Pound (GBP) And Aussie (AUD) Begin the Week Stronger

Published: 12 Aug at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, Germany, Japan, South Africa,

Pound Sterling
GBP/EUR – Trading in the Region of 1.1626
Sterling put in a solid performance last week and could extend gains in the days ahead if UK data continues to trump expectations. Pound movement may be limited today due to a lack of influential domestic data, but tomorrow’s UK home price gauge is expected to trigger fluctuations.

US Dollar
USD/EUR – Trading in the Region of 0.7503
Disappointing growth data for Japan meant that the US Dollar was able to gain on its Asian counterpart overnight. The safe-haven ‘Greenback’ was also moderately stronger against the Euro but weaker against a bolstered Australian Dollar.

Euro
EUR/USD – Trading in the Region of 1.3310
Despite the expectation that this week’s German and Eurozone GDP data will show growth, the Euro began the European session slightly softer against the Pound and US Dollar. However, if the Eurozone data meets or exceeds expectations the Euro could climb.

Australian Dollar
AUD/USD – Trading in the Region of 0.9161
With unexpectedly strong Chinese data boosting Australia’s trade prospects and the Reserve Bank of Australia taking steps to support the domestic economy, the ‘Aussie’ was able to hit a two-week high against the safe-haven ‘Greenback’ overnight. The South Pacific asset also began the European session stronger against the Pound and Euro.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8008
During the Australasian session the New Zealand Dollar softened against peers including the Australian and US Dollars. As the week progresses the ‘Kiwi’ could dip against the Euro and Pound if the currencies are supported by positive developments in the UK and Eurozone.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9704
Lacklustre domestic employment data caused Canada’s currency to fluctuate towards the end of last week. Although the commodity-driven ‘Loonie’ was supported by Chinese news, home grown economic concerns continue to weigh on it.

Japanese Yen
USD/JPY – Trading in the Region of 96.8000
Although economists expected Japan’s economy to have expanded by 3.6 per cent in the second quarter year-on-year, the most recent figures have shown expansion of 2.6 per cent. The nation’s industrial production report also disappointed, and the Yen posted widespread declines as a result.

South African Rand
USD/ZAR – Trading in the Region of 9.7930
Last week commodity-driven and emerging market currencies like the Rand were supported by stronger-than-anticipated Chinese trade and production data. South Africa’s currency remains supported against peers including the US Dollar ahead of this week’s domestic retail sales figures.
As of Monday, 12th August 2013, the Pound Sterling currency rates mentioned within this news item were as follows:

GBP EUR exchange rate was 1.1626, GBP USD exchange rate was 1.5454, GBP AUD exchange rate was 1.6935, GBP NZD exchange rate was 1.9373, GBP CAD exchange rate was 1.5935, GBP CNY exchange rate was 9.4614, GBP JPY exchange rate was 150.1997, and GBP ZAR exchange rate was 15.2723.

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