US and Eurozone data could inspire movement

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Pound Sterling

Better-than-expected UK industrial/manufacturing production figures allowed the Pound to modestly advance on the US Dollar yesterday. A lack of economic news for the UK in the days ahead is likely to keep Sterling movement restrained, although US and Eurozone data could inspire movement.

The Pound is presently trading against the Euro in the region of 1.1696 and is trading against the US Dollar in the region of 1.5327

US Dollar

Prior to this evening’s release of minutes from the most recent FOMC meeting, the US Dollar gained on a broadly softening Japanese Yen. Given last week’s disappointing US employment data, tomorrow’s initial jobless claims figures could trigger additional ‘Greenback’ fluctuations.

The US Dollar is presently trading against the Pound in the region of 0.6519 and is trading against the Euro in the region of 0.7628

Euro

Yesterday the Euro advanced on the US Dollar for a fifth day and achieved a three-year high against the Japanese Yen. With a lack of Eurozone news restraining further movement investors will be looking to this evenings FOMC minutes publication and tomorrow’s German CPI figures.

The Euro is presently trading against the Pound in the region of 0.8552 and is trading against the US Dollar in the region of 1.3109

Australian Dollar

Following the publication of data which showed a significant increase in the level of Chinese imports the Australian Dollar climbed against most of its major currency rivals. Improved Australian trade prospects allowed the ‘Aussie’ to extend recent gains against the Yen and US Dollar.

The Australian Dollar is presently trading against the Pound in the region of 0.6860, is trading against the Euro in the region of 0.8022 and is trading against the US Dollar in the region of 1.0512

New Zealand Dollar

The New Zealand Dollar achieved an over 18-month high against the US Dollar during local trade after Chinese imports were shown to have gained by 14.1 per cent in March. The figure was over double that forecast by economists and brightened New Zealand’s trade outlook.

The New Zealand Dollar is presently trading against the Pound in the region of 0.5564, is trading against the Euro in the region of 0.6509 and is trading against the US Dollar in the region of 0.8540

Canadian Dollar

Although the ‘Loonie’ briefly rose against the US Dollar following the release of a better-than-anticipated housing starts figure, it shed gains after crude oil dropped. The minutes from the FOMC’s most recent policy meeting will be of particular interest to the Canadian Dollar today.

The Canadian Dollar is presently trading against the Pound in the region of 0.6421, is trading against the Euro in the region of 0.7518 and is trading against the US Dollar in the region of 0.9855

These exchange rates were correct as of 9:25 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.