The Pound is set to make a fourth week of gains against the US Dollar and is trading above the 1.20 mark against the Euro. Friday’s session saw mixed data released in both the UK and Eurozone and due to the closure of the US markets for Thanksgiving, trading was relatively muted. Mortgage and lending to individuals data both came in under target putting pressure on Sterling. The Australian Dollar made gains as data out of the Oceanic nation showed that private sector credit increased in October.
Currently the Pound is trading in the region of 1.2004 against the Euro and 1.6345 against the US Dollar.
The ‘Greenback’ is little changed against the Euro and most of its peers due to the closure of the US markets due to the Thanksgiving holiday season.
Currently the US Dollar is trading in the region of 0.6118 against the Pound and 0.7345 against the Euro.
The Euro was unable to take advantage of positive unemployment and inflation data as other data releases weighed on the currency. Retail sales in Germany and youth unemployment increased yet again to a new record high. The day’s data releases did little to inspire much confidence and as such the Euro was little moved in either direction against its peers.
Currently the Euro is trading in the region of 0.8326 against the Pound and 1.3614 against the US Dollar.
The ‘Aussie’ is on course to make a sixth weekly decline and is trading close to a two-and-a-half year low against the US Dollar and remains close to a three year low against the Pound. The currency received a further knock after the Australian Treasurer rejected a US company’s offer to takeover one of Australia’s biggest crop handling companies. As the session wore on the currency recovered some ground as investors favoured the higher yielding currency in a day of mixed data releases from elsewhere.
Currently the Australian Dollar is trading in the region of 0.5579 against the Pound, 0.6699 against the Euro and 0.9121 against the US Dollar.
The ‘Loonie’ briefly made gains against its peers after data showed that the currencies GDP growth rate was better than forecasted. The currency then fell to head for a second weekly loss against its US relation as investors look ahead to the Bank of Canada’s next policy meeting which is expected to show that the Bank will cut its monetary easing programme at a slower pace than the US Federal Reserve.
Currently the Canadian Dollar is trading in the region of 0.5779 against the Pound, 0.6940 against the Euro and 0.9450 against the US Dollar.