Euro Exchange Rate News

Today’s Euro currency roundup – Pound to Euro, US Dollar to Euro & Australian Dollar to Euro – 10/1/14

European Flags

Pound Sterling GBP/EUR

The Pound retreated against the Euro on Friday after data showed that UK manufacturing and industrial production stagnated in November, casting doubt on the strength of the UK’s economic recovery. The Pound took a further knock after NIESR released a GDP estimate that was lower than expected. The Euro on the other hand received support from a positive industrial production from France. Sterling erased its losses against the US Dollar following the release of disappointing nonfarm payrolls data.

Currently the Pound is trading in the region of 1.2053 against the Euro and 1.6476 against the US Dollar.

US Dollar USD/EUR

The ‘Greenback’ slid close to a one-week low against the Euro after downbeat employment data weighed heavily upon the Dollar. Payrolls in the world’s largest economy grew by just 74,000 in December, well below expectations for a rise of 197,000. The data cast doubt over whether the Federal Reserve will continue to taper its monetary easing programme at next month’s policy meeting.

Currently the US Dollar is trading in the region of 0.6069 against the Pound and 0.7316 against the Euro.

The Euro

The Euro is trading close to a one-week high against the US Dollar and regained ground against the Pound after data out of the US and UK weighed upon their respective currencies. The single currency found some support after data showed that industrial output in France and Spain was better than expected, suggesting that the Eurozone recovery is having some positive effects.

Currently the Euro is trading in the region of 0.8294 against the Pound and 1.3666 against the US Dollar.

Australian Dollar AUD/EUR

The ‘Aussie’ managed to make gains against several peers on Friday after the currency found support from import data from China and the unexpectedly poor US nonfarm payrolls data. As speculation increased that the Federal Reserve will refrain from making further cuts to its QE programme the ‘Aussie’ and other commodity and emerging market currencies benefited.

Currently the Australian Dollar is trading in the region of 0.5444 against the Pound, 0.6564 against the Euro and 0.8971 against the US Dollar.

Canadian Dollar CAD/EUR

The Canadian Dollar went into freefall against the Euro and other peers after data showed that unemployment increased after the number of Canadians in full-time work fell to its lowest level since 2011. Canada’s currency sank versus all of its 16 major peers. It has lost 2.6% this week, the biggest decline in six months.

Currently the Canadian Dollar is trading in the region of 0.5559 against the Pound, 0.6702 against the Euro and 0.9160 against the US Dollar.

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