£ GBP/EUR – Pound Sterling
The Pound broadly strengthened after the GfK consumer confidence index for the UK jumped from -13 in August to -10 in September, an almost six-month high and a better improvement than economists were expecting.
The Pound also benefited from a report showing that British house prices increased at the most rapid annual pace for over three years this month.
The Pound Sterling/Euro Exchange Rate is currently in the region of: 1.1903
€ EUR – Euro
The Euro strengthened against the US Dollar as concerns over the US debt ceiling weighed upon the American currency. The single currency made gains after data showed that economic confidence in the Eurozone improved. Adding to the positive picture for the region was the release of German Consumer Price Index which held steady. The steady level is good news for domestic consumer consumption and has been bolstered by the end of the Eurozone’s record long recession.
The Euro/US Dollar Exchange Rate is currently in the region of: 1.3508
The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8401
$USD/EUR – US Dollar
The ‘Greenback’ tumbled against the Pound and Euro but made gains against the commodity and emerging market currencies. Positive consumer spending and income data was unable to divert investor worries from a possible shut down of the US Federal government as an impasse over the US budget rumbles on. Consumer confidence fell to a five-month low.
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7403
$AUD/EUR – Australian Dollar
The ‘Aussie’ is on course to make its first weekly decline in September as demand for riskier assets waned as fears over a US government shutdown spooked the markets. The currency looks set to fall further ahead of next week’s Reserve Bank of Australia policy meeting as speculation rises that the Bank may choose to make another interest rate cut.
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6902
$NZD/EUR – New Zealand Dollar
The ‘Kiwi’ followed its Australian relation downwards as news from the United States dominates market sentiment. All eyes will be on next week’s developments in the USA’s corridors of power. If politicians cannot agree to lift the nation’s debt ceiling next month then Federal government will shut down.
The New Zealand Dollar /Euro Exchange Rate is currently in the region of: 0.6131
$CAD/EUR – Canadian Dollar
The Canadian Dollar fell to a weekly low against the US Dollar and softened against Sterling after the nation’s biggest export of crude oil traded at its lowest-level since July. The ‘Loonie’ was also affected by the weakening demand for riskier assets in the wake of the looming political crisis in the USA.
The Canadian Dollar /Euro Exchange Rate is currently in the region of: 0.7168
