Pound Sterling GBP/EUR
The Pound fell against all of its most traded peers on Monday after the UK economic surprise index slid to its lowest level in three weeks on the back of last week’s negative data releases. Against the Euro, Sterling made a third consecutive day of declines. The losses are likely to be short-lived if tomorrows UK inflation data comes in better than expected.
Currently the Pound is trading in the region of 1.1995 against the Euro and 1.6379 against the US Dollar.
US Dollar USD/EUR
The ‘Greenback’ was softer against the Euro after the US currency continued to be weighed down by last week’s weaker than expected jobs data. The currency was also under pressure from economist expectations that Tuesday’s retails sales growth data will show a slow down. If so then speculation will increase that the Federal Reserve could decide against faster tapering of its quantitative easing programme.
Currently the US Dollar is trading in the region of 0.6104 against the Pound and 0.7324 against the Euro.
The Euro
The Euro strengthened against the Pound and US Dollar but fell against the commodity based currencies. The single currency found support on a quiet news day from positive data out of Italy which showed that the regions third largest economy in the Eurozone saw its industrial production increase more than expected. Portugal and Greece both published better-than-forecast inflation data.
Currently the Euro is trading in the region of 0.8335 against the Pound and 1.3653 against the US Dollar.
Australian Dollar AUD/EUR
The ‘Aussie’ climbed to a one-month against the US Dollar and recovered ground against the Pound and Euro due to speculation that a data report due on Thursday will show that the number of new jobs created in Australia rose for a second consecutive month. The currency also found support from a home loans report which came in better-than-expected.
Currently the Australian Dollar is trading in the region of 0.5527 against the Pound, 0.6632 against the Euro and 0.9055 against the US Dollar.
Canadian Dollar CAD/EUR
The Canadian Dollar is weaker against the majority of its most traded peers following last week’s disappointing employment report. The data showed that the economy lost 46,000 jobs and unemployment climbed to 7.2%.
Currently the Canadian Dollar is trading in the region of 0.5613 against the Pound, 0.6734 against the Euro and 0.9195 against the US Dollar.
