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Exchange Rate News: AUD Drops As Unemployment Jumps

Published: 13 Feb 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,

Pound Sterling
GBP/USD – Trading in the Region of 1.6644
The Pound trimmed yesterday’s gain against the Euro as a measure of UK house prices edged lower in January. However, Sterling is still enjoying a competitively bullish relationship with several of its main rivals thanks to yesterday’s upbeat Bank of England inflation report.

US Dollar
USD/GBP – Trading in the Region of 0.6009
With the publication of advance US retail sales figures looming the ‘Greenback’ was feeling the pressure. However, if today’s sales report shows an increase in sales, rather than the stagnation expected, the US Dollar could recoup losses during local trading.

EUR/USD – Trading in the Region of 1.3663
The Euro was little changed against its main rivals following the release of German inflation figures, but the common currency could fluctuate in the hours ahead as a result of the European Central Bank’s monthly report.

Australian Dollar
AUD/USD – Trading in the Region of 0.8954
A shocking decline in Australian employment pushed the nation’s unemployment rate to 6.0 per cent – the highest level for over ten years. The ‘Aussie’ consequently posted widespread declines and ended Australasian trading softer against almost all of its currency peers.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8323
Data showing a sixteenth month of expansion in New Zealand’s manufacturing activity helped the ‘Kiwi’ achieve a two-week high against its Australian neighbour and strengthen against several of its other currency counterparts. However, the New Zealand Dollar was softer against a buoyed Pound.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9110
Canadian Dollar movement was a little restricted yesterday due to a lack of domestic economic news. While the ‘Loonie’ could fluctuate today as a result of Canada’s new housing price index, today’s US advance retail sales report will be the main cause of market movement.

Japanese Yen
USD/JPY – Trading in the Region of 102.0700
Overnight the Yen rallied as investors turned to the safe-haven asset in the wake of Asian stocks dropping. As it stands, Japan’s currency is preparing to post its most significant gain against the US Dollar for over a week.

South African Rand
USD/ZAR – Trading in the Region of 11.0020
Unexpectedly strong retail sales data from South Africa helped the Rand advance on its peers yesterday. The emerging-market asset could extend gains if today’s US retail sales report shows the stagnation expected.
As of Thursday, 13th February 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2178, GBP USD exchange rate was 1.6655, GBP AUD exchange rate was 1.8542, GBP NZD exchange rate was 1.9959, GBP CAD exchange rate was 1.8285, GBP JPY exchange rate was 170.2097, and GBP ZAR exchange rate was 18.2963.
Laura Parsons About Author: (360 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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