The Euro is trading at 1.1096 at the moment.  The low has been 1.1062 while the high has traded at 1.1121.  The Euro is hovering near the middle of the range today as there has been little data released to support a more directional move.  The European Trade Balance revealed a surplus of 21.9 billion Euros beating expectations.  While this data lent support to the Euro, it has not been able to encourage the Euro to go even higher.  This seems to be the sentiment of the market as the trading week has begun.  Tomorrow will see even less European economic data released while the UK and US will have some important numbers coming out.  The UK will have critical inflation data being released while the US has Housing data coming out.  This information will be contributing factors in seeing the timing of a rate hike out of the 2 regions being made.  Investors are wary of a rate hike from the Fed as early as next month following their meeting.  Data continues to support positive consistent growth out of the US which is likely to give the Fed plenty to think about when considering a near term rate hike.

The British Pound is trading at 1.5627 at the moment.  Sterling has traded as low as 1.5619 while the high has traded at 1.5688.  The Dollar has firmed a bit versus the Pound today.  With no significant economic data released out of the UK today, the Dollar has been able to find support.  This is in consideration of a possible rate hike from the Fed as early as next month.  The market appears to be looking for directional impetus as the week has started in typically cautious fashion.  The US data will likely reveal the chances for this rate hike based on how positive the data is.  This was exhibited on this past Friday with US producer prices moving higher as well as US factory output increasing.  There will have to be continued improvements in the data for the Fed to make a move to hike rates.  However, the signs continue to point towards a lift off happening before the end of the year.

The Japanese Yen is trading at 124.52 at present.  USD/JPY low has traded at 124.22 while the high has traded at 124.57.  The US Dollar remains poised towards the upper end of the trading range as Japanese data released today did little to support the Yen.  Japanese Preliminary GDP was lower than expected with -0.4% registered while the Japanese Preliminary GDP Price Index was also lower than expected with 1.6%.  These data points allowed the Dollar to make moderate gains this morning as chances of a near term rate hike by the Fed came back into focus.  Investors are also likely to anticipate further easing measures to be taken by the Bank of Japan as it looks to set the Japanese economy on a path of consistent growth.

AUD/USD is trading at 0.7357 with the low being 0.7344 and the high being 0.7382.

USD/CAD is trading at 1.3130 with the low trading at 1.3088 while the high has traded at 1.3152.


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.