25th April 2014

EUR Stronger, GBP Static & CAD Softer


Pound Sterling

Euro to Pound

While UK retail sales figures modestly exceeded expectations, the Pound was little-changed against its major currency rivals. However, if next week’s UK GDP report shows the growth expected, Sterling could put on a more impressive performance.

GBP/EUR is trading in the region of 1.2148 and GBP/USD is trading in the region of 1.6817

US Dollar

Global developments have helped the ‘Greenback’ record a five day gain against peers like the Rupee and Australian Dollar. Before the weekend additional US Dollar movement could occur as a result of US services and confidence data, but investors will also be looking ahead to next week’s highly influential US non-farm payments report.

USD/GBP is trading in the region of 0.5947 and USD/EUR is trading in the region of 0.7224

Euro

A lack of economic data for the Eurozone left the Euro trading in a fairly narrow range against the Pound and US Dollar on Friday. As next week is data-heavy this calm spell might not last for long.

EUR/GBP is trading in the region of 0.8231 and EUR/USD is trading in the region of 1.3842

Australian Dollar

ANZAC Day closed Australasian trading on Friday, leaving the ‘Aussie’ ending the week in a softer position against the US Dollar. Investors will be hoping that next week’s economic reports add to the case for the Reserve Bank of Australia increasing interest rates and help the Australian Dollar recoup losses. AUD/GBP is trading in the region of 0.5519, AUD/EUR is trading in the region of 0.6717 and AUD/USD is trading in the region of 0.9287

New Zealand Dollar

The ‘Kiwi’ gains inspired by the Reserve Bank of New Zealand’s decision to increase interest rates held as the week ended. The New Zealand data to be aware of next week includes domestic trade balance, activity outlook and commodity price figures.

NZD/GBP is trading in the region of 0.5099, NZD/EUR is trading in the region of 0.6208 and NZD/USD is trading in the region of 0.8586

Canadian Dollar

The ‘Loonie’ softened against the Pound and US Dollar on Friday. While next week’s Canadian growth data could have an impact on the nation’s currency, Canadian Dollar volatility is more likely to be caused by news from the US, Ukraine and China.

CAD/GBP is trading in the region of 0.5396, CAD/EUR is trading in the region of 0.6577 and CAD/USD is trading in the region of 0.6555

These exchange rates were correct as of 14:50 GMT


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