Published: 7 Aug at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, France, Germany, Greece, Ireland, Italy, Japan, South Africa, Portugal,
GBP/EUR – Trading in the Region of 1.1524
Although Sterling was able to climb against its peers yesterday in reaction to better-than-expected UK housing and industrial production data, the British currency weakened against the US Dollar and Euro as investors speculate on the outcome of today’s Bank of England inflation report. What Governor Mark Carney has to say about interest rates could inspire significant Pound movement.
USD/EUR – Trading in the Region of 0.7532
While the US Dollar advanced on a softening Pound ahead of today’s Bank of England inflation report, the safe-haven asset tumbled against the Yen as the Japanese currency was boosted by speculation surrounding the Bank of Japan’s policy meeting. US data to look out for today includes the nation’s consumer credit report.
Euro (Currency of Germany
EUR/USD – Trading in the Region of 1.3281
As the European session began the Euro was trading slightly higher against the Pound but little changed against the US Dollar. The most pertinent piece of economic news from the Eurozone to watch out for today is German industrial production figures, due out at 11:00 GMT.
AUD/USD – Trading in the Region of 0.8933
During the local session the ‘Aussie’ pared its recent advance against the US Dollar and declined against several of its most traded counterparts. Australia
’s currency was adversely effected by the expectation that tomorrow’s domestic employment report will show that the nation’s unemployment rate climbed to the highest level in four years.
NZD/USD – Trading in the Region of 0.7903
Although New Zealand’s unemployment rate unexpectedly climbed to 6.4 per cent, the ‘Kiwi’ was largely able to retain gains against the US Dollar as a positive response at a milk powder auction allayed concerns regarding China
’s ban on certain dairy products from New Zealand.
CAD/USD – Trading in the Region of 0.9608
’s trade balance data was more positive than forecast, the commodity-driven currency softened against its US counterpart as US trade deficit figures also surprised to the upside. As the day progresses ‘Loonie’ fluctuations are likely to occur in response to Canadian building permits data and an Ivey purchasing managers index.
USD/JPY – Trading in the Region of 96.8900
With the Bank of Japan’s two day policy meeting well underway the Yen was able to surge to an almost seven-week high against the US Dollar and gain on the majority of its other most traded rivals. Investors are expecting the BOJ to leave its current level of stimulus unchanged.
South African Rand
ZAR/USD – Trading in the Region of 9.9050
As the local session began the Rand firmed slightly against the US Dollar. South Africa
’s currency is likely to remain under pressure ahead of tomorrow’s domestic manufacturing production data.
As of Wednesday, 7th August 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.1616, GBP USD exchange rate was 1.5491, GBP AUD exchange rate was 1.721, GBP NZD exchange rate was 1.9458, GBP CAD exchange rate was 1.6148, GBP CNY exchange rate was 9.479, GBP JPY exchange rate was 149.5122, and GBP ZAR exchange rate was 15.4018.