The Euro is trading at 1.1129 at the moment.  The low has been 1.1126 while the high has been 1.1224.  The Euro has softened this morning versus the US Dollar with mixed Manufacturing PMI data from several countries in the region.  Spanish Manufacturing PMI was lower than expected posting 54.2.  This was followed by Italian Manufacturing PMI which was better than expected registering 53.8.  Next was French Final Manufacturing PMI which was lower than expected recording 48.0.  German final Manufacturing PMI was better than expected with 52.1 recorded.  This was followed by European Final Manufacturing PMI which slightly beat expectations with 52.0.  Finally, European Sentix Investor Confidence was 19.6 which was slightly better than expectations as well.  Overall, Manufacturing PMI in Europe fell slightly from the previous month but it is important to recognize that the sector still has positive signs of growth being shown in these numbers.  This may be a result of the QE plan that is currently in place in the Euro zone.  These signs of continuous growth are the ultimate objective of the stimulus program.

The British Pound is trading at 1.5115 at present.  The low in Sterling today has been 1.5101 while the high has been 1.5175.  The UK has a bank holiday today which accounts for the lower volume in trading today.  In the meantime, the Pound has softened a bit more versus the Dollar today as the Dollar is seeing increasing support following the selloff early last week.  This trend was reversed in trading on Friday and today some of that same momentum has continued to encourage the Dollar.  Looking ahead, the parliamentary elections are to be held this coming Thursday and the outcome is far from certain.  This uncertainty is likely to raise the impact it is having on the Pound as we get closer to the election date.  This is likely to be the biggest news out of the UK this week along with the feel-good emotions that are being seen with the arrival of the new baby Princess definitely helping to encourage a festive spirit.

The Japanese Yen is trading at 120.25 currently.  USD/JPY has traded as low as 119.99 while the high has been 120.27.  The USD/JPY range is quite tight today with Japan also observing a bank holiday today.  Thin markets have been the norm today which explains the limited movement of USD/JPY up to this point.  Japan will be off on holiday until Wednesday which is likely to limit movement of USD/JPY during that time.  The wider range of 118.00-121.00 is likely to remain intact in the short term unless data from outside Japan has a bigger than expected impact on the region.

AUD/USD is trading at 0.7830 with the low being 0.7802 while the high has been 0.7845.

USD/CAD is trading at 1.2132 with the low being 1.2108 and the high being 1.2181.


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.