ilya Spivak, Currency Strategist
22 May 2015 at 6:20pm
The Australian Dollar may resume its recovery after a brief interlude amid jitters preceding key US economic news-flow last week.

USDJPY Stands at 2015 High With Fed and BoJ Policy in the Forefront
by David Song, Currency Analyst
22 May 2015 at 6:00pm
The near-term breakout in USD/JPY raises the risk for a run at the 2015 high (122.01).

USDOLLAR Rebound Vulnerable to 1Q GDP Contraction
by David Song, Currency Analyst
22 May 2015 at 10:30am
A marked contraction in 1Q GDP may undermine the near-term rebound in the U.S. dollar as it raises the risk for a further delay in the Fed’s normalization cycle.

USD/CAD, USD/JPY Seen as Most Resilient USD-Pairs
by Christopher Vecchio, Currency Strategist
22 May 2015 at 5:17am
Today's US inflation data should spark the greenback.

EUR/USD Risks Larger Bound on Dismal U.S. Consumer Price Index (CPI)
by David Song, Currency AnalystShuyang Ren,
22 May 2015 at 2:00am
A marked downturn in the U.S. Consumer Price Index (CPI) may spark a rebound in EUR/USD as it raises the risk for a further delay in the Fed’s normalization cycle.

World business news -
World business news -, the business website of CNN, combines business news and in-depth market analysis with practical advice and answers to personal finance questions.

The 10 most valuable global brands
26 May 2015 at 5:22pm
Apple has the most valuable brand in the world, up 67% over the last year, according to a BrandZ ranking.

Amazon agrees to pay more tax in Europe
26 May 2015 at 6:46am
Amazon gives in to the pressure and stops funneling its European sales through low-tax Luxemburg.

Lilly Pulitzer employee's fat-shaming cartoons spark outrage
26 May 2015 at 4:53pm
Outrage erupted after the world found out that a Lilly Pulitzer employee displayed cartoons at the office that said some pretty outrageous things about fat people.

Pizza Hut and Taco Bell to remove artificial ingredients
26 May 2015 at 11:33am
And Similac baby formula will come in a non-GMO version.

It's official: Chinese stocks have surged over 100%
26 May 2015 at 5:10am
The Shenzhen Composite has rallied over 100% so far this year, easily making it the world's top-performing stock market.

China gets a new billionaire every week
26 May 2015 at 8:46am
Read full story for latest details.

'Star Trek' fan builds ultra-nerd headquarters for $100m
26 May 2015 at 10:21am
NetDragon has built a $100 million headquarters in the shape of the USS Enterprise in China's Fujian province.

Tinder and hookup apps blamed for rise in STDs
26 May 2015 at 6:34am
Rhode Island's Department of Health says that sexually transmitted diseases are way up in the state, in part because of the increase of hookup apps like Tinder.

World's hottest luxury housing markets
20 May 2015 at 2:25am
These 10 cities saw the highest price rises for prime residential real estate over the past 12 months.

Monaco car collector profits from 'flipping' Ferraris
26 May 2015 at 3:19am
Real estate broker Pieter van Naeltwijck has devised a novel way to profit from buying and selling ultra-exclusive supercars, including Ferraris, Porsches and McLarens.

Malaysia Airlines set to lay off 6,000
26 May 2015 at 8:59am
Read full story for latest details.

The 8 biggest job-killing companies
26 May 2015 at 11:40am
Unemployment is at its lowest level since 2007, but some companies are still cutting lots of jobs.

Billions disappear in Russian space program
25 May 2015 at 8:42am
Russia's space industry is in crisis, with $1.8 billion of its budget lost in shady transactions, officials said.

See how your minimum wage stacks up
15 May 2015 at 10:22am

How do you feel about the economy?
27 Jan 2015 at 7:25pm
Tell us about your economic mood and see how the rest of the world feels.

Forbes Breaking News

Yahoo Currency News

Reuters News


The Financials



Next page: Currency Exchange Rates

Currency Exchange News

Currency exchange: Replacing Andrew Jackson - The DePaulia Online

24 May 2015 at 5:20pm 

The DePaulia Online

Currency exchange: Replacing Andrew Jackson
The DePaulia Online
Many organizations conducted polls on who should replace former president Andrew Jackson on the $20 bill, such as this poll by YouGov that focused on female replacements. (Tribune News Service). During President Andrew Jackson's first inaugural ...

and more »


How to save on currency exchange - The Seattle Times

24 May 2015 at 8:00am 

How to save on currency exchange
The Seattle Times
Traveling on a budget can mean counting every penny, but that's a lot harder to do if you are converting currencies. Most of us do a lot of rounding: that yak-wool blanket for 100,000 Mongolian tugrik, at 1,924 tugrik to the dollar? Divide by 2,000 ...


Currency Converter | Foreign Exchange Rates | OANDA

23 May 2015 at 8:11pm  Free currency converter or travel reference card using daily OANDA Rate® data. Convert currencies using interbank, ATM, credit card, and kiosk cash rates.


Currency Updates Forex News
Most latest Forex News

Oil Prices Steady?For Now
26 May 2015 at 2:53am
Crude oil seems to be making a comeback. With prices rebounding significantly over the last few weeks, traders are jumping back in with expectations of continued gains.
Fed?s Fischer Says Rate Hike Debate Driven by Data, Not Date
26 May 2015 at 1:11am
With all the talk by Fed Chairwomen Janet Yellen and other Fed officials that interest rates will be raised by the end of the year, Federal Reserve Vice Chairman Stanley Fischer seems to be taking a different approach, believing that there is a risk to raising interest rates prematurely.
Weekly Economic & Political Timeline
25 May 2015 at 3:16am
Although the Forex market is open all week, Monday is a public holiday in both the U.K. and the U.S.A., as well as most of the rest of Europe, so it should be a very quiet day.
Japan's April Exports Top Expectations
25 May 2015 at 2:57am
Japan?s economy is moving at a quicker pace than anticipated. Data released Monday revealed that April exports climbed 8.0 percent from a year earlier, beating expectations and highlighting a steady recovery in export demand.
No Surprises expected by Fed?s Yellen
22 May 2015 at 3:56am
Changes are not expected in the Fed?s plan to raise interest rates in the very near future. Fed Chair Janet Yellen will point to some progress in raising employment and lowering inflation when she meets today to discuss the economy?s progress.
Dollar Eases Back After FOMC
21 May 2015 at 12:22pm
The Euro managed to recover some losses made in the wake of the Federal Reserve?s policy release yesterday which tended to support the greenback given that there were no Fed surprises.
Weak China Factory Output Number Dampen Growth Hopes
21 May 2015 at 2:11am
The latest report out of China, its Flash China Manufacturing Output Index, pointed to a drop in factory activity for the third straight month in May, down to 48.4 from an April high of 50.0 and hitting a 13-month low.
Dollar Recovers Broadly as Correction Falters
20 May 2015 at 5:20am
After several days when the pressure was high against it, the US Dollar touched a 3-week peak versus the common currency Euro and 2-month high against the Japanese Yen.
Japan GDP surprise lifts Nikkei
20 May 2015 at 1:17am
The release of Japan?s GDP data Wednesday gave an encouraging sign for the health of the Japanese economy.
Euro Tanked by ECB Comments
19 May 2015 at 5:12am
The common currency Euro plummeted versus its main rival the US Dollar after officials of the European Central Bank (ECB) indicated that they might be willing to take additional action to lower bond yields in the Eurozone and to boost inflation.
RBA May Minutes Released
19 May 2015 at 3:37am
Minutes from the RBA?s May 5th meeting were released Monday, the content of which stated that the central bank had deliberated about delaying an interest rates cut, but given the forecasts for continued slow growth and the jobless numbers remaining high for longer than expected, it had made the decision to go ahead, cutting the rate a quarter point to a record low of 2%.
Dollar Struggles but Regains Upper Hand
18 May 2015 at 12:10pm
Though the dismal data from the US continues to pour in the US Dollar was able to regain some of last week?s losses even as investors weigh the likelihood that the Federal Reserve Bank will now not be making any policy change in the coming months.
Asian Shares Wary on U.S. Economic News
18 May 2015 at 1:14am
Despite fairly negative economic news, the S&P 500 managed to reach above 2,120 on Friday, just 4 points from the all-time intraday record.
Athens Could Default On June 5
17 May 2015 at 1:42am
The financial situation in Athens remains in limbo. After another week of no progress between the Alexis Tsipras government and its creditors, the International Monetary Fund is showing signs of impatience and is threatening to pull out of any new bailout compromise.
Fed Rate Increase Still in Doubt
15 May 2015 at 1:19am
With unemployment numbers dropping to a near 15-year low last week, pointing to a stronger job market, it looks like the Federal Reserve will not raise interest rates in the very near future.