The Euro is trading at 1.0985 at the moment.  The low has been 1.0965 while the high has been 1.1018.  The range has been very tight for the Euro today with quite a number of European countries still off observing the Easter Holiday.  Spanish Unemployment Change was the only significant economic data that was released out of the region today.  The figures released beat expectations registering -60.2K.  The Euro has not added to gains made on Friday after the disappointing US jobs data which led to another sound recovery made by the currency.  The Euro gains may not be over as many traders in Europe may have been off on this past Friday when the data was released.  Trading will return to normalcy tomorrow but the Euro remains poised to the upside.  The US will release a few key data points this morning which may help the US Dollar take back some losses if the numbers are favorable.  However, market capacity will still be well below normal which can possibly exaggerate any movement that is made

The British Pound is trading at 1.4943 which is just 3 pips lower than the high of the day until this point at 1.4946.  The low has been 1.4892.  Today the UK is observing the final day of the Easter holiday period.  This holiday period has limited the upside potential of the Pound as many traders are on holiday.  After the disappointing US jobs data that was released this past Friday, the Pound looked likely to make a nice recovery.  However, the Easter Holiday has stifled any further appreciation of the Pound up to this point with many players taking off on the Easter break.  Tomorrow will see a return to more normal markets with all centers back from the break.  There will be UK data released tomorrow as well which will ensure that the market has returned back to normal. 

The Japanese Yen is trading at 119.05 presently.  USD/JPY has traded as low as 118.80 while the high has been 119.17.  The parameters of this range were established during the Asian session.  There has not been much pressure to break out of the established range due to the thin market conditions that are out there now.  Looking ahead, this week Wednesday will see the BOJ release an update of the current Monetary Policy and view on interest rates they have for the near future.  Any change in the current QE plan will likely be mentioned then as well as any new updates of the current state of the Japanese economy.  I think that there have been signs of the beginnings of possible growth taking place in the Japanese economy.  The big question is whether or not it continues to make progress.

AUD/USD is trading at 0.7634 with the low being 0.7609 while the high has been 0.7649.

USD/CAD is trading at 1.2481 with the low being 1.2446 while the high has been 1.2495.


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.