Dollar could gain on the Euro today

money_united_states_dollars_macro

Pound Sterling

The Pound could advance today on the back of a piece of much needed positive data for the UK. A report released this morning has shown that UK retail sales increased by 2.1 per cent in February, the first gain since last September and a far better increase than expected. The Pound was trading within the region of a two-week high against the US Dollar before the news and could extend these gains in the hours ahead.

The Pound is presently trading against the Euro in the region of 1.1734 and is trading against the US Dollar in the region of 1.5143

US Dollar

The US Dollar could gain on the Euro today after several pieces of disappointing data lowered the economic outlook for Eurozone. The ‘Greenback’ is also likely to see movement against the Yen today as the market responses to the first press conference of new Bank of Japan Governor Haruhiko Kuroda.

The US Dollar is presently trading against the Pound in the region of 0.6606 and is trading against the Euro in the region of 0.7750

Euro

As worse-than-forecast PMI data for Germany and the Eurozone weigh on the 17-nation currency bloc this morning the Euro could fall against several of its most traded peers. If tomorrow’s German IFO business climate figures also fail to live up to expectations concerns that the downturn in the 17 nation currency bloc is intensify could trigger additional Euro declines.

The Euro is presently trading against the Pound in the region of 0.8524 and is trading against the US Dollar in the region of 1.2905

Australian Dollar

Despite positive manufacturing data for China, Australia’s largest trading partner, the ‘Aussie’ fell against the Yen and was largely unchanged against the US Dollar during local trade. This evening’s Conference Board Leading Index for Australia could trigger fluctuations in the commodity-driven currency.

The Australian Dollar is presently trading against the Pound in the region of 0.6856, is trading against the Euro in the region of 0.8057 and is trading against the US Dollar in the region of 1.0390

New Zealand Dollar

After a report revealed significantly stronger than expected economic growth for New Zealand in the fourth quarter of 2012 the ‘Kiwi’ broadly strengthened, recouping recent losses against the US Dollar and trading higher against several of its other main currency rivals.

The New Zealand Dollar is presently trading against the Pound in the region of 0.5471, is trading against the Euro in the region of 0.6384 and is trading against the US Dollar in the region of 0.8291

Canadian Dollar

The Canadian Dollar was able to advance on the US Dollar after the Federal Reserve left its asset purchase programme unaltered, boosting optimism regarding US economic recovery. The main cause of ‘Loonie’ movement today is likely to be Canadian retail sales figures, due for release at 12:30 GMT.

The Canadian Dollar is presently trading against the Pound in the region of 0.6449, is trading against the Euro in the region of 0.7564 and is trading against the US Dollar in the region of 0.9761

These exchange rates were correct as of 9:51 am

Laura Barrett
This post was written by
Laura moved from the US to the UK several years ago. As a corporate sales executive for a leading foreign exchange company, Laura has expert knowledge of currency movements and market trends and is able to offer specialist guidance regarding making a trade at the most lucrative time and protecting transactions from currency risk.