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Mon 13 Jul 2020 04:46GMT

AUD, NZD, CAD Softer after Chinese Trade Data, GBP Steady before CPI

Published: 13 Apr at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Greece,

Pound Sterling
This week the Pound is likely to experience notable movement as the UK releases both inflation and employment figures. However, the week gets off to a slow start in terms of data, and Sterling movement may be limited on Monday. That being said, any commentary relating to the upcoming UK election will be of interest.

As has been the case since January, the situation in Greece continues to have a considerable impact on demand for the Euro. As the nation has yet to present its creditors with a revised list of reforms, the common currency is likely to remain under pressure in the hours ahead. There are no ecostats for the currency bloc to be aware of today.

US Dollar
Last week’s Federal Open Market Committee minutes supported the case in favour of a summer interest rate increase from the Federal Reserve and gave the US Dollar a boost. Although US data was mixed, the ‘Greenback’ held these gains into the weekend and was further supported by the risk-off environment created by China’s sub-par trade data.

Australian Dollar
During the Australasian session the Australian Dollar fell to a low of 0.7564 against the US Dollar as data showed a sharper-than-expected drop in Chinese exports in March. If Australia’s NAB Business Confidence and Business Conditions indexes show improved sentiment, the ‘Aussie’ could recover some ground as the week progresses.

New Zealand Dollar
The New Zealand Dollar, like its commodity-currency counterparts, weakened following the release of China’s latest trade figures. The ‘Kiwi’ shed over 0.7% against a number of its rivals and slid to a low of 0.5092 against the Pound.

Canadian Dollar
At the close of last week the Canadian Dollar gained on several of its peers as the Canadian economy was shown to have added an unexpected number of positions, resulting in a stagnant rather than worsening unemployment rate. Although the ‘Loonie’ did decline in response to China’s trade data, losses were limited due to an increase in oil prices.
As of Monday, 13th April 2015, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.3877, GBP USD exchange rate was 1.4671, GBP AUD exchange rate was 1.9333, GBP NZD exchange rate was 1.968, GBP CAD exchange rate was 1.8477, and GBP CNY exchange rate was 9.1205.
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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