9th April 2014

Euro Falls after ECB Announcement, Pound Steady


Pound Sterling

Euro to Pound

As the Bank of England left policy unaltered and interest rates unchanged at its latest policy meeting the Pound was little changed against the majority of its currency counterparts on Thursday. With UK trade and industrial production figures due out tomorrow more Pound movement could occur before the weekend.

GBP/EUR is trading in the region of 1.2229 and GBP/USD is trading in the region of 1.6957

US Dollar

While the ‘Greenback’ remained on the back foot following Fed Chairwoman Janet Yellen’s dovish testimony, the currency was modestly supported as US initial jobless claims were shown to have fallen by more than expected in the week ending May 3rd. That being said, the US Dollar continued trading in a softer position against the Pound and ‘Aussie’.

USD/GBP is trading in the region of 0.5898 and USD/EUR is trading in the region of 0.7188

Euro

After jumping in the immediate aftermath of the European Central Bank’s decision to leave policy unaltered the Euro broadly softened. Declines in the common currency were triggered as ECB chief Mario Draghi implied that additional stimulus will be introduced in June.

EUR/GBP is trading in the region of 0.8178 and EUR/USD is trading in the region of 1.3859

Australian Dollar

Unexpectedly upbeat Australian employment figures and better-than-forecast trade data from China boosted the ‘Aussie’ during the local session. Further Australian Dollar volatility could be inspired by the Reserve Bank of Australia’s monetary policy statement.

AUD/GBP is trading in the region of 0.5527, AUD/EUR is trading in the region of 0.6754 and AUD/USD is trading in the region of 0.9388

New Zealand Dollar

Before the release of New Zealand’s card spending figures, the commodity-driven currency was struggling against its US and Australian rivals. If card spending is shown to have declined in April, following a 0.2 per cent dip in March, the ‘Kiwi’ could soften further.

NZD/GBP is trading in the region of 0.5098, NZD/EUR is trading in the region of 0.6229 and NZD/USD is trading in the region of 0.8652

Canadian Dollar

The ‘Loonie’ advanced on Thursday in response to an upbeat new housing price index for Canada. Impressive employment figures from the nation could help the Canadian Dollar extend gains tomorrow.

CAD/GBP is trading in the region of 0.5435, CAD/EUR is trading in the region of 0.6642 and CAD/USD is trading in the region of 0.9205

These exchange rates were correct as of 16:45 GMT


Related articles articles