The Euro is trading at 1.0816 at the moment.  The low has traded at 1.0799 while the high has traded at 1.0887.  The US Dollar has taken back some of the ground it lost last week Thursday as strength of the US economy was confirmed in the strong jobs report that came out on Friday.  US Non-Farm Payrolls were 211,000 for November which was better than expectations.  Additionally, there were upward revisions for already impressive jobs numbers for the month of October.  This data has helped convince investors that the Fed will likely raise interest rates at the next FOMC meeting later this month.  This morning, German Industrial Production was worse than expected registering 0.2%.  European Sentix Investor Confidence was also lower than expected recording 15.7.  This information has helped the Euro to soften more as downside pressure still exists despite the large rally it experienced following the ECB announcement last Thursday.  Looking ahead, there will be quite a few bits of important European economic data out later this week.  This data will ensure that there will continue to be some interesting twists and turns in the markets this week.

The British Pound is trading at 1.5074 at this writing.  Cable has traded as low as 1.5053 while the high has traded at 1.5114.  Sterling has softened a bit today as the trading week has gotten underway.  There has been no significant UK economic data released today.  However, looking ahead, there will be an announcement on UK interest rates by the Bank of England on this coming Thursday.  In addition, there will also be information on the last voting given by the Monetary Policy Committee at the last meeting.  With the BoE already having stated that they will be keeping interest rates low for a sustained period of time, investors will be looking for further confirmation of this policy initiative and any further updates of information to define its current focus.  Low interest rates are designed to give the UK economy a firmer footing as continued growth is the overall objective.  All upcoming data will be analyzed to trace the progress of the UK economy as proof of these measures will be demonstrated through the economic numbers. 

The Japanese Yen is trading at 123.36 at present.  USD/JPY has traded as low as 123.15 while the high has traded at 123.48.  USD/JPY continues to hold a range bound status today with the Dollar currently poised towards the upside.  Japanese Leading Indicators met expectations with 102.9%.  Looking ahead, there will be updated Japanese GDP data released tomorrow while bits of other interesting Japanese economic data will be released throughout the week.  The Dollar is anticipated to remain strong versus the Yen in the near term with the Fed expected to raise interest rates in the US at the next FOMC meeting later this month.  Such an action will enhance the strength of the dollar versus all of the major currencies.  The Japanese economy through the actions of the BOJ will be striving for continued growth in the region

AUD/USD is trading at 0.7300 with the low trading at 0.7295 while the high has traded at 0.7343.

USD/CAD is trading at 1.3436 with the low being 1.3365 and the high being 1.3439.

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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.