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Exchange Rate News: US Employment Data In The Spotlight

Published: 7 Feb at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Germany, Japan, South Africa,

Pound Sterling
GBP/USD – Trading in the Region of 1.6324
The Pound began European trading in a slightly stronger position against the US Dollar and Euro. However, disappointing UK industrial/manufacturing production figures knocked Sterling as the day continued.

US Dollar
USD/GBP – Trading in the Region of 0.6121
This week has seen the publication of some fairly mixed economic reports for the US. However, the adverse impact of the negative figures could be wiped out if today’s US non-farm payrolls report shows the improvement expected.

EUR/USD – Trading in the Region of 1.3560
The Euro came under pressure during local trading as action taken by the ECB was questioned in the highest German court. Further Euro fluctuations could be triggered by today’s German industrial output report.

Australian Dollar
AUD/USD – Trading in the Region of 0.8942
Although an Australian construction report showed a contraction in output as 2014 began, the RBA’s upbeat quarterly economic statement helped the ‘Aussie’ advance on almost all of its most traded currency counterparts overnight.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8234
Another quiet news day for New Zealand left the ‘Kiwi’ trading in a fairly narrow range against its major rivals. The currency slipped against a strengthening ‘Aussie’ however and could end the week even lower against its US counterpart if today’s non-farm payrolls report shows a strong increase in positions.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9038
Last month’s Canadian employment figures were less-than-impressive and piled pressure on the ‘Loonie’. If today’s data also fails to reach estimates the Canadian Dollar could tumble before the weekend.

Japanese Yen
USD/JPY – Trading in the Region of 101.9900
Although both Japan’s coincident index and leading index improved by more-than-expected, the Yen remained weaker against the US Dollar at the close of local trading. If today’s US non-farm payrolls figure disappoints expectations it could inspire a bout of risk aversion and boost the Yen.

South African Rand
USD/ZAR – Trading in the Region of 11.0595
The Rand was holding fairly steady ahead of the release of US employment figures. A surprising result could trigger Rand movement before the weekend.
As of Friday, 7th February 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2034, GBP USD exchange rate was 1.641, GBP AUD exchange rate was 1.8324, GBP NZD exchange rate was 1.9781, GBP CAD exchange rate was 1.8103, GBP JPY exchange rate was 168.016, and GBP ZAR exchange rate was 18.1571.
Patrick James About Author: (289 Posts)Patrick completed his economics degree just as the global financial crisis struck in 2008. In the intervening years Patrick has made his mark, climbing to a prominent position within a large financial services provider. As part of his role Patrick uses his expertise to advise companies of the best ways to safeguard against currency risk.

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