Ahead of the publication of the Bank of England’s quarterly inflation report and growth forecasts for the UK, the Pound was holding steady against its American counterpart having softened on Friday in response to less-than-impressive UK trade data and the strong US non-farm payrolls result. Sterling was also little changed against the Euro in a quite news day for Europe.
GBP/EUR is trading in the region of 1.1965 and GBP/USD is trading in the region of 1.6012
In the wake of a stronger-than-anticipated non-farm payrolls report for the US the ‘Greenback’ advanced on several of its most traded rivals, ending the week on a high. The American asset retained gains against the Yen and Pound as investors await Federal Reserve announcements and possible hints regarding a tapering timeline.
USD/GBP is trading in the region of 0.6244 and USD/EUR is trading in the region of 0.7474
With industry experts expecting this week’s growth reports to show that the Eurozone’s recovery lost steam in the third quarter, the common currency was little changed against the US Dollar and Pound as the European session opened. Given that European news is thin on the ground today, common currency movement might be limited.
EUR/GBP is trading in the region of 0.8354 and EUR/USD is trading in the region of 1.3383
After posting a notable decline against its US counterpart last week the ‘Aussie’ was able to stabilise overnight on the back of better-than-expected economic data for China and rising Australian home loans.
AUD/GBP is trading in the region of 0.5865, AUD/EUR is trading in the region of 0.7011 and AUD/USD is trading in the region of 0.9383
New Zealand Dollar
As milk production is a driving force in New Zealand’s economy, news that the outlook for milk production brightened helped the ‘Kiwi’ advance on its rivals. The South Pacific asset was also supported against rivals like the Pound and Euro as data showed that Chinese industrial output growth increased.
NZD/GBP is trading in the region of 0.5167, NZD/EUR is trading in the region of 0.6190 and NZD/USD is trading in the region of 0.8270
On Friday signs of improvement in the Canadian employment sector bolstered the ‘Loonie’ and the commodity driven currency was able to enjoy broad-based gains. However, the Canadian Dollar was unable to rally against a bullish ‘Buck’ as US employment figures also surprised to the upside. Canadian data to look out for this week includes Thursday’s new housing price index.
CAD/GBP is trading in the region of 0.5970, CAD/EUR is trading in the region of 0.7140 and CAD/USD is trading in the region of 0.9554
These exchange rates were correct as of 9:25 am