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Mon 15 Jul 2019 20:57GMT

Pound (GBP) Little Changed, Euro (EUR) Weaker And US Dollar (USD) Stronger Ahead of Retail Sales Data

Published: 15 Jul at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, France, Germany, Greece, Ireland, Italy, Japan, South Africa, Portugal,

Pound Sterling
GBP/USD – Trading in the Region of 1.5089
Although a UK report revealed that home sellers raised asking prices to record levels in July, the Pound was little changed against peers like the US Dollar as the European session began. However, with UK retail sales, employment and inflation data all on the cards for this week Sterling volatility can be expected.

US Dollar
USD/EUR – Trading in the Region of 0.7660
With today’s US retail sales data expected to deliver a positive result, the bullish ‘Greenback’ was able to advance on the majority of its currency rivals this morning. Economists have forecast that sales climbed by 0.7 per cent last month and if the figure should meet or exceed these expectations additional US Dollar gains are likely.

Euro (Currency of Germany, France, Spain, Italy, Portugal, Greece, Ireland etc)
EUR/USD – Trading in the Region of 1.3052
A lack of economic news for the Eurozone may limit movement in the common currency in the hours ahead, although influential retail sales figures from the US could inspire market fluctuations. The Euro was trading moderately lower against rivals including the US Dollar and Yen as local trade began.

Australian Dollar
AUD/USD – Trading in the Region of 0.9100
After a report showed that China’s economy expanded by 7.5 per cent in the second quarter of this year, as industry experts expected, the ‘Aussie’ posted moderate but widespread, gains. Investors will now be looking ahead to the release of minutes for this month’s Reserve Bank of Australia policy meeting at 02:30 GMT.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.7813
Although New Zealand’s performance of services index fell from a negatively revised 56 in May to 55 in June, the ‘Kiwi’ garnered support from positive growth data in China and held steady against most of its currency peers. Today’s US news could be responsible for additional New Zealand Dollar movement in the hours ahead.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9649
With the release of US retail sales and Canadian existing home sales data imminent the ‘Loonie’ was little changed against its American rival. Last week Canada's currency experienced notable volatility as a result of news regarding the Federal Reserve and tapering easing. This week any positive US news, which could add to the case for a reduction of stimulus, could cause ‘Loonie’ fluctuations.

Japanese Yen
USD/JPY – Trading in the Region of 99.6000
Following the publication of Chinese growth data the US dollar advanced on the safe-haven Yen. With Japan’s markets closed for a national holiday, further Yen movement may be limited.

South African Rand
ZAR/USD – Trading in the Region of 9.9598
A slow news day saw the Rand slightly softer against the US Dollar as local trade began. South African data to look out for this week includes consumer confidence and retail sales figures, out on Wednesday, and the Reserve Bank of South Africa’s rate decision on Friday.
As of Monday, 15th July 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1562, GBP USD exchange rate was 1.5098, GBP AUD exchange rate was 1.6612, GBP NZD exchange rate was 1.9371, GBP CAD exchange rate was 1.5756, GBP CNY exchange rate was 9.2663, GBP JPY exchange rate was 150.9148, and GBP ZAR exchange rate was 14.9214.
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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