Euro able to gain on the US Dollar

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Pound Sterling

Sterling was little changed this morning following the release of positive UK business sentiment data. The Pound, which rose against the US Dollar last week following better-than-expected UK services PMI, was trading in the region of 1.5339 US Dollars as markets opened.

The Pound is presently trading against the Euro in the region of 1.1790 and is trading against the US Dollar in the region of 1.5318

US Dollar

Although the US Dollar’s bullish relationship with the Japanese Yen continued the ‘Greenback’ lost ground against the majority of its most traded peers following the release of disappointing US employment data on Friday. As European markets opened this morning the US Dollar held on to three-days of declines against the Euro.

The US Dollar is presently trading against the Pound in the region of 0.6527 and is trading against the Euro in the region of 0.7696

Euro

On Friday the Euro was able to gain on the US Dollar after the American currency was adversely affected by disappointing US employment data. However, the common currency has since lost ground against its American counterpart as the ‘Greenback’ strengthened in the face of Yen weakness. Additional Euro movement could occur this morning in response to German industrial production data.

The Euro is presently trading against the Pound in the region of 0.8489 and is trading against the US Dollar in the region of 1.2906

Australian Dollar

The ‘Aussie’ is in line to experience significant movement this week as several pieces of key economic data are released. As well as Australian business confidence and employment data investors will also be focusing on trade balance figures for China, Australia’s main trading partner.

The Australian Dollar is presently trading against the Pound in the region of 0.6771, is trading against the Euro in the region of 0.7991 and is trading against the US Dollar in the region of 1.0384

New Zealand Dollar

Although movement in the New Zealand Dollar was limited by a lack of domestic economic news, the South Pacific currency hit new highs against a broadly softening Japanese Yen.

The New Zealand Dollar is presently trading against the Pound in the region of 0.5508, is trading against the Euro in the region of 0.6491 and is trading against the US Dollar in the region of 0.8431

Canadian Dollar

The Canadian Dollar dropped by over a cent against its US counterpart after a report showed that the Canadian economy lost 55,000 full-time jobs in March. Economists had expected a jobs gain of 6,500. Although the CAD/USD paring experienced a slight upward correction before the close of trade the ‘Loonie’ is still trading in the region of 98.39 cents.

The Canadian Dollar is presently trading against the Pound in the region of 0.6413, is trading against the Euro in the region of 0.7561 and is trading against the US Dollar in the region of 0.9829

These exchange rates were correct as of 9:35 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.