After softening against its peers last week as a result of less-than-impressive domestic data, the Pound was little changed this morning. Although Sterling movement might be limited today due to a lack of significant economic reports for the UK, fluctuations are likely to occur as the week progresses and UK inflation data and retail sales figures are published.
GBP/EUR is trading in the region of 1.2026 and GBP/USD is trading in the region of 1.6426
On Friday the ‘Greenback’ shed gains against several of its major rivals as a result of unsatisfactory US employment figures. As the non-farm payrolls report failed to meet expectations, additional disappointing US reports might dissuade the Federal Reserve from continuing with its tapering plan. Consequently, investors will be paying close attention to US news. Upbeat data could help the US Dollar recover losses.
USD/GBP is trading in the region of 0.6085 and USD/EUR is trading in the region of 0.7314
The Euro begins the week in a stronger position against the US Dollar and Pound. With Eurozone industrial production and German GDP reports due out early in the week and final Eurozone inflation figures scheduled for publication on Thursday (along with the ECB’s monthly report) Euro volatility is likely.
EUR/GBP is trading in the region of 0.8313 and EUR/USD is trading in the region of 1.3666
As detailed on Euro Exchange Rate News, stronger-than-expected Australian home loans data supported the ‘Aussie’ overnight, as did the expectation that this week’s domestic employment report will show a second month of job gains. The Australian Dollar advanced on peers like the Euro and Pound and hit a one-month high against its US counterpart.
AUD/GBP is trading in the region of 0.5500, AUD/EUR is trading in the region of 0.6615 and AUD/USD is trading in the region of 0.9030
New Zealand Dollar
The New Zealand Dollar was stronger against the ‘Buck’ at the close of Australasian trading as last week’s lacklustre US employment data took a toll on the North American asset. The ‘Kiwi’ was little changed against several of its other major counterparts but could advance if today’s retail card spending figures for New Zealand show improvement.
NZD/GBP is trading in the region of 0.5046, NZD/EUR is trading in the region of 0.6092 and NZD/USD is trading in the region of 0.8320
At the close of last week the Canadian Dollar came under fire as domestic employment figures shocked expectations and Canada’s unemployment rate soared to 7.2 per cent. Today modest ‘Loonie’ movement may occur as domestic business outlook future sales figures are published.
CAD/GBP is trading in the region of 0.5579, CAD/EUR is trading in the region of 0.6708 and CAD/USD is trading in the region of 0.9162
These exchange rates were correct as of 9:25 am