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Eurozone Inflation Causes Euro Fluctuations, US GDP To Come

Published: 30 Apr at 12 PM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Germany, Japan, South Africa,

Pound Sterling
GBP/USD – Trading in the Region of 1.6816
The Pound was little-changed against peers like the US Dollar and Euro on Wednesday. Yesterday’s disappointing UK growth figures inspired some Sterling losses, but a positive domestic consumer confidence report kept the currency on an even keel.

US Dollar
USD/GBP – Trading in the Region of 0.5946
While the US Dollar edged lower after US consumer confidence unexpectedly fell, the safe-haven currency was holding steady ahead of today’s all-important US growth figures and Federal Open Market Committee rate decision.

EUR/USD – Trading in the Region of 1.3822
The Euro put on a mixed performance during the local session as a result of disappointing German retail sales figures and below-forecast inflation data for the Eurozone. However, an impressive drop in German unemployment limited losses in the common currency.

Australian Dollar
AUD/USD – Trading in the Region of 0.9270
Over the course of Australasian trading the ‘Aussie’ benefited from increased risk-appetite among investors. The Australian Dollar was barely affected by a domestic private sector credit report but could experience volatility overnight as manufacturing figures for Australia and China are published.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8556
After New Zealand’s building permits report showed an unexpected 8.3 per cent surge the ‘Kiwi’ was supported against several of its rivals. Although domestic activity outlook and business confidence measures declined, the New Zealand Dollar closed the local session in a stronger position.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9128
Ahead of the release of Canadian growth data, the ‘Loonie’ was modestly stronger against the Pound and US Dollar. Month-on-month growth of 0.2 per cent is expected.

Japanese Yen
USD/JPY – Trading in the Region of 102.4900
As the Bank of Japan opted to leave stimulus unaltered at its latest policy meeting the Yen rallied against several of its main currency counterparts.

South African Rand
USD/ZAR – Trading in the Region of 10.5535
Before the publication of South African trade data the Rand was softer against the US Dollar. A concerning number could push the Rand lower as trading continues.
As of Wednesday, 30th April 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2167, GBP USD exchange rate was 1.6875, GBP AUD exchange rate was 1.8179, GBP NZD exchange rate was 1.9596, GBP CAD exchange rate was 1.8503, GBP CNY exchange rate was 10.5624, GBP JPY exchange rate was 172.5495, and GBP ZAR exchange rate was 17.7605.
Dominic Lee About Author: (474 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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