Compare exchange rates, send money abroad and online

Fri 19 Jul 2024 12:50GMT

Eurozone Growth Data And UK Employment Reports To Inspire Exchange Rate Movement

Published: 14 Aug at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, France, Germany, Japan, South Africa,

Pound Sterling
GBP/EUR – Trading in the Region of 1.1639
While the Pound was supported yesterday by positive UK news, the British currency softened modestly against the Euro this morning as the German economy recorded larger-than-expected growth. Sterling volatility is likely to occur in response to UK employment figures and the Bank of England’s policy meeting minutes as trade continues.

US Dollar
USD/EUR – Trading in the Region of 0.7538
Although US retail sales didn’t climb by as much as forecast, they still rose for a fourth month – a strong sign that the US economic recovery is gaining momentum. In response to the news the ‘Greenback’ advanced on its rivals. Today’s US producer price index, scheduled for publication at 13:30, will be of interest.

EUR/USD – Trading in the Region of 1.3259
Reports revealing larger-than-expected expansion in German and French economic growth bolstered the Euro this morning. The common currency could extend gains if Eurozone GDP also pleasantly surprises.

Australian Dollar
AUD/USD – Trading in the Region of 0.9099
The ‘Aussie’ shed recent gains against the US Dollar during the local session as the North American asset was supported by domestic data while the Australian economic outlook was dented by the news that national wage growth stagnated.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.7984
With New Zealand’s retail sales data surprising to the upside the ‘Kiwi’ was able to gain on its peers, posting a notable advance on the Australian Dollar. This latest piece of better-than-anticipated news has upped the odds of the Reserve Bank of New Zealand raising rates in the foreseeable future.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9655
With US retail sales climbing for a fourth consecutive month, supporting the case for the Federal Reserve tapering stimulus, the ‘Loonie’ softened against its US counterpart overnight. Once again, a lack of domestic data means that Canadian Dollar movement is most likely to be driven by global economic developments.

Japanese Yen
USD/JPY – Trading in the Region of 98.3800
The safe-haven Yen extended declines against peers including the US Dollar and Euro as positive global economic developments pushed investors away from the asset.

South African Rand
USD/ZAR – Trading in the Region of 9.9940
The death of a worker at a South African Mine lessened the appeal of the Rand and the commodity driven currency softened against peers including the US Dollar during the local session. The Rand was also adversely affected by positive US retail sales data, which boosted the ‘Greenback’ at the expense of emerging market currencies.
As of Wednesday, 14th August 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1697, GBP USD exchange rate was 1.5509, GBP AUD exchange rate was 1.6992, GBP NZD exchange rate was 1.9291, GBP CAD exchange rate was 1.6031, GBP JPY exchange rate was 151.9318, and GBP ZAR exchange rate was 15.4576.
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.

Live Exchange Rates