The Euro is trading at 1.1422 at present.  The low has been 1.1303 while the high has been 1.1456.  The Euro has firmed today as the ECB ended its role in funding support of the Greek financial sector.  This encouraged the Euro to move higher from below 1.1350 to establish the high of the day.  This action is seen as a “snub” towards Greek plans to renegotiate its debt.  This subject will be visited regularly in coming weeks and months and could have far reaching consequences for the entire Euro zone.  Earlier this morning, German Factory Orders surprisingly registered 4.2% which was well above expectations.  In addition, European Retail PMI recorded 46.6.  These data releases added support to the firming Euro this morning.  US Trade Balance and Employment data out later this morning will weigh into this picture.  But at this moment, the Euro remains poised to the upside with a good possibility of pushing higher.

The British Pound is trading at 1.5250 which is just 9 pips lower than the high of the day at 1.5259.  The low has been 1.5164 which traded during the Asian session.  The Bank of England has kept Rates unchanged and continues with the current Asset Purchase Facility of 375 billion Pounds.  The outcome of the BOE announcement was widely expected but the currency still has firmed a bit.  Earlier this morning, the UK Halifax HPI registered 2.0% beating expectations.  This economic data helped the pound gain a bit more ground versus the US Dollar.  Looking ahead, the US data out today could cap the push higher by Cable.  Positive figures out of the US will likely see the Pound soften as the Dollar seeks to gain.  Looking ahead to tomorrow, the UK will release Trade Balance data which is expected to reveal a widening deficit.  Any positive beating expectations will definitely see the pound rally some more.

The Japanese Yen is trading at 117.41 currently.  The USD/JPY low has been 117.02 while the high has been 117.45.  The range in USD/JPY today has been limited due to very little major economic data out of the region.  Both the lower and upper levels of the range were established during the Asian session and the Dollar has traded mixed throughout the range.  At this writing the US dollar looks to be making a push to the upside with any continued progress for the Dollar likely to coincide with favorable US economic data out late this morning.  Tomorrow Japan will release Leading Indicators data out of the region with expectations looking for an increase from the previous period.

AUD/USD is trading at 0.7807 with the low being 0.7733 and the high being 0.7821.

USD/CAD is trading at 1.2485 with the low being 1.2480 and the high being 1.2586


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.