Published: 20 Apr at 11 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Germany, Greece, India, Switzerland,
On Monday the UKâ€™s Rightmove House Price report showed a 1.6% month-on-month increase in April, up from the 1.0% gain recorded the previous month. On the year, price growth eased from 5.4% to 4.7%, but the data had little impact on the Pound. Sterling managed to advance on the Euro following the release of Germany
â€™s Producer Price Index and the Eurozoneâ€™s Construction Output report.
After the level of construction output in the Eurozone was shown to have fallen by -3.7% on the year in February rather than rising the 0.9% expected, the Euro declined against peers like the Pound and US Dollar. The ongoing negotiations between Greece
and its creditors are likely to continue affecting the common currencyâ€™s performance this week.
Ahead of the release of the US Chicago Fed National Activity Index, the â€˜Greenbackâ€™ was trading higher against the Pound, Euro, Swiss Franc and Indian Rupee. The US Dollar lost ground last week as disappointing US reports pushed back US interest rate hike expectations, but if this weekâ€™s ecostats support the case in favour of borrowing costs being raised in the summer, the â€˜Buckâ€™ could return to bullish form.
The introduction of stimulus measures from the Peopleâ€™s Bank of China
(PBoC) drove the â€˜Aussieâ€™ higher over the weekend. The PBoCâ€™s decision to take steps was due to the recent run of poor Chinese reports and as China is Australia
â€™s largest trading partner, the development gave the Australian Dollar a boost.
A positive domestic Performance of Services Index, coupled with the PBoC stimulus, helped the New Zealand Dollar rally over the weekend. The â€˜Kiwiâ€™ gained even as New Zealandâ€™s latest batch of inflation data fell short of the mark.
The â€˜Loonieâ€™ was trending in a stronger position ahead of a speech to be given by Bank of Canada
Governor Stephen Poloz thanks to an increase in oil prices. The Canadian Dollar was supported last week as the BOC left interest rates on hold and Canada published better0than-expected retail sales figures.
As of Monday, 20th April 2015, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.3877, GBP USD exchange rate was 1.4901, GBP AUD exchange rate was 1.9297, GBP NZD exchange rate was 1.9448, GBP CAD exchange rate was 1.8225, GBP CNY exchange rate was 9.2402, GBP INR exchange rate was 93.8389, and GBP CHF exchange rate was 1.4245.