Pound Sterling
The Pound fell against all of its peers as the session progressed. Positive manufacturing data out of the US sent the Dollar higher whilst disappointing data out of the UK broadly weakened Sterling. The U.K. manufacturing purchasing managers’ index fell to 56.0 in October, from a downwardly revised reading of 56.3 recorded in the previous month. Analysts had expected the index to fall down to 56.1 last month.
Currently the Pound is trading in the region of 1.1825 against the Euro and 1.5994 against the US Dollar.
US Dollar
The ‘Greenback’ climbed to a two-and-half week high against the Euro as yesterdays disappointing inflation and unemployment data weighed heavily upon the single currency. Inflation in the region fell to a four-year low and unemployment in Italy hit a new record high, which caused investors to speculate that the European Central Bank will decide to cut interest rates.
Currently the US Dollar is trading in the region of 0.6252 against the Pound and 0.7393 against the Euro.
The Euro
The Euro fell to a two-week low against the US Dollar and made its biggest weekly loss September against the Pound as the single currency remained under heavy pressure from Thursdays bad inflation and jobs data. Speculation that the ECB could cut interest rates by as soon as next week to bolster the regions faltering economy also weighed, sending investors to safe haven alternatives.
Currently the Euro is trading in the region of 0.8456 against the British Pound and 1.3525 against the US Dollar.
Australian Dollar
The ‘Aussie’ rose against most of its peers following the release of better-than-expected inflation data and an upbeat Chinese manufacturing report. Official data showed that producer price inflation in Australia rose to 1.3% in the third quarter, exceeding expectations for a 0.7% uptick. China’s latest PMI released earlier in the day rose to 51.4 in October, the highest in 18 months, from 51.1 in September.
Currently the Australian Dollar is trading in the region of 0.5917 against the Pound, 0.6997 against the Euro and 0.9464 against the US Dollar.
New Zealand Dollar
The ‘Kiwi’ followed its Australian relation higher against the Pound and Euro following the release of better-than-expected data out of China and found support from the Federal Reserve’s decision to delay tapering its monetary easing programme.
Currently the New Zealand Dollar is trading in the region of 0.5163 against the Pound, 0.6106 against the Euro and 0.8258 against the US Dollar.
Canadian Dollar
The ‘Loonie’ continued to trade higher against the Pound as it continued to benefit from Thursday’s better-than-expected GDP data. Against the Euro the currency made its best two-day performance in eight months. Against the Euro the currency softened as investors turn their attention to the ECB’s next policy meeting.
Currently the Canadian Dollar is trading in the region of 0.6000 against the Pound, 0.7095 against the Euro and 0.9596 against the US Dollar.
