Compare exchange rates, send money abroad and online

Tue 16 Apr 2024 06:36GMT

Exchange Rate News: EUR/GBP Boosted By German PMI, AUD/USD Flounders

Published: 16 Dec at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Germany, Japan, South Africa,

Pound Sterling
GBP/USD– Trading in the Region 1.6326
A UK housing report may have shown a decline in house prices but Sterling was still able to sneak away from close to a two-week low against its North American peer as European trading began. The Pound was little changed against the Euro however ahead of tomorrow’s UK inflation figures.

US Dollar
While the ‘Greenback’ pared gains against rivals like the Euro as another week of trading began, the US Dollar could be heading for five-day gains against the majority of its currency counterparts. If today’s preliminary PMI and manufacturing figures add to the argument for the Federal Reserve trimming quantitative easing on Wednesday the US Dollar may climb.

EUR/USD – Trading in the Region of 1.3751
As the European session got underway surprisingly strong manufacturing reports for Germany and the Eurozone gave the Euro a boost. If today’s trade balance data for the 17-nation currency bloc also shows improvement the common currency could enjoy a bullish day.

Australian Dollar
AUD/USD – Trading in the Region of 0.8947
The Australian Dollar’s bearish relationship with its peers continued overnight as China’s flash manufacturing PMI fell short of economists’ expectations and investors speculated on the possible content of the minutes from the most recent Reserve Bank of Australia policy meeting.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8272
As a gauge of consumer confidence for New Zealand showed improvement the ‘Kiwi’ strengthened against several of its major counterparts. The South Pacific asset posted a particularly notable advance on a softening Australian Dollar.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9454
With influential Canadian data thin on the ground today the Canadian Dollar is unlikely to experience much movement in the hours ahead. The ‘Loonie’ slumped to a three-year low against the US Dollar last week and could extend declines if the Fed opts to taper stimulus.

Japanese Yen
USD/JPY – Trading in the Region of 103.0900
The Yen advanced from a five-year low against the ‘Greenback’ during Australasian trading despite a patchy stream of economic data for Japan. Although the Takan non-manufacturing and manufacturing indexes climbed, measures of manufacturing outlook declined.

South African Rand
USD/ZAR – Trading in the Region of 10.3320
As South Africa continues to mourn the loss of Nelson Mandela the Rand retained declines against the US Dollar ahead of this week’s FOMC announcement. With South African data lacking this week, global developments will be driving the emerging market asset’s movement.
As of Monday, 16th December 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1844, GBP USD exchange rate was 1.6299, GBP AUD exchange rate was 1.8231, GBP NZD exchange rate was 1.9731, GBP CAD exchange rate was 1.7265, GBP CNY exchange rate was 9.8958, GBP JPY exchange rate was 167.9488, and GBP ZAR exchange rate was 16.7662.
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