Kiwi Climbs As NZ Business Confidence Surges

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Pound Sterling

Although the RICS house price balance report for September jumped to an over ten-year high, the Pound retained overnight declines against the Euro and US Dollar as investors bet that that currency’s rally was overdone. The British asset is also feeling the pressure ahead of this week’s Bank of England policy meeting.

GBP/EUR is trading in the region of 1.1836 and GBP/USD is trading in the region of 1.6060

US Dollar

While the ‘Greenback’ managed to snap its recent run of declines against the Yen as Asian stocks advanced and lessened the appeal of the safe-haven asset, it remained lower against peers like the Euro as the ongoing federal shutdown and rising default fears left the US Dollar struggling. Today’s US trade balance data could inspire market movement, but investors will be waiting on tenterhooks for the current political crisis to be resolved.

USD/GBP is trading in the region of 0.6222 and USD/EUR is trading in the region of 0.7370

Euro

As a report showed that German exports increased by less-than-expected while the nation’s trade surplus narrowed, the Euro fluctuated against its most traded peers. Additional common currency movement is likely to occur in response to German factory orders figures.

EUR/GBP is trading in the region of 0.8448 and EUR/USD is trading in the region of 1.3569

Australian Dollar

The ‘Aussie’ may have retained its recent drop against the Yen, but the South Pacific asset was able to strengthen modestly against the US Dollar as an index of Australian business confidence climbed from 4 to 12 last month.

AUD/GBP is trading in the region of 0.5882, AUD/EUR is trading in the region of 0.6962 and AUD/USD is trading in the region of 0.9440

New Zealand Dollar

During Australasian trading the ‘Kiwi’ recovered yesterday’s modest declines as New Zealand’s business confidence gauge unexpectedly leapt to a 14-year high. Further ‘Kiwi’ fluctuations may well be triggered by domestic card spending data, due out at 22:45 GMT.

NZD/GBP is trading in the region of 0.5158, NZD/EUR is trading in the region of 0.6099 and NZD/USD is trading in the region of 0.8287

Canadian Dollar

After Canada’s housing permit report showed a whopping drop and the price of crude oil futures declined the ‘Loonie’ weakened against several of its most traded rivals and extended recent losses against the US Dollar. Today’s Canadian housing starts data could provoke additional movement.

CAD/GBP is trading in the region of 0.6032, CAD/EUR is trading in the region of 0.7140 and CAD/USD is trading in the region of 0.9687

These exchange rates were correct as of 09:40 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.