£ GBP/EUR – Pound Sterling
The Pound spent Tuesday’s session softer against the Euro after the currency was weighed upon by disappointing economic data releases and comments made by a Bank of England policy maker that the country’s economic recovery may not last. The number of loans approved for house purchases increased by 38228 last month, below economist expectations of a rise of 38950.
The Pound Sterling/Euro Exchange Rate is currently in the region of: 1.1846
€ EUR – Euro
The Euro has spent most of the session higher against its peers despite the release of weaker than expected German business climate data. The single currency managed to find support from comments by Spanish PM Marianjo Rajoy who said that he expects Spain to exit its two-year long recession by the end of the year. ECB policy makers have also played down market expectations that a new round of long-term loans will be implemented despite ECB President Mario Draghi saying that he’s ready to support the Eurozone’s banks.
The Euro/US Dollar Exchange Rate is currently in the region of: 1.3510
The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8444
$USD/EUR – US Dollar
The ‘Greenback’ was slightly higher against the Euro as concerns over the future direction of US monetary policy weighed upon investor confidence. The single currency hit its lowest level since September 18th in early trading before recovering.
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7401
$AUD/EUR – Australian Dollar
The ‘Aussie’ weakened against the majority of its peers after a decline in global stocks reduced demand for riskier higher yielding assets. The currency was also under pressure from economists calling for the currency to weaken further.
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6950
$NZD/EUR – New Zealand Dollar
The ‘Kiwi’ fell from its highest-level in almost five years against its Australian counterpart and weakened against the majority of its most traded peers as investors increased their bets that the Reserve Bank of New Zealand will choose to raise interest rates by April next year.
The New Zealand Dollar /Euro Exchange Rate is currently in the region of: 0.6141
$CAD/EUR – Canadian Dollar
The ‘Loonie’ has made gains against the majority of its most traded peers after retail sales in the country rebounded in July following the 0.8% decline recorded in June.
The Canadian Dollar /Euro Exchange Rate is currently in the region of: 0.7197