Published: 13 Jan at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Japan, South Africa,
GBP/USDâ€“ Trading in the Region 1.6426
With UK retail sales and inflation data scheduled for publication this week the Pound is likely to experience considerable volatility over the next five-days. As it stands, the British asset is trading fairly strongly against the US Dollar but is slightly softer against the Euro.
USD/GBP â€“ Trading in the Region of 0.6085
Expectations regarding further tapering from the Fed were slightly dashed on Friday as the US economy added considerably less positions than forecast. The â€˜Greenbackâ€™ consequently slipped against the majority of its peers and was little changed as the European session opened.
EUR/USD â€“ Trading in the Region of 1.3666
As a new week of trading begins the Euro is holding on to gains recorded against the US Dollar on Friday following the release of disappointing US employment data. A lack of economic news for the Eurozone may keep Euro movement stilted in the hours ahead.
AUD/USD â€“ Trading in the Region of 0.9030
On Friday the â€˜Aussieâ€™ recovered ground in the aftermath of strong Chinese export data and an impressive surge in domestic new home sales. The Australian Dollar extended gains against several of its major rivals over the weekend as investors focused on this weekâ€™s Australian employment report, which is forecast to show a second month of gains.
NZD/USD â€“ Trading in the Region of 0.8320
While economic data for New Zealand has been a little lacking in recent weeks, the â€˜Kiwiâ€™ was able to advance on the US Dollar during the local session as the falling odds of the Federal Reserve maintaining an aggressive tapering policy gave the New Zealand Dollar a boost. In the hours ahead, New Zealandâ€™s retail card spending data could lend the â€˜Kiwiâ€™ additional support. Retail card spending is expected to have risen by 1.0 per cent in December.
CAD/USD â€“ Trading in the Region of 0.9162
The â€˜Loonieâ€™ ended the week on a low as news that Canada
â€™s unemployment rate had jumped from 6.9 per cent to 7.2 per cent left the currency struggling. The Canadian Dollar posted widespread declines and could fall further if this weekâ€™s domestic reports add to concerns regarding the instability of Canadaâ€™s economic recovery.
USD/JPY â€“ Trading in the Region of 103.4200
Overnight the Yen approached its strongest level against the US Dollar for three-weeks as the odds of the Fed continuing with its tapering programme were dampened by Fridayâ€™s disappointing US non-farm payrolls report.
South African Rand
USD/ZAR â€“ Trading in the Region of 10.6930
While the Rand spent much of last week locked in a bearish relationship with the majority of its peers as local labour unrest and Federal Reserve tapering speculation wore on the currency, it was able to recover some losses against the US Dollar as US employment figures failed to reach estimates. Tomorrow Rand volatility is likely to occur in response domestic mining production reports.
As of Monday, 13th January 2014, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.199, GBP USD exchange rate was 1.6389, GBP AUD exchange rate was 1.8113, GBP NZD exchange rate was 1.9564, GBP CAD exchange rate was 1.7836, GBP CNY exchange rate was 9.9045, GBP JPY exchange rate was 169.0043, and GBP ZAR exchange rate was 17.7067.