Published: 24 Jun at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Germany, Japan, South Africa,
GBP/USD – Trading Lower, 1.5364
Sterling slipped to a more than two-week low against the US Dollar as the European session began. With the sale of UK government bonds looming the Pound also declined against the Euro. The biggest cause of Pound fluctuations in the week ahead is likely to be the Bank of England’s Financial Stability Report – due out on Wednesday.
USD/GBP – Trading Higher, 0.6507
The US Dollar is enjoying a bullish relationship with several of its most traded peers today as hopes that this week’s domestic data will show that the economic situation in the US is improving, upping the odds of the Fed tapering stimulus, bolster the currency.
EUR/USD – Little Changed, 1.3112
Following the release of German business climate indexes the Euro was little changed against its main peers. Although German business expectations climbed by more than expected the current situation index dropped by more than forecast.
AUD/USD – Little Changed, 0.9183
Last week disappointing domestic news and influential US developments saw the Australian Dollar fall to a three-year low against the ‘Greenback’. The South Pacific currency was little changed during local trade and a lack of volatile Australian data is likely to limit ‘Aussie’ fluctuations in the days ahead.
NZD/USD – Trading Lower, 0.7733
After a report showed that credit card spending in New Zealand dropped by 0.6 per cent in May (following a climb of 0.4 per cent in April) the ‘Kiwi’ softened slightly against the US Dollar. The New Zealand Dollar briefly hit a year-low of 77.01 during local trade.
CAD/USD – ‘Loonie’ Little Changed, 0.9517
Last Friday’s worse-than-expected Canadian CPI and retail sales reports pushed the Canadian Dollar to its largest 5-day drop against the US Dollar since September 2011. As the next big piece of Canadian news, GDP figures, isn’t due for release until Friday this week’s ‘Loonie’ movement is likely to be driven by US economic developments.
USD/JPY – Yen Weaker, 98.2300
The Yen turned bearish against most of its main currency rivals as the results of the Tokyo elections indicated that Prime Minister Shinzo Abe, and his controversial economic policies, have the support of the public. The safe-haven Yen fell to a two-week low against the US Dollar.
South African Rand
ZAR/USD – Little Changed, 10.2650
Following the extensive movement experienced by commodity-driven currencies last week, the Rand was calmer as markets reopened after the weekend. The South African currency was trading slightly higher against its US counterpart. Domestic data to look out for this week includes consumer confidence and balance of trade figures, due out on Wednesday and Friday respectively.
As of Monday, 24th June 2013, the Pound Sterling currency rates mentioned within this news item were as follows:
GBP EUR exchange rate was 1.1763, GBP USD exchange rate was 1.5447, GBP AUD exchange rate was 1.6675, GBP NZD exchange rate was 1.9898, GBP CAD exchange rate was 1.6221, GBP JPY exchange rate was 150.7052, and GBP ZAR exchange rate was 15.5593.