Published: 9 Oct 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,
GBP/EUR â€“ Trading in the Region of 1.1853
Worse than anticipated industrial/manufacturing production and trade balance data saw the Pound extend recent declines against the Euro and US Dollar as the European session progressed. Although the British currency could claw back losses if todayâ€™s NIESR GDP estimate is strong, Sterling is likely to remain under pressure prior to tomorrowâ€™s Bank of England rate decision.
USD/EUR â€“ Trading in the Region of 0.7394
While news that Janet Yellen, a supporter of quantitative easing, is set to become the next Chairman of the Federal Reserve saw the US Dollar fluctuate against several of its peers, the â€˜Greenbackâ€™ was able to advance on the Yen as the safe haven asset lost its appeal.
EUR/USD â€“ Trading in the Region of 1.3526
A less-than-impressive factory orders figure from Germany
weakened the Euro yesterday and continued to weigh on the common currency as Wednesdayâ€™s European session began. If todayâ€™s German industrial production data shows the 1.4 per cent drop anticipated, further Euro losses could occur.
AUD/USD â€“ Trading in the Region of 0.9436
â€™s consumer confidence index showed a decline in sentiment, the â€˜Aussieâ€™ was still able to end local trade slightly stronger against the US Dollar as investors looked ahead to tomorrowâ€™s employment figures. The reports are expected to show that Australiaâ€™s unemployment rate held at 5.8 per cent in September, with the economy adding 15,000 positions.
NZD/USD â€“ Trading in the Region of 0.8287
With retail card spending in New Zealand defying expectations for an increase of 0.3 per cent by dropping 0.8 per cent, the â€˜Kiwiâ€™ fell against its US and British counterparts overnight. However, the South Pacific currency could recover ground if todayâ€™s performance of manufacturing index delivers a pleasant surprise.
CAD/USD â€“ Trading in the Region of 0.9643
While a report published yesterday revealed a stronger-than-forecast increase in Canadian housing starts, US inspired concerns weighed on the â€˜Loonieâ€™ and pushed the commodity-driven asset to a four-week low against its US rival.
USD/JPY â€“ Trading in the Region of 97.3500
During Australasian trading the Yen slid against several of its higher-yielding peers as investors turned from the safe-haven asset in response to Janet Yellen speculation. The Yen was little affected by the publication of minutes from the Bank of Japanâ€™s latest policy meeting.
South African Rand
USD/ZAR â€“ Trading in the Region of 9.9578
The Rand rallied to a week high against the US Dollar as the odds of QE-supporting Janet Yellen adopting the role of Chairman of the Federal Reserve increased. While US news will be the main market-mover today, investors will also be looking ahead to tomorrowâ€™s South African mining/manufacturing production figures.
As of Wednesday, 9th October 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.1803, GBP USD exchange rate was 1.5958, GBP AUD exchange rate was 1.6881, GBP NZD exchange rate was 1.9225, GBP CAD exchange rate was 1.6584, GBP JPY exchange rate was 155.5484, and GBP ZAR exchange rate was 15.9026.