In a slow news day, the Pound was holding steady against its main rivals as economists await the publication of UK housing data. Tomorrow’s gauge of UK house prices is expected to have risen to its strongest level for other three years. If this week’s UK news is as positive as the domestic data released last week Sterling could continue to climb.
GBP/EUR is trading in the region of 1.1626 and GBP/USD is trading in the region of 1.5467
Overnight the ‘Greenback’ advanced on the Yen as Japan’s economy was shown to have expanded by less than anticipated. The safe-haven US currency could experience movement later today following the release of the US monthly budget statement.
USD/GBP is trading in the region of 0.6457 and USD/EUR is trading in the region of 0.7503
The Euro largely retained last week’s declines against the US Dollar and Pound over the weekend, beginning the European session relatively unchanged. The common currency could benefit this week if German and Eurozone GDP data meets expectations.
EUR/GBP is trading in the region of 0.8601 and EUR/USD is trading in the region of 1.3310
During Australasian trading the ‘Aussie’ was able to achieve a two-week high against its US rival as last week’s better-than-forecast Chinese data and the Reserve Bank of Australia’s rate decision continue to lend the South Pacific asset support. Australian data to look out for today includes tomorrow’s business confidence and business conditions indexes.
AUD/GBP is trading in the region of 0.5921, AUD/EUR is trading in the region of 0.6885 and AUD/USD is trading in the region of 0.9161
New Zealand Dollar
As local trading came to an end the ‘Kiwi’ shed last week’s gains against its Australian counterpart. The New Zealand Dollar is expected to weaken against the Euro and Pound this week as the two European currencies are bolstered by positive domestic data.
NZD/GBP is trading in the region of 0.5176, NZD/EUR is trading in the region of 0.6031 and NZD/USD is trading in the region of 0.8008
Less-than-impressive domestic employment data caused the Canadian Dollar to end last week weaker than it began. With Canadian economic news a little thin on the ground in the days ahead ‘Loonie’ movement is most likely to be driven by developments in the US and Europe.
CAD/GBP is trading in the region of 0.6277, CAD/EUR is trading in the region of 0.7293 and CAD/USD is trading in the region of 0.9704
These exchange rates were correct as of 9:15 am