The Euro is trading at 1.1185 at this writing.  The low has traded at 1.1164 while the high has traded at 1.1214.  The US Dollar is holding steady versus the Euro ahead of US economic data and comments from a few officials of the Fed.  Last week the US Dollar continued to find support after Fed Chair Janet Yellen mentioned that US interest rates remained on course for a hike before the end of the year.  Supporting this view was the fact that the US economy grew at a faster rate than previously expected with 3.9% recorded for the second quarter.  Consumer spending was also revised up to 3.6% from 3.1% in August.  Today there will be the release of US Personal Income and Spending data which is one of the areas the Fed is looking for improvement.  Positive numbers here could encourage another rally for the Dollar versus its major peers.  This will be followed by more comments from Fed officials scheduled for later this afternoon.  This could set the tone for trading this week before culminating with updated US Employment data on Friday.  However, there is quite a lot of data that will be released out of all regions prior to the US Employment data so look forward to some interesting directional movement.

The British Pound is trading at 1.5200 presently.  Sterling has traded as low as 1.5160 while the high has been 1.5241.  There has been no major economic data released out of the UK today.  However, like the Euro, the Pound has traded near its recent low versus the US Dollar as comments by Fed Chair Yellen have helped the Dollar remain firm.  Earlier today, Cable strengthened to touch its high of the day before easing back to current levels.  This movement implies that upside potential may be somewhat capped without further impetus to encourage a break higher.  Recently, the US Dollar has returned to a more dominant profile with anticipation of a hike in US interest rates still apparently likely before the end of the year.  The Pound remains stable with growth continuing in the UK economy at a consistent pace which is exactly what the Bank of England is looking to maintain.  Look for UK data released this week to support that continued growth in the region.

The Japanese Yen is trading at 120.08 at the moment.  USD/JPY has traded as low as 119.99 while the high has traded at 120.59.  The US Dollar is trading near its low of the day versus the Japanese Yen at the moment.  The downside is expected to be limited with the Dollar still feeding off of Fed Chair Janet Yellen?s comments made last week that encouraged its strength.  With lots of important Japanese data out this week, USD/JPY could see some interesting directional movement.  However, the possibility of a US rate hike before year end will act as a backstop to limit the progress of the Yen.

AUD/USD is trading at 0.6990 with the low being 0.6984 and the high being 0.7036.

USD/CAD is trading at 1.3360 with the low trading at 1.3316 and the high trading at 1.3379.


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.