UK Monarch In The Spotlight, USD Falls, GBP, AUD, NZD And EUR Gain

Published: 23 Jul at 10 AM Tags: Euro, Dollar, Pound Sterling, America, UK, Eurozone, Australian Dollar, New Zealand Dollar, Canadian Dollar, Australia, New Zealand, USA, Canada, China, France, Germany, Greece, Ireland, Italy, Japan, South Africa, Portugal,

Pound Sterling
GBP/EUR – Trading in the Region of 1.1645
The world’s media may be focused on the birth of the future UK monarch, but there is other important domestic news scheduled for release this week. UK GDP figures, out on Thursday, are expected to show economic expansion of 0.6 per cent and the Pound remains supported against its most traded currency peers as a result.

US Dollar
USD/EUR – Trading in the Region of 0.7573
Disappointing US existing home sales data added to the case for the Federal Reserve maintaining its current level of asset purchases and caused the ‘Greenback’ to post widespread declines during the local session. Today’s US house price index may result in further US Dollar movement.

Euro (Currency of Germany, France, Spain, Italy, Portugal, Greece, Ireland etc)
EUR/USD – Trading in the Region of 1.3205
Overnight the Euro was able to push above 1.32 against a broadly softening US Dollar. The common currency was little changed against the Pound however as the British currency remains supported ahead of Thursday’s UK GDP report. Today’s consumer confidence index for the Eurozone could cause the Euro to fluctuate.

Australian Dollar
AUD/USD – Trading in the Region of 0.9210
As markets calm after the recent volatility, Australia’s Dollar has been able to advance on its rivals. The ‘Aussie’ strengthened against the US Dollar as gold prices rose to a four-week high, but movement was limited ahead of tomorrow’s influential Australian inflation figures and Chinese manufacturing data.

New Zealand Dollar
NZD/USD – Trading in the Region of 0.8003
Ahead of today’s trade balance figures for New Zealand, scheduled for release at 23:45 GMT, the ‘Kiwi’ extended its advance against the US Dollar. The South Pacific asset was supported as commodity prices climbed and a measure of New Zealand Dollar volatility slumped to its lowest level since May.

Canadian Dollar
CAD/USD – Trading in the Region of 0.9692
The ‘Loonie’ pushed to a one-month high against the US Dollar during North American trade as commodities rose and investors looked ahead to today’s retail sales figures for Canada. Economists have forecast that Canadian retail sales gained by 0.4 per cent, but a better-than-expected figure could allow the ‘Loonie’ to climb further.

Japanese Yen
USD/JPY – Trading in the Region of 99.4600
The results of Japan’s recent election, coupled with disappointing US data and tapering hints, allowed the Yen to consolidate gains against the US Dollar during the local session. The Asian asset has enjoyed its most significant advance against the ‘Greenback’ for almost two weeks, but today’s US house price data could cause further movement in the USD/JPY pairing.

South African Rand
ZAR/USD – Trading in the Region of 9.7900
As the local session opened the Rand was holding steady against a pressured US Dollar after rising along with fellow commodity driven currencies the ‘Aussie’ and ‘Kiwi’. South Africa’s currency is currently in line to record a third day of gains against the ‘Greenback’, but could be affected by today’s US and Eurozone news.
As of Tuesday, 23rd July 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 1.5373, GBP AUD exchange rate was 1.655, GBP NZD exchange rate was 1.9212, GBP CAD exchange rate was 1.5821, GBP CNY exchange rate was 9.4352, GBP JPY exchange rate was 152.9641, and GBP ZAR exchange rate was 14.881.

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