12th March 2014

AUD/USD Declines Continue for Fourth Day


Pound Sterling

Australian dollar exchange rate

While UK news was lacking on Monday the Pound still fluctuated modestly against peers like the US Dollar and Euro. The British currency is likely to remain trading in a comparatively narrow range ahead of Friday’s UK trade data.

GBP/EUR is trading in the region of 1.1960 and GBP/USD is trading in the region of 1.6576

US Dollar

Investors turned to lower-risk assets as Ukraine concerns continued and the ‘Greenback’ advanced on several of its peers. Further US Dollar movement may occur in response to today’s US MBA mortgage applications data.

USD/GBP is trading in the region of 0.6035 and USD/EUR is trading in the region of 0.7216

Euro

h3>

Following the release of a report which showed that industrial production in the Eurozone unexpectedly declined in January, the Euro was holding steady against the US Dollar. The publication of the ECB’s monthly report (which takes place tomorrow) is more likely to have an impact on the common currency’s exchange rate.

EUR/GBP is trading in the region of 0.8358 and EUR/USD is trading in the region of 1.3863

Australian Dollar

Mounting evidence of a slowdown in China and an unexpected decline in Australia’s consumer confidence index pushed the ‘Aussie’ lower against almost all of its major rivals overnight. Tomorrow’s Australian employment data could either help the currency recoup losses or see it extend declines.

AUD/GBP is trading in the region of 0.5380, AUD/EUR is trading in the region of 0.6446 and AUD/USD is trading in the region of 0.8951

#

New Zealand Dollar

Although Chinese news dampened the appeal of the ‘Kiwi’, the South Pacific asset remained stronger against the Pound ahead of the Reserve Bank of New Zealand’s rate decision. The majority of economists expect the central bank to introduce a rate increase.

NZD/GBP is trading in the region of 0.5098, NZD/EUR is trading in the region of 0.6114 and NZD/USD is trading in the region of 0.8458

Canadian Dollar

After trading in a narrow range yesterday the ‘Loonie’ was little-changed on Wednesday. Today’s Canadian Teranet/National Bank indexes are unlikely to have a considerable affect on the commodity-driven currency’s exchange rate.

CAD/GBP is trading in the region of 0.5414, CAD/EUR is trading in the region of 0.6490 and CAD/USD is trading in the region of 0.8996

These exchange rates were correct as of 11:30 GMT


Related articles articles