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GBP/EUR Lower, GBP/USD Holding Steady - AUD Volatility Expected

Published: 16 Feb at 11 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Greece,

Pound Sterling
While the UK’s Rightmove House Price report had little impact on the Pound Sterling exchange rate, despite showing a marked decrease in annual house price growth, the Pound did drift lower against the Euro. The GBP/EUR pairing declined by around 0.3% as investors bet that today’s Eurogroup talks could see Greece reach an agreement with its creditors.

US Dollar
As US markets are closed for the President’s Day national holiday, ‘Greenback’ movement might be limited today. However, the US Dollar could fluctuate tomorrow following the publication of the US Empire Manufacturing Index and NAHB Housing Market Index.

The common currency strengthened against the majority of its most-traded counterparts on Monday as the Eurogroup prepared to hash out a deal regarding Greece’s debt obligations. A wider-than-expected trade surplus for the Eurozone lent the Euro additional support.

Australian Dollar
Although Australian New Motor Vehicle Sales data was mixed, the ‘Aussie’ managed to eke out a modest gain against the US Dollar during the local session. However, if the RBA’s meeting minutes (due out at 00:30 GMT) indicate that the central bank is prepared to cut interest rates further, the Australian Dollar could slide to fresh lows.

New Zealand Dollar
Over the course of Australasian trading, the New Zealand Dollar advanced to a record high against the Australian Dollar thanks to better-than-expected domestic retail sales figures. The ‘Kiwi’ was also trending in a stronger position against both the Pound and US Dollar as a result of the 1.7% fourth quarter retail sales result.

Canadian Dollar
A better-than-expected Canadian Manufacturing Shipments report boosted the ‘Loonie’ against its peers on Friday, but the commodity-driven currency has since fallen by 0.4% against the Euro and 0.2% against the US Dollar.
As of Monday, 16th February 2015, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.355, GBP USD exchange rate was 1.5355, GBP AUD exchange rate was 1.9794, GBP NZD exchange rate was 2.0518, and GBP CAD exchange rate was 1.9158.
Patrick James About Author: (289 Posts)Patrick completed his economics degree just as the global financial crisis struck in 2008. In the intervening years Patrick has made his mark, climbing to a prominent position within a large financial services provider. As part of his role Patrick uses his expertise to advise companies of the best ways to safeguard against currency risk.

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