The Euro is trading at 1.0615 at the moment.  The low has been 1.0550 while the high has been 1.6022.  The Euro has advanced this morning after sound economic data out of the region was released earlier.  European Final CPI met expectations registering -0.3% while European Final Core CPI was slightly better than expected registering 0.7%.  German ZEW Economic Sentiment was lower than expected with 54.8 but this number is still the highest it has been for 13 months.  This number is also 1.8 above the previous monthly release.  European ZEW Economic Sentiment registered a surprising 62.4 which is above expectations by 4.2.  Lastly, European Employment Change met expectations posting 0.1%.  The Euro had rallied just after the European session began but softened inside of the range shortly after.  The economic Data has helped the Euro make another push towards the daily high and it remains poised towards the upside as a result of this favorable data.

The British Pound is trading at 1.4759 at present.  Sterling has traded as low as 1.4755 while the high has been 1.4845.  The US Dollar has strengthened versus the Pound this morning in Europe.  During the Asian session, the Pound held on to the gains it made yesterday.  This type of volatility can be attributed to the uncertainty that exists in the currency markets at the moment.  With the Fed making an announcement on rates tomorrow, players remain skeptical whether the Fed will give any inclination to raise rates sooner than anticipated.  No significant economic data has been released out of the UK today but there will be quite a bit of data that will be released tomorrow.  UK employment data will be released then as well as the voting of the Monetary Policy Committee at the last meeting.  This information will likely highlight the focus of the BOE on maintaining growth in the UK.

The Japanese Yen trading at 121.22 which is 1 pip off of the low of the day.  The high has been 121.52.  The USD/JPY remains range bound with no change in rates after the BOJ announcement earlier in the Asian session.  The BOJ will continue with its stimulus program as well but it has lowered its inflation expectations.  Despite this information, the US Dollar still seems under a bit of pressure as we approach the Fed meeting and following announcement on rates.  The Dollar is softening as I write this which reflects this sentiment.

AUD/USD is trading at 0.7652 with the low being 0.7611 while the high has been 0.7665.

USD/CAD is trading at 1.2781 with the low being 1.2751 while the high has been 1.2794.


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.