Euro trading at a three-month low against the US Dollar

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Pound Sterling

Sterling climbed against the US Dollar for a second day after the release of the Bank of England’s quarterly report. The BoE stated that the central bank’s asset-purchases program will benefit public finances by a net 17 billion Pounds. The news also helped Sterling achieve  a third day of gains against the Euro.

The Pound is presently trading against the Euro in the region of 1.1530 and is trading against the US Dollar in the region of 1.4951

US Dollar

The US Dollar broadly strengthened after US retail sales increased by more-than-anticipated, with sales rising to the highest level for five months. The ‘Greenback’ could experience significant volatility today following the release of the US producer price index and initial jobless claims data.

The US Dollar is presently trading against the Pound in the region of 0.6691 and is trading against the Euro in the region of 0.7721

Euro

The Euro continues to trade in the region of a three-month low against the US Dollar today as investors concerns regarding the Eurozone’s economic recovery persist. Euro volatility could be triggered by several factors today including the ECB’s monthly report and a Spanish bond sale. Of particular interest is the two-day meeting of EU leaders in Brussels, which begins tonight at 16:00 GMT.

The Euro is presently trading against the Pound in the region of 0.8673 and is trading against the US Dollar in the region of 1.2966

Australian Dollar

After job growth in Australia exceeded economist’s expectations the ‘Aussie’ advanced on all of its most traded peers. With pressure on the nation’s central bank eased by the data the Australian Dollar gained 0.7 per cent on the US Dollar and 0.5 per cent on the Japanese Yen. The ‘Aussie’ also climbed by 0.8 per cent on fellow South Pacific currency the New Zealand Dollar. Movement in the Australian Dollar is likely to occur in response to global economic developments in the days ahead due to a lack of further economic news for the nation.

The Australian Dollar is presently trading against the Pound in the region of 0.6919, is trading against the Euro in the region of 0.7978 and is trading against the US Dollar in the region of 1.0340

New Zealand Dollar

During the Reserve Bank of New Zealand’s rate announcement governor Graeme Wheeler asserted that the ‘overvalued New Zealand Dollar is undermining profitability’. As a consequence of the RBNZ’s dovish statements the ‘Kiwi’ dropped, falling against the US Dollar to trade close to its lowest level this year. The New Zealand Dollar also lost notable ground against its Australian, Japanese and British counterparts. Of particular interest today is this evening’s business performance of manufacturing index for New Zealand.

The New Zealand Dollar is presently trading against the Pound in the region of 0.5476, is trading against the Euro in the region of 0.6338 and is trading against the US Dollar in the region of 0.8168

Canadian Dollar

The ‘Loonie’ posted losses against its American counterpart yesterday after positive US retail sales figures highlighted the current shortcomings of the Canadian economy. If today’s Canadian capacity utilisation rate and new housing price index disappoint the ‘Loonie’ could fall further over the course of trade. Also of interest is this afternoon’s US producer price index and initial jobless claims data.

The Canadian Dollar is presently trading against the Pound in the region of 0.6519, is trading against the Euro in the region of 0.7515 and is trading against the US Dollar in the region of 0.9743

These exchange rates were correct as of 9:08 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.