Euro Exchange Rate News

Euro Exchange Rate Daily Round-up: 2/10/13

£ GBP/EUR – Pound Sterling

The Pound enjoyed another day of gains against its major peers after data showed that construction in the UK expanded for a fifth consecutive month in September. Against the US Dollar, Sterling reached its highest level since January. Against the Euro the Pound softened after tension in Italy eased and as Mario Draghi refrained from further introducing stimulus measures. The European Central Bank also chose to maintain interest rates at the record low level of 0.5%.

The Pound Sterling/Euro Exchange Rate is currently in the region of: 1.1943

€ EUR – Euro

The Euro strengthened to its strongest level in two weeks against the US Dollar, rising to an eight month high as ECB President Mario Draghi said that no new stimulus measures are needed but that he was ready to take any action necessary to help support the Eurozone recovery. Also boosting the Euro was the easing of tensions in Italy after Italian Prime Minister Enrico Letta won a vote of confidence.

The Euro/US Dollar Exchange Rate is currently in the region of: 1.3592

The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8375

$USD/EUR – US Dollar

The ‘Greenback’ tumbled against the Euro as concerns over the closure of the US federal government dented Dollar sentiment and as positive news out of the UK and Europe boosted those regions respective currencies. Also weighing on the Dollar was the latest ADP employment change data. According to the ADP Research Institute the US jobs market is struggling to pick up momentum as companies added fewer workers than expected in September. The data showed that employment increased by 166,000, which was below the 180,000 expected by economists.

The US Dollar/Euro Exchange Rate is currently in the region of: 0.7403

$AUD/EUR – Australian Dollar

The ‘Aussie’ fell against most of its peers after data showed that Australia had a bigger-than-expected trade deficit in August and building approvals increased less-than-forecast. The currency also remains vulnerable to a slowdown in China.

The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6890

$NZD/EUR – New Zealand Dollar

The ‘Kiwi’ extended its slide as the US government shutdown and looming debt ceiling deadline sapped investors risk appetite. Politicians in the USA have to agree by mid-October to raise the country’s $16.7 trillion debt ceiling or risk an historic US default. Ongoing political concerns in Italy are also muting demand for riskier assets.

The New Zealand Dollar /Euro Exchange Rate is currently in the region of: 0.6079

$CAD/EUR – Canadian Dollar

The Canadian Dollar fell for another day as the US government shutdown continues to weigh upon sentiment and demand for riskier assets.

The Canadian Dollar /Euro Exchange Rate is currently in the region of: 0.7118

Exit mobile version