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Mon 30 Nov 2020 20:52GMT

Exchange Rate New: AUD/NZD Close To 8-Year Low

Published: 27 Jan 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,

Pound Sterling
GBP/USD– Trading in the Region 1.6515
With UK GDP data scheduled for release tomorrow the Pound was able to post a modest gain against the US Dollar. However, Sterling’s advance on the Euro was short lived as surprisingly strong German sentiment measures helped the common currency advance.

US Dollar
USD/GBP – Trading in the Region of 0.6057
Although the ‘Greenback’ slipped slightly against its UK rival over the weekend, the safe-haven asset could broadly strengthen if today’s US new home sales figures add to the case for the Federal Reserve tapering stimulus by more than 5 billion Dollars when it meets this week.

Euro
EUR/USD – Trading in the Region of 1.3711
Early in the European session the Euro advanced on several of its most traded peers as German business climate/current assessment/expectations reports exceeded economists’ expectations. The upbeat reports are a sign that Germany will continue to support the Eurozone in the New Year.

Australian Dollar
AUD/USD – Trading in the Region of 0.8716
Although the ‘Aussie’ fell to a fresh eight-year low against its New Zealand counterpart during the local session, the South Pacific asset edged away from a 3 ½ year low against the US Dollar. Today’s Australian conference board leading index could cause the currency additional movement.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8241
Although a performance of services index showed that New Zealand’s non-manufacturing sector expanded for an eighth month, the commodity-driven currency was little changed against the majority of its peers as local markets closed for a public holiday.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9046
After fluctuating on Friday in response to Canadian inflation data the ‘Loonie’ plummeted below 90 cents against the US Dollar and was struggling against several of its other main rivals. The main Canadian data to watch out for this week is the nation’s GDP report, scheduled for publication on Friday.

Japanese Yen
USD/JPY – Trading in the Region of 102.3100
Following the release of Japanese trade data the Yen dropped against the US Dollar, ending two days of gains. The report showed that Japan’s trade deficit expanded to record levels in 2013.

South African Rand
USD/ZAR – Trading in the Region of 11.1885
Talks to end South Africa’s Platinum strike resumed today but the Rand remained locked in a bearish relationship with its major peers and was close to a five-year low against the US Dollar.
As of Monday, 27th January 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2121, GBP USD exchange rate was 1.6574, GBP AUD exchange rate was 1.8982, GBP NZD exchange rate was 2.0156, GBP CAD exchange rate was 1.8424, GBP JPY exchange rate was 170.1794, and GBP ZAR exchange rate was 18.422.
Dominic Lee About Author: (443 Posts)With over ten years experience as an economist – including four years spent as a chief economist with a major currency broker – Dominic has acquired a wealth of knowledge which he uses to forecast market movements. Dominic now works as an independent business advisor and writes for several financial publications.

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