The Euro is trading at 1.1111 at the moment.  The low has been 1.1062 while the high has been 1.1152.  For a third day this week the US Dollar has firmed versus its peers.  Helping the advance of the Dollar has been favorable economic data released out of the US while on the other hand, weak economic data out of Europe has given legs to the recent US Dollar rally.  Economic data out of Europe has been really limited this morning.  However, German PPI met expectations registering 0.1%.  Following this news the Euro experienced downside pressure which saw it trade at the low of the day before retracing to trade above 1.1100.  Even now, pressure remains firmly on the downside although limited economic data out of the US today could be a factor in where Euro ends the day.  Looking ahead to tomorrow will see the release of a host of Manufacturing PMI and Services PMI numbers out of the region.  This data is likely to have a major say in where the Euro finally trades at the close of this week.

The British Pound is trading at 1.5520 at present.  Cable has traded as low as 1.5471 while the high has been 1.5558.  There has been no new economic data of note released out of the UK today.  However, there was the release of the last round of voting on the MPC Official Bank Rate as well as the MPC Asset Purchase Facility voting.  This voting actually remained the same as the most previous round before this.  Voting was 0-0-9 with all nine members voting to hold rates as they were.  This indicates that there is a consensus amongst the members to see growth conditions improve before the likely hood of any chance of a raise in rates.  The Pound eased lower with the US Dollar firming in the process.  The Dollar continued its rally following positive economic figures out of the US this week.  However, as noted above, there will be a breadth of Manufacturing and Services PMI data out tomorrow which will certainly dictate where the Dollar will finish trading this week.  The ride is far from over for this week.

The Japanese Yen is trading at 120.94 currently.  USD/JPY has traded as low as 120.58 while the high has been 121.10.  This has been the first breach of the 121.00 resistance level for quite some time and has happened despite reasonably sound Japanese GDP data being released today.  Japanese Preliminary GDP beat expectations posting 0.6% when 0.4% was anticipated.  However, Japanese Preliminary GDP Price Index was lower than expected registering 3.4% in the process.  The Dollar continues to remain poised to make another push towards the upper side of the range but this may be somewhat limited today with little economic data of significance out of the US to encourage such a move.

AUD/USD is trading at 0.7896 with the low being 0.7883 and the high being 0.7935.

USD/CAD is trading at 1.2210 with the low being 1.2208 while the high has been 1.2256.


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.