Published: 8 Jan at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Germany, Italy, Japan, South Africa,
GBP/USDâ€“ Trading in the Region 1.6416
The Pound advanced yesterday thanks to an upbeat report from the British Chambers of Commerce. The British asset experienced modest movement as the European session kicked off and a report showed that UK house prices fell for the first time in 11 months but fluctuations were slightly stilted before tomorrowâ€™s Bank of England announcement.
USD/GBP â€“ Trading in the Region of 0.6091
Before the publication of minutes from the latest Federal Open Market Committee policy meeting the US Dollar was holding onto gains recorded yesterday as a result of impressive domestic trade figures. If the FOMC minutes support the case for the Fed continuing to taper stimulus over the next few months the â€˜Buckâ€™ could climb further.
EUR/USD â€“ Trading in the Region of 1.3607
The Euro is likely to experience fluctuations over the course of the day in response to a stream of influential economic data for the Eurozone. While German exports rose by less-than-forecast the nation posted a larger trade surplus in November. Separate figures showed an increase in Italian unemployment. Eurozone retail sales/unemployment reports are still to be released.
AUD/USD â€“ Trading in the Region of 0.8915
After an Australian construction index fell to 50.8 from 55.2, dangerously close to the 50 mark separating growth from contraction, the â€˜Aussieâ€™ posted widespread declines. The Australian Dollarâ€™s bearish relationship with the â€˜Greenbackâ€™ may continue depending on the tone adopted in the minutes from the latest Federal Open Market Committee meeting.
NZD/USD â€“ Trading in the Region of 0.8271
Less-than-impressive economic news from Australia
helped the â€˜Kiwiâ€™ achieve a five-year high against its neighbouring rival in local trading. While a lack of pertinent economic news for New Zealand has limited â€˜Kiwiâ€™ movement over the course of this week some fluctuations may occur in response to todayâ€™s building permits figures.
CAD/USD â€“ Trading in the Region of 0.9241
Concerning Canadian trade balance data and the news that the nationâ€™s Ivey Purchasing Managers index fell below the 50 mark separating growth from contraction weighed on the â€˜Loonieâ€™ overnight. The Canadian Dollar slumped against the majority of its rivals and hit a three-year low against the â€˜Buckâ€™.
USD/JPY â€“ Trading in the Region of 104.9800
The Yen was brushing a five-year low against a bullish US Dollar during local trading. If todayâ€™s minutes from the latest FOMC meeting indicate that the Fed intends to continue tapering stimulus in the near term the Yen could edge lower.
South African Rand
USD/ZAR â€“ Trading in the Region of 10.6650
After slumping against the US Dollar in response to yesterdayâ€™s surprising US trade balance figures the Rand was able to claw back some losses following the release of better-than-forecast South African foreign exchange reserves data.
As of Wednesday, 8th January 2014, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.2118, GBP USD exchange rate was 1.6445, GBP AUD exchange rate was 1.85, GBP NZD exchange rate was 1.9905, GBP CAD exchange rate was 1.78, GBP JPY exchange rate was 172.4236, and GBP ZAR exchange rate was 17.7009.