The Pound strengthened modestly against the Euro and was little changed against the US Dollar ahead of the publication of a report which is expected to show that UK mortgage approvals advanced to their highest level for over five years. A surprising result could trigger Sterling movement.
GBP/EUR is trading in the region of 1.1588 and GBP/USD is trading in the region of 1.5374
During the Asian session the ‘Greenback’ fell to a month low against safe-haven counterpart the Yen. The US Dollar was adversely affected by the expectation that today’s US housing data will show a decline in the sale of previously owned homes. The American currency is likely to remain under pressure as the Federal Reserve prepares for this week’s two-day policy meeting.
USD/GBP is trading in the region of 0.6504 and USD/EUR is trading in the region of 0.753
With economic news for the Eurozone thin on the ground today, fluctuations in the common currency are most likely to occur in reaction to global economic data. Housing reports from the UK and US could inspire movement in the EUR/GBP and EUR/USD pairings.
EUR/GBP is trading in the region of 0.8630 and EUR/USD is trading in the region of 1.3268
Declining Asian stocks lessened the appeal of higher-yielding assets during the local session, and the ‘Aussie’ consequently fell against rivals including the US Dollar. The South Pacific currency also came under pressure as China’s leading index edged from a revised 99.72 to 99.55 in June.
AUD/GBP is trading in the region of 0.6016, AUD/EUR is trading in the region of 0.6966 and AUD/USD is trading in the region of 0.9242
New Zealand Dollar
As New Zealand’s Prime Minister asserted that the New Zealand Dollar is still ‘overvalued’ the ‘Kiwi’ slumped against the majority of its most traded peers, slipping to 80.71 against its US counterpart. Domestic news to look out for in the days ahead includes New Zealand’s building permits figures and business confidence survey.
NZD/GBP is trading in the region of 0.5249, NZD/EUR is trading in the region of 0.6088 and NZD/USD is trading in the region of 0.8065
As last week came to a close the Canadian Dollar continued to benefit from the nation’s better-than-expected retail sales report, posting a third consecutive five-day gain against the ‘Greenback.’ The biggest causes of ‘Loonie’ movement this week are likely to be news from the US and Canadian GDP figures.
CAD/GBP is trading in the region of 0.6336, CAD/EUR is trading in the region of 0.7341 and CAD/USD is trading in the region of 0.9741
These exchange rates were correct as of 9:15 am