The Pound Sterling (GBP) has fallen by small amounts against both the Euro (GBP/EUR) and the US Dollar (GBP/USD) today, mainly due to the US’s most recent economic data being supportive towards the US currency’s value.
US Employment Figures may be Good Tiding of Unemployment Rate Data Due on Friday
The day’s US economic publications so far have been the MBA Mortgage Applications up to January 1st, along with the ADP Employment Change for December. While the former result has fallen by -11.6%, the latter has been highly supportive by exceeding forecasts with a rise from 211k to 257k.
The Pound Sterling (GBP) has fallen by a minor amount against the Euro (GBP/EUR) today and by a greater -0.3% against the US Dollar (GBP/USD), following the uncertainty caused by this morning’s UK Retail Sales figures. Waitrose has fallen in sales during Christmas, the busiest time of the year, while those for John Lewis have conversely risen in a more positive manner.
UK House Price Results due Today, though either Outcome may not Aid Sterling
In addition to its more impactful December Composite and Services PMIs, the Pound Sterling (GBP) may be further moved by the Halifax House Prices for December and the three months to the end of the month as well. Scheduled for release at some point today, the results have respectively been forecast to remain at 9% in the latter case but rise from -0.2% to 0.5% in the former.
The Pound Sterling to Euro (GBP/EUR) exchange rate has improved since earlier by jumping up to 0.5%, while the Pound Sterling to US Dollar (GBP/USD) exchange rate has conversely worsened by sliding to -0.4%.
US Dollar (USD) Stays Steady after Supportive New York Printing is Announced
The US Dollar (USD) has largely risen across the board today, thanks to one of its only economic publications of the day improving on the prior figure. This has been the ISM New York result for December, which has risen from 60.7 to 62.
The Pound Sterling (GBP) has made an advance of 0.4% against the Euro (GBP/EUR) since earlier, although against the US Dollar (GBP/USD), the Pound has remained at a disadvantageous -0.2%.
Low-Key US Data to Come Today before PMI-Fest Tomorrow Morning
The US Dollar (USD) has the potential to cause further exchange rate movement in the trinity this afternoon when the ISM New York result for December is announced, though economists do not expect a large amount of movement to be made whatever the outcome. Further ahead, both the Pound Sterling (GBP) and the Euro (EUR) are sure to be affected by the large number of PMI releases due early tomorrow.
The Pound Sterling to Euro (GBP/EUR) exchange rate has risen by a small amount today, while the Pound Sterling to US Dollar (GBP/USD) exchange rate has conversely fallen by a similarly sized amount. With this in mind, major movement is still likely for all three currencies today.
GBP/EUR, GBP/USD Exchange Rate News: December UK Sales could be Edge of the Storm for Retailers
The Pound Sterling (GBP) has been making acceptable progress against a number of its economic rivals today, although this trend may not last for a sustained period. This is due to the implications of Next’s December sales figures, which have been described by the retailer itself as ‘disappointing’. With further sales results still to come, if other companies follow suit then the Pound can be expected to take a noticeable dive in its overall value.
The Pound Sterling has risen by 0.3% against the Euro (GBP/EUR) today and by greater amounts of 0.4% against the New Zealand Dollar (GBP/NZD) and 0.7% against the Hungarian Forint (GBP/HUF). However, losses of -0.2% against the US Dollar (GBP/USD) and -0.7% against the Japanese Yen (GBP/JPY) have also been recorded. This gain against the single currency can be considered a major improvement compared to yesterday’s lacklustre performance.
EUR, USD Exchange Rates Soft and Stable Respectively as Eurozone Dissatisfaction Abounds
The Euro (EUR) has softened considerably today, with losses being consistent across the board. The common currency’s downfall has been brought about mainly by today’s Eurozone CPI figures, which have failed to rise as predicted in December.
The Euro has declined by -0.2% against the Pound Sterling (EUR/GBP) and -0.5% against the US Dollar (EUR/USD) today, with a greater loss of -0.9% against the Japanese Yen (EUR/JPY) also being seen.
The US Dollar (USD) has fared relatively well so far, with gains being recorded against a majority of its major peers. This comes despite yesterday afternoon’s December ISM Manufacturing and November Construction Spending results, which both declined relative to previous totals.
The US Dollar (USD) has advanced by 0.2% against the Pound Sterling (USD/GBP) and 0.5% against the Euro (USD/EUR) today, with additional gains of 0.9% being witnessed against the Polish Zloty (USD/PLN) and the South African Rand (USD/ZAR).
GBP, EUR, USD Exchange Rate Forecast: UK Housing Data Out Tomorrow along with Glut of PMIs
The UK will be the next to publish economic data affecting the trinity in the near future, with tomorrow morning seeing the release of the Halifax House Prices, both for the three months to the end of December and for the month itself. At the time of writing, forecasts were for a repeat figure of 9% for the former field and a rise from -0.2% to 0.5% for the latter.
Looking further ahead, tomorrow morning will see the release of a spate of Eurozone December Composite and Services PMIs; for the most part, forecasts have been for either stagnation or rises in the results.
Later on, the UK Composite and Services PMIs for the same month will be released, although the only forecasts made so far have been for a decline in the Services score from 55.9 to 55.6 points.
The first US printing will arrive around midday, with the MBA Mortgage Applications figure covering the period up to January 1st.
Current GBP, EUR, USD Exchange Rates
The Pound Sterling to Euro (GBP/EUR) exchange rate was trending in the region of 1.3624, the Euro to Pound Sterling (EUR/GBP) exchange rate was trending in the region of 0.7341, the Pound Sterling to US Dollar (GBP/USD) exchange rate was trending in the region of 1.4680, the US Dollar to Pound Sterling (USD/GBP) exchange rate was trending in the region of 0.6812, the Euro to US Dollar (EUR/USD) exchange rate was trending in the region of 1.0778 and the US Dollar to Euro (USD/EUR) exchange rate was trending in the region of 0.9281 today.