The Euro is trading at 1.2333 at present.  The low has been 1.2322 while the high has been 1.2390.  The Euro has softened versus the US Dollar today since late morning during the Asian Session when the currency was trading around 1.2380.  As the European session began the Euro then continued to slide as economic data from the region was released.  The Spanish Services PMI registered 52.7 which was lower than expectations.  The Italian Services PMI beat expectations to register 51.8.  European Final Services PMI was out next and registered 51.1 which was slightly lower than expected.  The European Retail Sales number also revealed lower number than expected and registered a gain of 0.4%.  This data seemed to validate the selloff and helped the Euro touch its low of the day versus the US Dollar.  At this writing, pressure remains to the downside for the currency with US economic data likely to enter the mix later this morning.

The British Pound is trading at 1.5660 at the moment.  Cable has traded at a low of 1.5618 while the high has been 1.5671.  The low was touched prior to the release of the UK Services PMI which beat expectations to register 58.6.  This number encouraged a rally in Cable from the mid 20 level to about the 1.5645 level.  Some small consolidation seemed to take place here before the currency made another move towards the upside to hold at current levels.  It will be interesting to see what will be mentioned in the Bank of England statement that will follow tomorrow’s announcement on rates.  The UK economy continues to grow although it is not happening at the pace it was going just before summer.

The Japanese Yen is trading at 119.42 which is 5 pips lower than the USD/JPY high at 119.47.  The low has been 119.12.  The US Dollar has gained this morning following the European economic data releases.  This has weighed in on USD/JPY via the EUR/JPY cross.  Overall, the US dollar bullish tone has led the way once again in seeing both the Euro and the Yen give up ground to the Greenback.  No significant economic data was released in Japan today so any movement in the Yen is surely coming from outside of the region.  Friday will be the next time Japan makes a scheduled economic release. Meanwhile, the US Dollar continues in the bullish trend it has had for some time now.

AUD/USD is trading at 0.8419 with the low being 0.8388 while the high has been 0.8467.

USD/CAD is trading at 1.1382 with the low being 1.1372 while the high has been 1.1412.

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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.