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Sun 20 Oct 2019 09:24GMT

Calm Returns To Markets, NZD, AUD, GBP In Line for Weekly Gain Against USD

Published: 19 Jul 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, Greece, Ireland, Italy, Japan, South Africa, Portugal,

Pound Sterling
GBP/EUR – Trading in the Region of 1.1607
With a UK public finance report showing that Britain’s budget deficit unexpectedly widened in June from the same period of the previous year the Pound fluctuated as the European session progressed. Investors will now be looking ahead to next week’s second quarter GDP figures for the UK.

US Dollar
USD/EUR – Trading in the Region of 0.7615
Further hints from Federal Reserve Chairman Ben Bernanke regarding US quantitative easing saw the US Dollar broadly soften overnight. It now seems increasingly likely that the Fed will maintain an accommodative level of easing until next year.

Euro (Currency of Germany, France, Spain, Italy, Portugal, Greece, Ireland etc)
EUR/USD – Trading in the Region of 1.3128
As the European session began the Euro was little changed against its most traded peers. The common currency was unaffected by the news that Germany’s producer prices stagnated last month, but could experience movement against the Pound following the release of UK public finance figures.

Australian Dollar
AUD/USD – Trading in the Region of 0.9173
Although Australia’s Dollar softened slightly against its US counterpart during the local session the South Pacific asset is still in line to record a five-day gain of 1.3 per cent against the US Dollar – it’s most significant weekly gain since March.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.7915

After credit card spending in New Zealand was shown to have surged by 5.4 per cent last month the ‘Kiwi’ was supported and able to strengthen against several of its main peers. This week the New Zealand Dollar has advanced by 1.7 per cent against the ‘Greenback’.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9649
‘Loonie’ volatility can be expected to occur today following the publication of inflation figures for Canada. The Canadian Dollar was able to advance on its US peer yesterday as a result of positive US employment data and climbing crude oil prices.

Japanese Yen
USD/JPY – Trading in the Region of 100.2100
Ahead of the upper-house elections of Japan’s parliament on the 21st Asian stocks declined and the Yen strengthened against peers including the US Dollar.

South African Rand
ZAR/USD – Trading in the Region of 9.8956
After the Reserve Bank of South Africa opted to keep rates unchanged, as expected, the Rand was little changed against the US Dollar. The central bank also lowered South Africa’s growth forecast to 2 per cent from a previous estimate of 2.4 per cent.
As of Friday, 19th July 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1617, GBP USD exchange rate was 1.5268, GBP AUD exchange rate was 1.6649, GBP NZD exchange rate was 1.9282, GBP CAD exchange rate was 1.583, GBP JPY exchange rate was 153.6566, and GBP ZAR exchange rate was 15.0723.
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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