The Euro is trading at 1.1088 at the moment. The low has traded at 1.1086 while the high has traded at 1.1184. The Euro gained a bit of ground on the US Dollar before easing back this morning as the trading week has a quiet start. European Sentix Investor Confidence was lower than expected registering 6.0 instead of 7.3 that was anticipated. This data did little to prevent the Euro from easing higher as European trading began. At the moment the Euro is just off of the low of the day as the Euro consolidated a bit earlier this morning. Friday’s US jobs data encouraged a rally by the US Dollar. However, investors still harbor uncertainties about how much the Fed will continue to raise interest rates in 2016. Recent global economic pressures are being seen as reason for the Fed to be more cautious in the future. Looking ahead, there is critical inflation and GDP data that will be released in Europe later this week. Expect directional movement by the Euro following the release of this data as this information will indicate how the European economy is progressing and what effect this is having on the currency.
The British Pound is trading at 1.4375 at this writing. Sterling has traded at a low of 1.4350 while the high has traded at 1.4546. Cable has eased versus the US Dollar today with no significant UK economic data released. Concerns over the state of the global economy are back at the forefront of investors’ minds. These concerns are reflected in the advancement of the Dollar this morning which sees the greenback appear to be a less risky investment than its other major peers. UK data is expected to be on the light side this week. However, of the data that is to be released, UK Trade Balance which will be released tomorrow and UK Manufacturing and Industrial Production data expected on Wednesday will be a few of the Highlights out of the region. Additionally, continued focus will be directed towards the coming referendum where UK citizens will vote on whether they will remain members of the European Union. There are many issues that will weigh into arguments to remain a member while other issues will encourage voters to want to opt out of the EU. These issues will carry more emphasis as we get closer to the actual voting date. But you can be sure that the issues are being evaluated by all concerned participants.
The Japanese Yen is trading at 116.26 at present. USD/JPY has traded at a low of 116.12 while the high has traded at 117.52. The Yen is holding on to gains made earlier this morning as investors are looking to lower risk with their speculation. Japanese Current Account beat expectations to register 1.64 trillion Yen while Japanese Bank Lending was 2.3% beating the previous month. Japanese Average Cash Earnings was lower than expected with 0.1% recorded while Japanese Economy Watchers Sentiment was also lower than expected with 46.6 posted. This mixed economic data has encouraged support for the Yen today.
AUD/USD is trading at 0.7055 with the low trading at 0.7051 while the high traded at 0.7179.
USD/CAD is trading at 1.3956 with the low being 1.3840 and the high being 1.3978.
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.