Investors Look Ahead To Tuesday’s Retail and Inflation Data
The Pound remains close to a one-year high against the Euro in a quiet news day. Sterling was little moved against the US Dollar. Investors are looking ahead to Tuesday’s retail and inflation data releases which many believe will show that retails sales rose in December and inflation quickened, if so then the Pound will likely push higher against its peers.
The US Dollar fell to a one-month low against the Japanese Yen following last week’s weaker-than-expected US jobs report. The data caused investors to reassess their expectations on the timing of further cuts to the Federal Reserve’s stimulus programme. There is little data due for release today so investors will be looking ahead to tomorrow’s US retail, business confidence and IPI reports.
The Euro remains close to a yearly low against the Pound after remaining under pressure following last week’s comments by European Central Bank President Mario Draghi who reiterated his pledge to maintain a loose monetary policy. Weak inflation data and disappointing unemployment figures also continue to weigh upon the single currency.
The ‘Aussie’ climbed to a one-month against the US Dollar and recovered ground against the Pound and Euro due to speculation that a data report due on Thursday will show that the number of new jobs created in Australia rose for a second consecutive month. The currency also found support from a home loans report which came in better-than-expected.
New Zealand Dollar
The New Zealand Dollar is on the rise against many of its peers as economists predict that the ‘Kiwi’ will reach parity with its Australian relation sometime this year. Whilst the Australian economy is weakening the New Zealand economy is thriving. The economy’s upward spiral is being attributed to high dairy prices, low interest rates and a construction boom in post-earthquake Christchurch.
The Canadian Dollar is weaker against the majority of its most traded peers following last week’s disappointing employment report. The data showed that the economy lost 46,000 jobs and unemployment climbed to 7.2%.
South African Rand
The South African Rand is weaker against the Pound and is trading close to a five-year low against the US Dollar as investors expect Tuesday’s mining production data to show a decline. Strikes in 2013 and ongoing disputes have affected output which in turn has weakened the nation’s economy and currency.
Disclaimer: This update is provided by TorFX, a leading foreign exchange broker, its content is authorised for reuse by affiliates.
Most Popular Content
- Dollar Remains Strong As Oil Prices Fall
- All Eyes On GDP Data as Pound Holds Support
- Outlook for the Pound and Dollar
- Pound Still in Downwards Trend Fuelled by Economic Outlook
- Dollar Gains Ground into Veterans Day
- Rebound in EURUSD Makes a Sharp Retrace
- Dollar at Highs as Pound Forms a Base
- Concerns Over Economy Sees Mixed Sentiment On Pound
Currency Articles - Dec 12, 2014 11:47 - 0 Comments
More In Currency Articles
Gold and Oil News - Oct 7, 2014 17:44 - 0 Comments
More In Gold and Oil News
- Gold Falls But Higher Prices May Be On The Horizon
- Gold Prices Spike Higher On Increased Israel Tension
Shares and Markets - May 1, 2014 10:50 - 0 Comments
More In Shares and Markets
- Glaxosmithkline Share Price Rebound Halts On Slower Sales
- Royal Mail Share Price Will Not Be Investigated