The Euro is trading at 1.0752 at the moment.  The low has traded at 1.0717 while the high has traded at 1.0773.  The Euro remains in softer territory today after falling yesterday following lower than expected inflation numbers.  Following these numbers released yesterday, the Euro proceeded to trade at 1 month lows before retracing.  Today has seen a mixture of Services PMI numbers out of the region.  Spanish Services PMI was lower than expected registering 55.1 while Italian Services PMI was better than expected recording 55.3.  French Final Services PMI was lower than expected with 49.8 recorded while German Final Services PMI is better than expected with 56.0 registered.  European Final Services PMI was better than expected as well with 54.2 posted.  Additionally, European PPI met expectations with -0.2%.  This mixture of data has done little to cause the support for the US Dollar to wane.  However, with critical US data out later this morning, there is likely to be another directional movement which could see further strengthening of the Dollar if the data is seen as being supportive for the Dollar.  This data includes the latest US Trade Balance and US Services PMI numbers.

The British Pound is trading at 1.4650 at this writing.  Sterling has traded as low as 1.4619 while the high has traded at 1.4681.  Cable continues to see downside pressure as the US Dollar continues to gain support.  With economic headwinds in Europe causing investors to use the US Dollar as a flight-to-safety trade, the Dollar continues to slowly appreciate against its other major counterparts of which the Pound is included.  UK Services PMI was slightly lower than expected with 55.5 registered.  This data only caused the Pound to ease further towards the low of the day.  Also weighing on the other major currencies are geopolitical tensions that are coming out of the Middle East with the Saudi Arabia/Iran standoff and the Far East with North Korea conducting another nuclear test.  These issues cause a heightened sense of anxiety and uncertainty in the world and the softer appeal of the currencies reflect that.

The Japanese Yen is trading at 118.37 at present.  USD/JPY has traded as low as 118.25 while the high has traded at 119.16.  The Yen has continued to trade inside the recent range of 118.00 – 119.50 versus the Dollar.  With no significant Japanese economic data released today, USD/JPY has remained comfortably range bound as other majors have eased in the shadow of growing geopolitical issues that cause investors to limit their interests in riskier assets.  Concerns over China have helped the Yen obtain support as investors view the Yen as a safe haven somewhat.  This range driven trading in USD/JPY could persist further with no significant Japanese data due out tomorrow.  However, important US data today could cause directional interest depending on the numbers and whether they are positive for the US or not.
AUD/USD is trading at 0.7081 with the low trading at 0.7057 while the high has traded at 0.7171.
USD/CAD is trading at 1.4091 with the low being 1.3972 and the high being 1.4102.
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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.