The Euro is trading at 1.1210 at the moment.  The low has been 1.1205 while the high has traded at 1.1348. European PMI figures that were released today showed continued growth taking place in Europe.  European Flash Manufacturing PMI and European Flash Services PMI both beat expectations registering 52.5 and 54.4 respectively.  Earlier this morning, both French Flash Manufacturing PMI and French Flash Services PMI beat expectations registering 50.5 and 54.1 respectively.  This data was imitated by the German figures which revealed both Flash Manufacturing PMI and Flash Services PMI also beat expectations with 51.9 and 54.2.  Italian Retail Sales registered 0.7% beating forecasts looking for 0.1%.  Despite this full sweep of positive European data, the Euro has eased versus the Dollar progressively with cautious optimism over the Greek debt situation weighing heavier on the currency up to this point in the day.  New reform proposals submitted recently are seen as a good place to restart stalled negotiations after European finance ministers could not reach an agreement on a bailout package at an emergency meeting held yesterday.  However, both German Chancellor Merkel and IMF chief Lagarde warned that there was still a lot of work ahead.  Greece is looking for a new bailout package ahead of month end when the current bailout package expires.  It must also make a repayment of 1.6 billion Euros to the IMF at month end.

The British Pound is trading at 1.5779 at present.  Cable has traded as low as 1.5763 while the high has been 1.5831.  Sterling has softened a bit more today as the US Dollar benefits from investors looking at it as a safe-haven while ongoing Greek debt negotiations are progressing.  After solid US existing home sales data on Monday, the US Dollar continued to make gains versus the major currencies.  Earlier, UK CBI Industrial Order Expectations registered -7 which was worse than expected.  This data encouraged the Pound to ease lower after trading above 1.5800.  Sterling remains poised towards the downside ahead of the release of US Durable Goods data due out later which will give further indication of the strength of the US economy.

The Japanese Yen is trading at 123.82 which is just 2 pips lower than the USD/JPY high of the day at 123.84.  The low has been 123.34.  The US Dollar has firmed versus the Yen as the day has progressed.  Assisting the Dollar was the release of the Japanese Flash Manufacturing PMI which recorded 49.9.  This data was lower than anticipated and gave support to the greenback which was already benefiting from flight to safety trading as a result of the Greek debt situation.  With US Durable Goods Orders to be released soon, investors can expect the Dollar to continue to push higher with any numbers that may meet or exceed expectations.

AUD/USD is trading at 0.7709 with the low being 0.7694 and the high being 0.7744.

USD/CAD is trading at 1.2340 with the low being 1.2309 and the high being 1.2348.


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.