The Euro is trading at 1.2355 at present.  The low has been 1.2349 while the high has been 1.2393.  The Euro is trading closer to the low of the range leading up to the US unemployment economic data release this morning.  Earlier this morning, German Factory Orders registered a gain of 2.5% which was better than expectations.  However, this improved information has not encouraged the Euro to move higher.  This is because the US data is likely to have a huge effect on the directional movement of currency markets once the data is revealed and the anticipation for the numbers to assist the bullish US Dollar trend is quite high. 

The British Pound is trading at 1.5691 at the moment which is just 4 pips off of the high of the day.  The low has been 1.5623.  The UK posted the Consumer Inflation Expectations which registered a 2.5% gain since the previous release.  The Cable saw a steady rally following the release of this data moving from around the 1.5660 level to the high of the day.  Despite this UK data encouraging the Pound higher, the US Employment data will set the tone of the markets for the day with volumes at a slightly lower level in anticipation of the critical US data. 

The Japanese Yen is trading at 120.62 at this writing which is 6 pips lower than the USD/JPY high of 120.68.  The low has been 119.70.  The Yen remains under pressure from the strengthening US dollar.  This recent rally started around the beginning of the European session today.  Earlier, Japanese Leading Indicators registered 104.0% which was slightly lower than expectations.  This may have been the catalyst to begin this recent US dollar rally.  Currently, the US Dollar is holding on to the recent gains ahead of the important US data out later this morning.  Looking ahead to next week, there will be quite a bit of Japanese economic data released which will give a better picture of the Japanese economy.  Right now all eyes remain focused towards the US data out later this morning.

AUD/USD is trading at 0.8364 with the low being 0.8359 and the high being 0.8393.

USD/Cad is trading at 1.1401 with the low being 1.1380 and the high being 1.1417.


This information has been prepared to provide you with general information only. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information.