Published: 3 Feb at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Japan, South Africa,
GBP/USDâ€“ Trading in the Region 1.6393
The Pound began local trading softer against the US Dollar and Euro as economists forecast that todayâ€™s report would confirm that the pace of expansion in the UKâ€™s manufacturing sector slowed in January. A pleasantly surprising result could help Sterling recover losses, although the currency is likely to continue struggling against a buoyed Euro.
USD/GBP â€“ Trading in the Region of 0.6100
On Friday the US Dollar was boosted by the news that personal spending increased by more-than-forecast while the Chicago Purchasing Manager measure and University of Michigan confidence index edged higher than expected. Today â€˜Greenbackâ€™ movement could be inspired by the US ISM manufacturing report.
EUR/USD â€“ Trading in the Region of 1.3493
The expectation that inflation concerns will push the ECB into issuing an additional rate cut wore on the Euro over the weekend but the common-currency was able to stage a recovery as manufacturing reports for the Eurozone and its two largest economies surprised to the upside.
AUD/USD â€“ Trading in the Region of 0.8758
Although the AiG performance of manufacturing index for Australia
declined in January and manufacturing/non manufacturing reports for China
failed to meet estimates, the â€˜Aussieâ€™ remained supported against its major peers. The South Pacific asset held on to gains against the Pound and Euro ahead of the Reserve Bank of Australiaâ€™s rate decision.
NZD/USD â€“ Trading in the Region of 0.8098
The â€˜Kiwiâ€™ edged away from recent highs overnight as Chinaâ€™s PMI data slightly dampened New Zealandâ€™s trade prospects. However, the NZD/GBP pairing continues to trade in the region of an eighteen-month high ahead of tomorrowâ€™s employment report for New Zealand.
CAD/USD â€“ Trading in the Region of 0.9012
At the close of last week the â€˜Loonieâ€™ strengthened modestly against its US counterpart. The commodity-driven currency could extend gains today if Canada
â€™s industrial product price and raw materials price reports show improvement.
USD/JPY â€“ Trading in the Region of 102.1900
After posting a notable gain against its US rival the Yen declined overnight as investors looked ahead to this weekâ€™s speech from Bank of Japan Deputy Governor Kikuo Iwata.
South African Rand
USD/ZAR â€“ Trading in the Region of 11.1675
An ongoing aversion to emerging market assets left the Rand struggling as local trading began. Although a lack of influential South African data could limit Rand movement in the hours ahead, US data releases will be of interest.
As of Monday, 3rd February 2014, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.2061, GBP USD exchange rate was 1.6309, GBP AUD exchange rate was 1.8639, GBP NZD exchange rate was 2.0205, GBP CAD exchange rate was 1.8115, GBP CNY exchange rate was 9.8848, GBP JPY exchange rate was 164.9982, and GBP ZAR exchange rate was 18.3219.