Published: 15 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, Japan, South Africa,
GBP/USD â€“ Trading Lower
Although Pound Sterling fell against the US Dollar for a second day this morning the British currency was able to gain on the Euro after the publication of a positive housing report for the UK. According to Rightmove Plc, asking prices increased by 2.1 per cent from March as the amount of properties available declined. Tomorrowâ€™s UK Producer Price Index and Consumer Price Index are likely to trigger fluctuations in the Pound.
USD/JPY â€“ Trading Lower
Prior to Bank of Japan Governor Haruhiko Kurodaâ€™s speech the US Dollar strengthened against the Japanese Yen. However, the Yen pared losses after the US Treasury intimated that it would attempt to prevent Japan from devaluing its currency further. The â€˜Greenbackâ€™ gained on the majority of its other most traded peers after Chinese GDP figures failed to meet forecasts, denting the global economic outlook and increasing investor demand for safe-haven assets.
EUR/USD â€“ Trading Lower
â€™s first quarter GDP came in below economist forecasts, risk appetite declined and the Euro dipped against the safe-haven US Dollar. The Chinese economy expanded by 7.7 per cent in the first three months of 2013 rather than the 8 per cent industry experts expected. Trade balance figures for the Eurozone, due this morning at 10:00 am GMT, could inspire additional movement.
AUD/USD â€“ Trading Lower
Although the â€˜Aussieâ€™ declined against most of its currency rivals after Chinese GDP and industrial production reports disappointed expectations, the South Pacific currency was able to climb modestly after some positive domestic data. The number of Australian housing loan approvals increased by 2 per cent in February â€“ 0.5 per cent more than forecast. The Australian Dollar is likely to experience volatility following the release of minutes from the Reserve Bank of Australia
â€™s most recent policy meeting tomorrow.
NZD/USD â€“ Trading Lower
The â€˜Kiwiâ€™ slid during local trade after disappointing data raised concerns regarding the economic recovery of the worldâ€™s second largest economy. Although Chinaâ€™s economy expanded by a relatively strong 7.7 per cent in the first quarter of 2013, growth has slowed from the fourth quarter and was below economistsâ€™ expectations of 8 per cent expansion. The New Zealand Dollar fell against the majority of its counterparts following the news.
CAD/USD â€“ Trading Lower
On Friday the US released some disappointing retail sales data, dimming the trade prospects of neighbouring Canada
and lowering the â€˜Loonieâ€™. The Canadian Dollar also declined as a result of fresh Eurozone concerns and falling commodity prices. This afternoonâ€™s Canadian existing home sales figure could inspire further â€˜Loonieâ€™ movement.
JPY/USD â€“ Trading Higher
As disappointing Chinese data spurred investor demand for safe-haven assets the Yen gained on all but one of its most traded peers. The Yen also strengthened against safe-haven counterpart the US Dollar after the US intimated that Japan would be pressed into preventing additional Yen devaluation.
South African Rand
ZAR/USD â€“ Trading Lower
The Rand dropped against the â€˜Greenbackâ€™ on Friday after the publication of unimpressive US retail sales figures. Disappointing Chinese data also led to the South Africa
currency softening. The release of South African retail sales data could result in Rand fluctuations.
As of Monday, 15th April 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.1719, GBP USD exchange rate was 1.5292, GBP AUD exchange rate was 1.4794, GBP NZD exchange rate was 1.8134, GBP CAD exchange rate was 1.5649, GBP CNY exchange rate was 9.4608, GBP JPY exchange rate was 148.3802, and GBP ZAR exchange rate was 14.0702.