The Euro advanced on several of its most traded peers

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Pound Sterling

After dropping below 1.53 against the US Dollar following the release of better-than-expected retail sales figures for the world’s largest economy, the Pound was able to recoup some losses as a UK house-price gauge climbed to the highest for nearly three years. The index rose from minus 2 to 1 in April, providing the first reading above 0 since mid-2010. The next piece of significant UK data is tomorrow’s jobless claims figures.

GBP/EUR is trading in the region of 1.1773 and GBP/USD is trading in the region of 1.5312

US Dollar

Following the publication of better-than-forecast US retail sales data the ‘Greenback’ strengthened against the majority of its most traded peers, continuing its recent bullish trend. The US Dollar lost ground against the Yen however as concerns that the currency’s fall has been too rapid saw it edge up from a four-year low. The most influential US data scheduled for release today is the Now York Fed Quarterly Household Debt report.

USD/GBP is trading in the region of 0.6530 and USD/EUR is trading in the region of 0.7686

Euro

The Euro advanced on several of its most traded peers ahead of the release of a German economic sentiment survey and Eurozone industrial production figures. Economists have predicted that both sets of data (due out at 10:00 GMT) will show improvement, so a disappointing result could trigger Euro movement.

EUR/GBP is trading in the region of 0.8494 and EUR/USD is trading in the region of 1.3015

Australian Dollar

Yesterday the ‘Aussie’ slumped to an 11-month low against the US Dollar in response to disappointing Chinese data and declining Australian business confidence, but the currency was able to enjoy a modest rebound prior to the nation’s budget announcement. Treasurer Wayne Swan intimated that the budget will focus on boosting growth.

AUD/GBP is trading in the region of 0.6518, AUD/EUR is trading in the region of 0.7681 and AUD/USD is trading in the region of 0.9976

New Zealand Dollar

After data showed that New Zealand’s retail sales increased by less-than-expected in the first quarter of this year the ‘Kiwi’ slumped. But as Asian stocks rose the New Zealand Dollar was able to benefit, and the South Pacific currency recouped much of the losses sustained against several of its most traded peers before the close of local trade.

NZD/GBP is trading in the region of 0.5406, NZD/EUR is trading in the region of 0.6358 and NZD/USD is trading in the region of 0.8283

Canadian Dollar

With US retail sales figures gaining by 0.1 per cent, rather than the posting the loss expected, the currency of Canada (which relies heavily on the US for trade) was able to rise. The ‘Loonie’ strengthened against all but one of its most rivals after the news was published. Movement in the Canadian Dollar today is most likely to result from global economic developments.

CAD/GBP is trading in the region of 0.6465, CAD/EUR is trading in the region of 0.7611 and CAD/USD is trading in the region of 0.9901

These exchange rates were correct as of 9:00 am

Richard Martin
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After working in business development for a major UK currency brokers for several years, Richard left Britain to help set up the company’s Australian office and now lives and works in Queensland; making the most of his new Down-Under lifestyle.