The Euro is trading at 1.1168 at this writing. The low has traded at 1.1152 while the high has traded at 1.1173. The Euro has traded in a very tight range today with several European countries off today celebrating Easter Monday. As a result, there has been no significant European economic data released today. With important data to be released later this week, investors will be looking forward to increased volatility as the data hits the markets. The week will end with an update of the US jobs report which investors will scrutinize heavily. This information will likely help investors gauge when the next interest rate hike is likely to be made. The US jobs data has been one of the more encouraging indicators of the progress of the US economy with steady strong data being released. This information was highlighted by several Fed members who were hinting that the next increase in rates is likely to be enacted in the near future. Along with increases to interest rates, the US Dollar is likely to make gains as well as investors looking for higher yielding investments will view Dollar strength more favorably. There are still reasons to be cautious however as the economies of other countries may not be thriving as much as the US economy. Therefore, investors will have to remain vigilant.
The British Pound is trading at 1.4170 at the moment. Sterling has traded at a low of 1.4119 while the high has traded at 1.4179. Cable has realized a reasonable rally today despite very limited liquidity and market interest due to the Easter Monday holiday being observed in several countries. The UK is observing the holiday today. The rally in the Pound brings to a stop the recent slide the Pound experienced throughout last week. In the aftermath of the terrorists bombings in Brussels, Cable eased lower as security issues within the EU member nations was given a stern critical evaluation. This topic has highlighted the need for better communication on security issues and helped supporters looking for a “Brexit” in the June referendum to enhance their case for wanting to leave the EU. Sterling is likely to realize more downside pressure as we approach the referendum date.
The Japanese Yen is trading at 113.54 at present. USD/JPY has traded at a low of 113.12 while the high has traded at 113.69. The US Dollar has firmed a bit more versus the Yen in subdued trading conditions with Easter Monday being observed in Australia and New Zealand as well as several European industrial nations. There has been no significant Japanese economic data released today. Tomorrow, however, there will be 3 important numbers released out of Japan. Household Spending, Retail Sales and an updated Unemployment Rate will be the highlights that investors will be looking forward to. This data will indicate whether or not Japan is making any progress in its desire to see consistent economic growth.
AUD/USD is trading at 0.7531 with the low trading at 0.7493 while the high has traded at 0.7540.
USD/CAD is trading at 1.3249 with the low trading at 1.3228 while the high has traded at 1.3285.
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.