The Euro is trading at 1.1297 at the moment.  The low has traded at 1.1276 while the high has traded at 1.1364.  The Euro softened a bit more today as equity markets looked for gains after the US markets showed a robust rebound yesterday.  Chinese equity markets held a late rally earlier today which actually led to the US Dollar seeing steady gains versus its major peers.  New economic data out of Europe also helped encourage support for the Dollar.  German Import Prices registered -0.7% which is lower than expected.  However, M3 Money Supply was 5.3% which is better than expected while European Private Loans registered 0.9% which is also better than expected.  Despite this positive data, the Dollar actually seemed to benefit from the information with the Euro touching the low of the day.  The Euro remains poised towards the downside as the market looks ahead to important US economic data to be released today.  Among the releases will be US GDP data which is anticipated to show additional growth in the US economy.  However, after recent events in the financial markets, expectations for a September rate hike appear to be waning as investors believe the Fed will respond in a more cautious manner.

The British Pound is trading at 1.5478 at this writing.  Sterling has traded as low as 1.5456 while the high has traded at 1.5508.  Cable has eased a bit more today as the US Dollar receives more support in conjunction with the rally seen in the equity markets.  The New York Fed President William Dudley stated that chances for a September rate hike were ?less compelling? as global markets showed vulnerability with the recent turmoil.  The impact of slowdown in China has exposed the huge repercussions that can follow without a more cautious view.  UK Nationwide HPI was slightly lower than expected registering 0.3%.  This data also encouraged the Pound to ease lower while the US Dollar firmed alongside. UK financial markets are looking in good position to continue to follow through on gains seen yesterday as the recovery from several days of losses builds.  Tomorrow will see important UK financial data released with UK Second estimate GDP among those numbers.

The Japanese Yen is trading at 120.30 at present.  USD/JPY has traded as low as 119.79 while the high has traded at 120.55.  Bank of japan Governor Kuroda stated that Japan will continue to encourage growth by maintaining a price stability target of 2% through qualitative and quantitative monetary easing.  These measures will help to dispel the deflationary mindset that has taken hold in Japan.  These comments aided in softening the Yen with the US dollar reaping the benefit.  Looking forward, Japan is looking to ensure growth while more QE measures will be used to assist in making that happen.

AUD/USD is trading at 0.7151 with the low being 0.7098 and the high being 0.7170.

USD/CAD is trading at 1.3213 with the low trading at 1.3200 and the high trading at 1.3305.


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.