The Euro is trading at 1.1170 at this writing. The low has traded at 1.1153 while the high has been 1.1228. The Euro remains under pressure as the Greek debt saga enters one more day closer to expiring without a new agreement in place. Talks were held until late Wednesday night between Greek Prime Minister Tsipras, the ECB, the European Commission and the IMF. However, no agreement has been reached yet. Talks are expected to resume in Brussels on Thursday morning prior to a Eurogroup meeting of euro zone finance ministers that is to be held later. On Wednesday, the German finance minister issued a statement reminding everyone that there was much work to be done to reach an agreement despite the ongoing talks. Greece must repay 1.6 billion Euros to the IMF by month end or face being in default which could see the country exit from the euro zone. Earlier today, German Gfk Consumer Climate met expectations registering 10.1 which is slightly lower than the previous month. This data has not had much of an effect on the currency which is being dominated by the Greek debt situation.
The British Pound is trading at 1.5704 at the moment. Sterling has traded as low as 1.5676 while the high has been 1.5725. UK CBI Realized Sales was lower than expected registering 29 and well below the number for the previous month. This data has done little to influence Cable with the Greek debt situation easily the topic of focus by the markets. While the situation remains unresolved as talks continue, the Pound continues to feel pressure as investors opt for the greenback which is seen as a safer bet in the short term. In addition, there has been little UK data to drive the Pound directionally with the information released earlier this morning being the last piece of significant UK data that is scheduled for release this week. This helps media focus to stay dialed in on the Greek debt situation and the new developments as they are revealed.
The Japanese Yen is trading at 123.66 at present. USD/JPY has traded as low as 123.31 while the high has been 123.96. There has been no significant economic data released out of Japan today. However, there will be a variety of important numbers out tomorrow such as the current Japanese Unemployment Rate and the Household Spending. Recently it has appeared as if Japan is making small strides towards a more improved growth scenario in the country. QE measures that were undertaken have helped the economy see some early green shoots of progress. However, continued growth must be nurtured and the current QE program has a role to play in making that happen. The currency continues to reflect the vulnerability of the economy which enables the US Dollar to remain firm against the Yen. The unresolved Greek debt situation only helps the Dollar to remain well supported against the other major currencies.
AUD/USD is trading at 0.7738 with the low trading at 0.7696 while the high has been 0.7749.
USD/CAD is trading at 1.2379 with the low being 1.2370 and the high being 1.2399.
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.