The Euro is trading at 1.2448 at present. The low has been 1.2426 while the high has been 1.2479. The GDP data out of Europe this morning saw the US Dollar retrace a bit. However, in anticipation on what the US Retail Sales numbers will reveal, the US dollar is pushing towards making further gains. The morning data out of Europe encouraged the retracement. The French Preliminary GDP beat forecasts to post 0.3% while German Preliminary GDP met expectations with 0.1%.

 

European Flash GDP beat expectations to register 0.2%. In addition, The European Final CPI and Final Core CPI both met expectations with 0.4% and 0.7% respectively. Focus now reverts towards the coming US data points to be released later this morning.

 

The British Pound is trading at 1.5651 at this writing. Like the Euro, the UK Pound is again under pressure as the Greenback looks to consolidate further gains today.

 

UK Construction Output disappointed with 1.8% when expectations were for 3.7%. This data has only helped to soften Cable further after trading around the mid 1.5670?s. Anticipation of what the US Retails Sales numbers will be has increased the possibility of a soft Pound.

 

The Japanese Yen is trading at 116.45 at the moment. USD/JPY has had a low of 115.72 while the high has been 116.48. The US Dollar has returned to its bullish tone versus the Yen today. With no data points released in Japan today, players have eyed the US data to be released later this morning as the main driver of this current bullish appeal of the US Dollar. The US dollar remains poised to push towards the 117.00 level if the US data is favorable. Expect a move back to 116.00 if the data does not meet expectations.

 

AUD/USD is trading at 0.8693 with the low being 0.8676 while the high has been 0.8716.
USD/CAD is trading at 1.1363 with the low being 1.1356 while the high has been 1.1393.

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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.