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Tue 25 Jun 2019 18:53GMT

Aussie Drops As Unemployment Climbs AUD/USD, Kiwi Rallies NZD/USD

Published: 12 Sep at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Japan, South Africa,

Pound Sterling
Yesterday’s stronger-than-anticipated UK employment figures saw the Pound rally against its rivals. The most influential UK news on the cards for today will be Bank of England Governor Mark Carney’s testimony to Parliament.
GBP/EUR – Trading in the Region of 1.1869

US Dollar
USD/EUR – Trading in the Region of 0.7517
Prior to the release of the US initial jobless claims report the ‘Greenback’ lost ground against several of its most traded currency counterparts. Economists are expecting that the Federal Open Market Committee will be dovish next week. If this estimation proves accurate the US Dollar’s downward trend is likely to continue.

Euro
EUR/USD – Trading in the Region of 1.3306
With the minutes from the European Central Bank’s latest policy meeting and Eurozone industrial production figures scheduled for release today the Euro could fluctuate in the hours ahead. Although the common currency was able to achieve a month-high against a broadly softening US Dollar, if today’s US initial jobless claims report surprises to the upside the EUR/USD pairing may shed gains.

Australian Dollar
AUD/USD – Trading in the Region of 0.9244
During Australasian trading the ‘Aussie’ fell against peers like the US Dollar as a domestic report revealed that the nation’s unemployment rate had unexpectedly advanced to a four-year high.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8133
Although the Reserve Bank of New Zealand opted to hold rates at their latest policy meeting, as expected by economists, the central bank hinted at a potential rate increase in the near future and the ‘Kiwi’ surged as a result.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9695
Overnight the ‘Loonie’ largely retained gains against the US Dollar. The commodity-driven asset could advance further if today’s Canadian new housing price index continues the recent trend of surprisingly strong data for the world’s 11th largest economy.

Japanese Yen
USD/JPY – Trading in the Region of 99.5200
The Yen climbed on its US counterpart as speculation regarding the Federal Reserve tapering stimulus weighed on the ‘Greenback’. A disappointing machine orders report for Japan had little impact on the Asian asset.

South African Rand
USD/ZAR – Trading in the Region of 9.8835
After hitting a month-high against the US Dollar yesterday the Rand consolidated gains as the local session opened. Today’s domestic mining production figures could impact the South African asset in the hours ahead.
As of Thursday, 12th September 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1884, GBP USD exchange rate was 1.5803, GBP AUD exchange rate was 1.7062, GBP NZD exchange rate was 1.9443, GBP CAD exchange rate was 1.6319, GBP JPY exchange rate was 157.3711, and GBP ZAR exchange rate was 15.7462.
Laura Parsons About Author: (357 Posts)Laura works in the financial sector as a currency analyst, studying the latest global economic developments and assessing their impact on the foreign exchange market. Laura uses her currency knowledge to write articles focussing on market movements and trends for several independent financial websites.

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