The Euro is trading at 1.2263 at present which is 11 pips above the low of 1.2252 today.  The high has been 1.2298.  The trading range has been quite narrow today as the Euro lacks impetus to move higher right now.  Economic data out of Europe this morning has not encouraged the Euro to push towards the upside.  The Gfk German Consumer Climate number was marginally better than expected in registering 9.0.  Meanwhile, German PPI was also better than expected with 0.0% – flat ? posted.  European Current Account posted 20.5 billion Euros which is lower than expected.  As a result of this info, the Euro carries a softer tone this morning.  Holiday trading mode seems to be creeping into the trading picture as volumes are expected to continually reflect the softening interest.  There is no economic data releases scheduled for today out of the US.

The British Pound is trading at 1.5622 at present.  The Cable low has been 1.5616 while the high has been 1.5682.  The UK Pound, like the Euro, carries a softer tone in trading thus far today.  Earlier, UK Public Sector Borrowing registered a better than expected 13.4 billion Pounds while UK CBI Realized Sales also posted 61 which is also better than expected.  Despite these favorable economic releases, the UK Pound has softened.  The US Dollar continues to hold a strengthening tone as we close out the week.  In addition, trading volumes are dropping off as we get closer to the holiday so I expect liquidity to be lessening as well.  Also of note is the fact that there will be no economic data announcements out of the US today to influence the markets.

The Japanese Yen is trading at 119.26.  USD/JPY has traded at a low of 118.81 while the high has been 119.50.  Data out of Japan earlier has not altered the strength of the US Dollar today.  Japanese All Industries Activity registered -0.1% which was below expectations.  There were also statements on Monetary Policy and a Press Conference by the BOJ.  The US Dollar still holds a bullish tone versus the Yen and the area of the high – 119.50 – remains a level of short-term resistance for USD/JPY today.

AUD/USD is trading at 0.8173 with the low being 0.8148 and the high being 0.8192.

USD/CAD is trading at 1.1600 with the low being 1.1566 and the high being 1.1633.


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.