The Euro is trading at 1.1442 at present.  The low has been 1.1430 while the high has been 1.1486.  Earlier this morning, German Industrial Production registered 0.1% which was less than expected.  The French Trade Balance widened to reflect a deficit of 3.4 billion Euros while the French Government Budget Balance was -85.6 billion Euros.  Although these numbers are important to their respective countries, they are not the dominant factor today in terms of their impact to the currency market.  The uncertainty of the situation between Greece and the ECB keeps the markets shrouded with a veil that elicits maintaining a cautious view towards any possible outcome.  Focus now reverts to the upcoming unemployment data to be released out of the US later this morning.  This economic data is likely to provide the impetus for the directional movement of the major currencies for the remainder of this week.  Anticipation of what these numbers will be keeps the currency markets trading inside of existing ranges.

The British Pound is trading at 1.5348 at the moment.  Sterling is trading at 5 pips off of the high of the day at 1.5353 while the low has been 1.5308.  The UK Trade Balance data revealed the deficit widened to 10.2 billion Pounds.  Despite this negative data, the Pound remains poised nearer the upper end of the range today.   Should the US unemployment data be deemed positive, the US Dollar is likely to gain ground on its peers with Sterling probably breaching support around 1.5300.  Additional support around 1.5250 will also come under pressure in the event of good numbers.  The cautious tone of the market remains intact with concerns persisting over the outcome of the Greek debt resolution with the ECB.  Any negative perceptions resulting from the US data will see the US Dollar lose more ground.

The Japanese Yen is trading at 117.27 currently.  The USD/JPY has traded as low as 117.21 while the high has been 117.55.  The range has been extremely tight today with little incentive widen the range.  Japanese Leading Indicators registered 105.2% which was slightly less than expected.  This data has had little influence in seeing the currency break outside of the current range.  The US unemployment data out soon is probably the best chance the currency will have to widen the range.  Positive US data will likely see the US Dollar push higher with the Yen gaining if the data is deemed negative. 

AUD/USD is trading at 0.7859 with the low being 0.7793 while the high has been 0.7877.

USD/CAD is trading at 1.2434 with the low being 1.2427 while the high has been 1.2471.


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.