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Exchange Rate News: Eurozone unemployment data to cause volatility

Published: 29 Nov at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, Japan, South Africa,

Pound Sterling
GBP/USD– Trading in the Region of 1.6332
The Pound is set to make a fourth-weekly gain against the US Dollar as investors expect a report due for release by the Bank of England later in the session will show that the number of mortgages approved in October increased. The currency remains buoyed by the positive GDP data released earlier in the week.

US Dollar
USD/EUR – Trading in the Region of 0.7348
The US Dollar is on track to a weekly decline against the Pound and is unlikely to see much volatility today to the US markets being closed for a second day for the Thanksgiving holiday period.

The Euro
EUR/USD – Trading in the Region of 1.3608
The Euro is on course to make a third monthly gain against the US Dollar after the currency found some support from news that credit ratings agency Standard & Poor’s raised Spain’s credit rating from negative to stable. The currency could fall later however if unemployment data for the Eurozone disappoints.

Australian Dollar
AUD/USD – Trading in the Region of 0.9108
The ‘Aussie’ is on course to make a sixth weekly decline and is trading close to a two-and-a-half year low against the US Dollar and remains close to a three year low against the Pound.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8123
The ‘Kiwi’ followed its Australian relation downward against its peers due to the thin trading due to the U.S. Thanksgiving holiday.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9444
The Canadian Dollar firmed after Statistics Canada reported that the nation’s current account deficit decreased by C$500 million to C$15.5 billion in the third quarter. That was still about $1 billion more than economists expected.

Japanese Yen
USD/JPY – Trading in the Region of 102.3351
The Yen continued to weaken after a gauge of Japan’s prices hit a 15 year high as high energy costs and the weaker Yen fuelled inflation in the nation, adding further signs that Prime Minister Shinzo Abe’s economic plans are succeeding in stamping out deflation concerns.

South African Rand
USD/ZAR – Trading in the Region of 10.2149
The Rand will see movement later in the session sees the release of South Africa’s latest trade data which will set the tone for the currencies movements throughout the day. The nation’s trade deficit is not expected to narrow significantly.

As of Friday, 29th November 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2044, GBP USD exchange rate was 1.6369, GBP AUD exchange rate was 1.7972, GBP NZD exchange rate was 2.0155, GBP CAD exchange rate was 1.7374, GBP JPY exchange rate was 167.6926, and GBP ZAR exchange rate was 16.6549.
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.

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