After surging against its rivals yesterday in response to unexpectedly encouraging services PMI for the UK, the Pound begins the local session slightly stronger against the US Dollar and in the region of a one-month high against the Euro. Today’s UK industrial/manufacturing reports are likely to inspire further Sterling movement.
GBP/EUR is trading in the region of 1.1915 and GBP/USD is trading in the region of 1.6082
Although the US Dollar was supported yesterday by stronger-than-anticipated US ISM non-manufacturing data, the North American asset slipped notably against the Euro, Pound and New Zealand Dollar ahead of today’s US mortgage applications and leading indicators data.
USD/GBP is trading in the region of 0.6222 and USD/EUR is trading in the region of 0.7407
With investors deeming the Euro’s recent drop too rapid, the common currency recovered losses against several of its main peers overnight. The Euro went on to extend these gains as services PMI reports for France, Germany and the Eurozone exceeded expectations. Today’s retail sales figures for the Eurozone are likely to inspire additional movement.
EUR/GBP is trading in the region of 0.8393 and EUR/USD is trading in the region of 1.3497
While the ‘Aussie’ weakened against its New Zealand counterpart in the face of far stronger-than-expected employment figures for the smaller nation, the Australian Dollar was able to rally against several of its other most traded peers as a report revealed that Australia’s trade deficit narrowed in August.
AUD/GBP is trading in the region of 0.5920, AUD/EUR is trading in the region of 0.7048 and AUD/USD is trading in the region of 0.9512
New Zealand Dollar
During Australasian trading, impressive domestic employment data added to the case for the Reserve Bank of New Zealand increasing interest rates. The ‘Kiwi’ consequently advanced on its rivals, surging against the US and Australian Dollars.
NZD/GBP is trading in the region of 0.5217, NZD/EUR is trading in the region of 0.6167 and NZD/USD is trading in the region of 0.8380
Declining crude oil left the Canadian Dollar trading close to a two-month low against its US rival. The CAD/USD pairing was also adversely affected by yesterday’s US ISM non-manufacturing data which surprised to the upside. Today’s Canadian building permits and Ivey PMI are likely to trigger ‘Loonie’ volatility.
CAD/GBP is trading in the region of 0.5952, CAD/EUR is trading in the region of 0.7092 and CAD/USD is trading in the region of 0.9572
These exchange rates were correct as of 9:25 am