Pound Sterling
The Pound began the week trading close to a seven-month high against the Euro. An absence of pertinent domestic economic news may limit Sterling fluctuations during the local session. However Chancellor of the Exchequer George Osborne’s speech regarding the UK’s austerity measures will be of interest.
GBP/EUR – Trading in the Region of 1.1884

US Dollar
USD/EUR – Trading in the Region of 0.7591
Although the US Dollar softened against its peers on Friday as less-than-impressive employment data lowered the odds of the Federal Reserve tapering stimulus this month, over the weekend the safe-haven asset largely recovered losses. The ‘Greenback’ also strengthened against the Yen as positive news from Japan lowered the Asian currency’s appeal.

Euro
EUR/USD – Trading in the Region of 1.3121
Over the weekend the cautious Eurozone outlook presented by European Central Bank President Mario Draghi continued to put pressure on the Euro. However, with the Eurozone Sentix investor confidence gauge surging by considerably more than forecast the common currency could enjoy a rebound in the hours ahead.

Australian Dollar
AUD/USD – Trading in the Region of 0.9203
Better-than-forecast Chinese export data, coupled with the expectation that this week’s industrial production report for the Asian nation will also show improvement helped the ‘Aussie’ achieve a three-week high against the ‘Greenback’. The Australian Dollar also gained on several of its other main rivals.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.7992
Encouraging export data from China helped the New Zealand Dollar post notable gains against peers including the US Dollar and Yen during Australasian trading. With domestic card spending data due for release at 23:45 GMT the ‘Kiwi’ is likely to experience further movement.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9554
While today’s US data is set to be the main market mover, Canadian employment figures will also be of particular interest. The ‘Loonie’ could rally against its peers if the Canadian economy adds 20,000 positions as forecast.

Japanese Yen
USD/JPY – Trading in the Region of 99.5900
After Japan’s 2020 Olympic bid was victorious, confidence in the nation’s economic recovery was boosted and the Yen softened against its major peers. The appeal of the safe-haven asset was further reduced as China’s exports increased, improving global trade prospects.

South African Rand
After last week’s US non-farm payrolls report failed to live up to expectations, dampening speculation regarding the Federal Reserve tapering easing, the Rand was able to strengthen to a three-week high against its North American rival. However, the currency began the local session slightly softer as investors reassessed the Fed QE situation.
USD/ZAR – Trading in the Region of 10.0025