Published: 13 Nov 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 – Trading in the Region of 1.1828
The Pound began the local session little changed against its main peers having posted widespread losses yesterday. With employment figures showing that the UK economy added more positions than expected in September and that the unemployment rate dipped to 7.6 per cent, Pound fluctuations are likely. However, with the Bank of England inflation report still to come additional Sterling volatility can be expected.
USD/EUR – Trading in the Region of 0.7445
The odds of the Federal Reserve tapering stimulus before the spring of 2014 are rising with every positive US economic report, and the ‘Greenback’ has broadly strengthened as a result. Additional advances could be inspired by today’s US mortgage applications data and the release of the US budget statement for October.
EUR/USD – Trading in the Region of 1.3435
After yesterday’s inflation data for Germany
and the UK was released the Euro ended European trading in a stronger position against the Pound. However, the common currency adopted a bearish relationship with the US Dollar overnight and could decline further if today’s Eurozone industrial production data disappoints.
AUD/USD – Trading in the Region of 0.9289
Yesterday hawkish comments from one Federal Reserve official and encouraging domestic data increased bets that the US central bank will trim easing before next spring. Consequently, during the South Pacific session the ‘Aussie’ drifted close to an eight-week low against the US Dollar.
NZD/USD – Trading in the Region of 0.8211
After drifting close to an eight-week low against the US Dollar the ‘Kiwi’ enjoyed a modest rebound after Reserve Bank of New Zealand Governor Graeme Wheeler commented that the local currency could climb once interest rates are increased next year.
CAD/USD – Trading in the Region of 0.9540
With the recent run of positive US data supporting the case for the Federal Reserve tapering stimulus before next spring, the commodity-driven ‘Loonie’ has softened against its US peer. Although a domestic new housing price index is scheduled for release tomorrow, with Canadian news thin on the ground today ‘Loonie’ movement may be driven by US developments.
USD/JPY – Trading in the Region of 99.5600
During Asian trading the Yen managed to recover ground against the Euro as the common currency began to feel the pressure ahead of tomorrow’s influential Eurozone growth reports. The Yen was slightly stronger against the US Dollar before the publication of Japanese GDP data.
South African Rand
USD/ZAR – Trading in the Region of 10.3530
With South African retail sales figures due to be released later today the Rand fluctuated against a bullish US Dollar. If sales increase by more than the 2.5 per cent year-on-year gain estimated the Rand could claw back recent losses.
As of Wednesday, 13th November 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.1898, GBP USD exchange rate was 1.6046, GBP AUD exchange rate was 1.7137, GBP NZD exchange rate was 1.936, GBP CAD exchange rate was 1.6767, GBP JPY exchange rate was 159.2298, and GBP ZAR exchange rate was 16.4914.