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Fri 21 Feb 2020 08:29GMT

FX Today: GBP, AUD Strengthen, USD, EUR, CAD Decline

Published: 30 Dec at 5 PM Tags: Euro, Dollar, Pound Sterling, America, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Greece,

Pound Sterling
The morning’s Nationwide House Price report has little impact on the Pound as the annual decrease in house price gains from 8.5% in November to 7.2% in December was expected by economists. However, the British currency did strengthen against the Euro and US Dollar as Greek concerns weighed on the former asset and disappointing domestic data took a toll on the latter.

Euro
The common currency began the day trending in a softer position against several of its most traded currency counterparts as investors dwelt on the potential introduction of additional stimulus measures by the European Central Bank. The negative repercussions the upcoming Greek election could have on the Eurozone as a whole also kept the Euro under pressure.

US Dollar
A smaller-than-expected increase in a gauge of US Consumer Confidence saw the US Dollar ease lower against the Pound, Euro and Australian Dollar during the North American session. If tomorrow’s US initial jobless and continuing claims figures reveal an increase in the number of people applying for unemployment benefits, the US Dollar could extend declines before markets close for the New Year break.

Australian Dollar
Improving gold prices and the prospect of further fiscal intervention from the People’s Bank of China boosted the Australian Dollar on Tuesday. The South Pacific asset advanced by 0.7% against the US Dollar, although weakness in the AUD/NZD exchange rate persisted.

New Zealand Dollar
The Australian Dollar to New Zealand Dollar (AUD/NZD) exchange rate approached parity overnight despite the ‘Kiwi’ losing ground against several of its other most-traded currency counterparts. The odds of the Reserve Bank of New Zealand introducing an interest rate hike while the Reserve Bank of Australia brings in an interest rate cut in 2015 are helping the ‘Kiwi’ trend higher against the ‘Aussie’.

Canadian Dollar
With commodity prices keeping the ‘Loonie’ pressured and no domestic data curbing the assets downtrend, the Canadian Dollar continues to trade lower against peers like the US Dollar and Pound.


As of Tuesday, 30th December 2014, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.2799, GBP USD exchange rate was 1.5566, GBP AUD exchange rate was 1.9022, GBP NZD exchange rate was 1.9873, GBP CAD exchange rate was 1.8066, and GBP CNY exchange rate was 9.6538.
Patrick James About Author: (289 Posts)Patrick completed his economics degree just as the global financial crisis struck in 2008. In the intervening years Patrick has made his mark, climbing to a prominent position within a large financial services provider. As part of his role Patrick uses his expertise to advise companies of the best ways to safeguard against currency risk.

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