‘Aussie’ dipped to within touching distance of an 11-month low

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Pound Sterling

Sterling continues to trade in the region of a two week low against the US Dollar ahead of several important UK data releases in the days ahead, notably Wednesday’s unemployment figures. Economists are forecasting a 3,000 decrease in jobless benefit claims. Tomorrow’s house price balance data may also inspire Pound movement.

GBP/EUR is trading in the region of 1.1837 and GBP/USD is trading in the region of 1.5367

US Dollar

After the G-7, a group of finance ministers and central bank chiefs, intimated that a weakening Yen was acceptable for the time being the US Dollar was able to achieve ¥102 for the first time since 2008. The safe-haven currency strengthened against the majority of its most traded peers as Treasury 10-year yields approached an almost seven week-high. Today’s advance US retail sales figures could trigger ‘Greenback’ fluctuations.

USD/GBP is trading in the region of 0.6505 and USD/EUR is trading in the region of 0.7708

Euro

At the close of last week the Euro edged below 1.30 against the US Dollar, and the common currency continues to trade in the region of 1.2982 this morning. The meeting of Eurozone finance ministers in Brussels later today is likely to be a key cause of market movement.

EUR/GBP is trading in the region of 0.8445 and EUR/USD is trading in the region of 1.2973

Australian Dollar

As a private report revealed a drop in Australian business confidence and a Chinese industrial production figure came in below estimate, the ‘Aussie’ dipped to within touching distance of an 11-month low against the US Dollar. The Australian Dollar also fell against the majority of its other rivals after Barclays Plc slashed its forecast for the currency.

AUD/GBP is trading in the region of 0.6498, AUD/EUR is trading in the region of 0.7703 and AUD/USD is trading in the region of 0.9999

New Zealand Dollar

The ‘Kiwi’ was little changed against its US rival as the European session opened, retaining five days of declines against the ‘Greenback’. Movement in the New Zealand Dollar is likely to occur following the publication of New Zealand’s retail sales (excluding inflation) data at 23:45 GMT. The prediction is for an advance of 0.8 per cent for the first quarter following a 2.1 per cent gain in the final quarter of 2012.

NZD/GBP is trading in the region of 0.5402, NZD/EUR is trading in the region of 0.6387 and NZD/USD is trading in the region of 0.8302

Canadian Dollar

The ‘Loonie’ lost ground against its bullish US rival on Friday after Canadian employment figures failed to meet expectations. The Canadian Dollar continued to slip over the weekend, weakening from C$1.0068 to C$1.0110. An absence of domestic news is likely to limit ‘Loonie’ movement in the hours ahead.

CAD/GBP is trading in the region of 0.6439, CAD/EUR is trading in the region of 0.7631 and CAD/USD is trading in the region of 0.9886

These exchange rates were correct as of 9:05 am

Richard Martin
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After working in business development for a major UK currency brokers for several years, Richard left Britain to help set up the company’s Australian office and now lives and works in Queensland; making the most of his new Down-Under lifestyle.