10th February 2014

USD Still Softer after US Employment Data


Pound Sterling

Dollar currency news

After beginning local trading in a slightly softer position against the Euro and US Dollar, the Pound was little changed following the release of a report which showed a strong improvement in UK employment confidence.

The Pound is expected to remain under pressure until the Bank of England’s inflation report is published.

GBP/EUR is trading in the region of 1.2020 and GBP/USD is trading in the region of 1.6388

US Dollar

On Friday a disappointing US non-farm payrolls report pushed the ‘Greenback’ lower against its main rivals. The North American asset is likely to trade in a fairly narrow range today due to a lack of economic reports for the US.

USD/GBP is trading in the region of 0.6100 and USD/EUR is trading in the region of 0.7334

Euro

The Euro edged higher against some of its most-traded peers as a Sentix measure of investor confidence in the Eurozone climbed unexpectedly in February. However, common currency gains were limited by the news that industrial production in France slowed.

EUR/GBP is trading in the region of 0.8322 and EUR/USD is trading in the region of 1.3634

Australian Dollar

Last week the ‘Aussie’ advanced on its US and New Zealand counterparts in the aftermath of the Reserve Bank of Australia’s rate decision. However, the South Pacific currency is feeling the pressure ahead of the release of this week’s Australian employment report and has trimmed some of its recent gains.

AUD/GBP is trading in the region of 0.5449, AUD/EUR is trading in the region of 0.6546 and AUD/USD is trading in the region of 0.8932.

New Zealand Dollar

The ‘Kiwi’ was holding steady against its main currency peers overnight as a report showed that New Zealand’s house prices increased by an annual 9.6 per cent in January, just down from December’s year-on-year increase of 10.0 per cent.

NZD/GBP is trading in the region of 0.5047, NZD/EUR is trading in the region of 0.6062 and NZD/USD is trading in the region of 0.8266

Canadian Dollar

After rallying on Friday thanks to an unexpectedly impressive Canadian employment figure, the ‘Loonie’ eased back a bit over the weekend. Today’s Canadian housing starts figure could impact the commodity-driven currency.

CAD/GBP is trading in the region of 0.5529, CAD/EUR is trading in the region of 0.6649 and CAD/USD is trading in the region of 0.9065

These exchange rates were correct as of 11:20 am

Article by Daniel Wood. Find me on Google Plus.


Related articles articles