The Euro is trading at 1.2518 at this writing. The Euro has rallied following ZEW Economic Sentiment data out of German and the EU. The low has been 1.2443 while the high has been 1.2540. The German ZEW number registered 11.5 which significantly surpassed expectations looking for 0.9. The European ZEW number also beat expectations of 4.3 with an 11.0 number. The Euro immediately rallied on the back of these data releases and has helped establish support for the currency in the short term. European Current Account data is the only economic release scheduled for tomorrow out of Europe. Today, however, US PPI data is due to be released and directional movement of the currencies may be influenced by this information.


The British Pound is trading at 1.5667 at present. The range in Cable is reasonably tight thus far today. This has happened in spite of the Inflation data released in the UK earlier this morning. The low has been 1.5630 while the high has been 1.5672. UK CPI was 1.3% just beating expectations while UK Core CPI was 1.5% and just below expectations. UK PPI Input was -1.5% and UK PPI Output was -0.3% both of which were lower than expected. Meeting Expectations was UK RPI at 2.3% and UK HPI at 12.1% respectively. These numbers did not have any surprises outside of what was expected therefore the Pound has remained in its tight range with a slight bias to the upside. Tomorrow will see the release of the last round of voting on rates by the Bank of England. This will help indicate the focus of the central bank going forward.


The Japanese Yen is trading at 116.68. With trading mixed throughout the day, USD/JPY has seen a low of 116.38 and a high of 117.05. No significant economic data has been released out of Japan today. This has allowed trading to remain mixed today. Tomorrow there is to be a Monetary Policy Statement and a BOJ Press Conference which will likely weigh on the currency directionally. All Industries Activity is also scheduled for release in Japan as well.


AUD/USD is trading at 0.8714 with the low being 0.8681 and the high being 0.8746.
USD/CAD is trading at 1.1288 with the low being 1.1259 and the high being 1.1306.


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.