The Euro is trading at 1.1222 which is the high of the day.  The low has been 1.1159.  The Euro is trading at the high after the release of lots of economic data out of Europe today.  Spanish Manufacturing PMI was lower than expected posting 54.1.  Italian Manufacturing PMI beat expectations with 51.9.  European Final Manufacturing PMI was slightly lower than expected with 51.0.  Italian Monthly Unemployment Rate lowered to 12.6% while Italian Quarterly Unemployment Rate moved higher to 13.0%.  European CPI Flash Estimate was better than expected posting -0.3% while European Core CPI Flash Estimate met expectations with 0.6%.  Most recently the European Unemployment Rate fell to 11.2% beating expectations.  This data has encouraged the Euro to take back some of the ground it lost last Friday with the perception that these numbers are quite positive for the region.  These are early signs that growth may be returning to the region after experiencing a few months of faltering data that suggested otherwise.  This data will likely indicate that the ECB will probably maintain its current plan of QE in order for consistent progressive growth to return to the region.

The British Pound is trading at 1.5413 at the moment.  Sterling has traded as low as 1.5385 while the high has been 1.5428.  Cable has traded mixed following the release of economic data out of the UK earlier this morning.  UK Manufacturing PMI beat expectations to post 54.1.  UK Net Lending to Individuals was lower than expected with 2.4 billion Pounds.  UK M4 Money Supply was less than expected with a disappointing -0.8%.  UK Mortgage Approvals met expectations with 61K.  This mixed data has kept the Pound trading inside of the current range.  Looking ahead, the Bank of England makes its announcement on Rates on this coming Thursday.  This is sure to keep the Pound pegged with a cautious tone as Thursday approaches.  In addition, there will be more economic data released in the UK before then which should help to clarify exactly what the BOE will probably do.

The Japanese Yen is trading at 119.75 presently.  USD/JPY has traded as low as 119.63 while the high has been 119.97.  During the Asian session Japanese Capital Spending registered 2.8% which is lower than expected.  Japanese Manufacturing PMI registered 51.6 which slightly beat expectations.  This mixed data has not had too big an impact on USD/JPY today which is why the range has been pretty tight.  Looking ahead to the week, there is not a lot of significant Japanese economic data that will be released.  Therefore it is reasonable to expect USD/JPY movement will largely be impacted by news and data that is to be released out of the US.  As of this moment, USD/JPY remains poised towards the lower side of the range ahead of the US data that will be released later this morning.  This economic data is significant enough to widen the current range and will see the US Dollar advance if the numbers are better than expected.

AUD/USD is trading at 0.7785 while the low has been 0.7755 and the high has been 0.7807.

USD/CAD is trading at 1.2493 with the low being 1.2481 while the high has been 1.2526.


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.