9th March 2014

AUD Stronger, GBP Supported, USD Recovers Ground


Pound Sterling

Euro to Pound

Sterling might be trading in a narrow range ahead of tomorrow’s Bank of England rate decision, but the British currency was modestly boosted by today’s report showing a smaller-than-forecast UK trade deficit.

GBP/EUR is trading in the region of 1.2131 and GBP/USD is trading in the region of 1.6739

US Dollar

With the minutes from the latest Federal Open Market Committee policy meeting due for publication in just a few hours, the US Dollar was able to recover some of its recent declines against peers like the Yen and Euro.

USD/GBP is trading in the region of 0.5974 and USD/EUR is trading in the region of 0.7245

Euro

With currency volatility low, Euro movement was restrained. Early in European trading the asset posted a modest decline against the Pound as a result of below forecast German trade figures.

EUR/GBP is trading in the region of 0.8242 and EUR/USD is trading in the region of 1.3796

Australian Dollar

As the Westpac consumer confidence index for Australia showed a slight improvement, and domestic home loans jumped by considerably more than expected, the ‘Aussie’ was trading close to a five-month high against the US Dollar. The South Pacific currency was also stronger against the Pound and Euro, although gains could be reversed if tomorrow’s Australian employment figures disappoint.

AUD/GBP is trading in the region of 0.5595, AUD/EUR is trading in the region of 0.6785 and AUD/USD is trading in the region of 0.9368

New Zealand Dollar

While New Zealand’s card spending data was a little disappointing, showing an unexpected stagnation in retail expenditure, Australia’s positive reports ensured that the ‘Kiwi’ closed the local session higher.

NZD/GBP is trading in the region of 0.5187, NZD/EUR is trading in the region of 0.6303 and NZD/USD is trading in the region of 0.8682

Canadian Dollar

Yesterday’s Canadian housing figures were less-than-impressive and took a toll on the ‘Loonie’. However, the commodity-driven asset is holding steady in a light news day. Today’s FOMC minutes are likely to be the next cause of Canadian Dollar volatility.

CAD/GBP is trading in the region of 0.5468, CAD/EUR is trading in the region of 0.6632 and CAD/USD is trading in the region of 0.9152

These exchange rates were correct as of 12:55 GMT


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