The Euro is trading at 1.0953 at the moment.  The low has been 1.0900 while the high has been 1.0974.  The Euro is holding on to recent gains as it continues to trade above 1.0900.  Earlier this morning, German Ifo Business Climate registered 107.9 beating expectations.  This positive data has helped the Euro to be well supported.  The US Dollar still remains pressured after recent adjustments in the Fed guidance that indicated the Fed could raise interest rates in the future as necessary.  The Euro reflects this sentiment as it remains poised towards the upside of the range today with markets looking ahead to Durable Goods data that will be released in the US today.  In addition, Europe is showing great initial signs of returning to consistent growth following recent positive economic data releases.  The Greek situation has abated somewhat now that a resolution appears to be very close to being accepted.  The Fed is where attention is being directed as traders are trying to gauge when they might act to raise interest rates in the US.

The British Pound is trading at 1.4877 at present.  Sterling has seen a low of 1.4830 while the high has been 1.4896.  A return to more range bound trading has been the order of the day.  Cable is poised to the upside following the release of UK BBA Mortgage Approvals which registered 37.3K beating expectations.  This information was positive for the pound helping it to hold on to some of its recent gains and position it towards the upside.  The UK has seen a variety of mixed data out of the region recently so this positive data has obviously encouraged the pound.  With a mantra of maintaining consistent growth in the region, the data released this morning is another rung in the ladder.  Looking ahead to the data that is to be released tomorrow, we shall see if the Retail Sales data continues to help buoy the Pound.  Improving UK data in conjunction with a highly likely Fed increase in interest rates at some point this year could ensure that the UK economy continues to meet its objectives in the near term.

The Japanese Yen is trading at 119.54 currently.  USD/JPY has traded at a low of 119.51 while the high has been 119.83.  Japanese SPPI was released during the Asian session registering 3.3% which was exactly as expected.  This anticipated number has done little to drive the currency directionally and explains the tight range in USD/JPY today.  Looking ahead, Friday offers a wide range of data out of Japan including Household Spending, CPI, the Unemployment Rate and Retail sales.  This data will be able to give us more information on the impact of the QE program Japan has put into play.  Recent signs of improvement in the Japanese economy have been attributed to this program and the BOJ is hoping for continually improving data.

AUD/USD is trading at 0.7877 with the low being 0.7851 while the high has been 0.7891.

USD/CAD is trading at 1.2506 with the low being 1.2479 while the high has been 1.2518.


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.