The Euro is trading at 1.0774 at this writing.  The low has traded at 1.0751 while the high has traded at 1.0817.  The Euro has eased a bit this morning following the release of a host of European economic data.  Both French and German Preliminary GDP met expectations registering 0.3% and 0.3% respectively.  French Preliminary Non-Farm Payrolls also met expectations with 0.1% recorded.  Italian Preliminary GDP is slightly lower than expected posting 0.2% while European Flash GDP is also lower than expected with 0.3% recorded.  However, European Trade Balance beat expectations to register 20.1 billion Euros.  The Euro has since eased a bit after seeing highs above 1.0800 this morning and yesterday following testimony from Fed Chair Janet Yellen.  In comments the Fed Chair made in regards to the US economy, no hint was dropped in reference to a potential rate hike taking place at the next FOMC meeting scheduled for mid-December.  Nothing was mentioned about the Fed’s view of the US economy in the short term.  Investors now direct their attention towards the US data that will be released later this morning which will be highlighted by the latest US Retail Sales and US PPI numbers.  This data will set the tone for the currency markets as they wind down towards the close for this week.

The British Pound is trading at 1.5220 at the moment.  The low has traded at 1.5198 while the high has traded at 1.5235.  In similar fashion as the Euro, the Pound has eased a bit this morning following the rally made yesterday by the currencies against the US Dollar.  Today, UK Construction Output was lower than expected registering -0.2% when a gain of 1.5% was anticipated.  Although this data was negative, the Pound has not softened by very much.  In fact, Cable actually remains quite buoyant.  With investors now looking ahead to the US economic data that will be released later this morning, Sterling continues to trade inside of the established range for today.  Expect a break of these current parameters if the US data wavers outside the expectations.  There will also be the release of the UK CB leading Index numbers out later this morning which will add to the speculation in the market before the close.

The Japanese Yen is trading at 122.61 currently.  USD/JPY has traded as low as 122.49 while the high has traded at 122.80.  The Yen strengthened yesterday as investors were left looking for more information following comments from Fed Chair Janet Yellen who failed to discuss any possible near-term observations for the US economy.  This left investors feeling uncertain about the chances for a rate hike at the FOMC meeting in December.  Today, Japanese Revised Industrial Production was slightly better than expected registering 1.1% while Japanese Tertiary Industry Activity was lower than expected posting -0.4%.  This mixed data has left the Yen holding inside of the current established range.  Investors now view the US data that will be released later today as the next opportunity for a final directional move ahead of the market close for this week.

AUD/USD is trading at 0.7140 with the low trading at 0.7119 and the high trading at 0.7153.
USD/CAD is trading at 1.3276 with the low being 1.3266 and the high being 1.3310.
——————————————————————————————————————————————
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.