Canadian Consumer Price Index CPI
Worldwide Currency News
- Canadian Consumer Price Index Annual CPI is expected to drop to 2.8% from 3.1% last month. If the drop doesn’t materialise Canadian CAD could see healthy gains.
- Pound being referred to a safe haven currency as the stock markets are in tatters and gold is seeing massive gains, currently trading at highs of $1858 this morning.
Worldwide
- Dollar weakens due to recent figures not being good and risk aversion has been calmer this week
- Philadelphia Fed Manufacturing figures in the US dropped to 30.7, the lowest since March 2009 renewing concerns of a double dip recession.
- President Obama said US economy is still growing and doesn’t need exceptional measures but US existing home sales fall 3.5% in July causing more woes for the dollar.
- Concerns persist about the Eurozone debt crisis, the EURUSD drops back into the 1.42’s as investors struggle to decide which is the safer bet, euro or US dollar.
- US CPI rises sharply in July to 0.5% beating expectations of a 0.2% rise
- Japan’s finance minister Noda has said he is ready to make another “surprise” intervention to weaken yen strength. So the secret is out now, we wait for his intervention, I wonder if the markets will find it surprising.
IN THE UK
- UK retail sales disappoints by only growing 0.2% in July compared with the 0.3% forecasted- causing sterling to drop initially in early trading
- By mid afternoon sterling recovers losses to spend most of the day trading around the $1.6525 level
- Sterling breaks the €1.15 level as concerns persist about the Eurozone debt crisis
- Technical charts suggest the next level of topside resistance for sterling against the US dollar is around $1.6740, the late April high
- UK Public Sector Net Borrowing posts a figure of -£1.961bn, generally a deficit is beneficial to pound strength and this morning the pound has seen small gains against the US dollar.
| Current Spot Rates (9.30am) | |||||||||||
| USD | EUR | AUD | CAD | CHF | DKK | NOK | HKD | SEK | ZAR | JPY | |
| GBP | 1.6489 | 1.1535 | 1.5927 | 1.6314 | 1.3044 | 8.5917 | 9.0570 | 12.8640 | 10.64 | 11.90 | 125.990 |
| USD | 1.4294 | 0.9659 | 0.9894 | 0.7911 | 5.2106 | 5.4928 | 7.80 | 6.45 | 7.22 | 76.409 | |
| EUR | 0.6996 | 1.3808 | 1.4143 | 1.1308 | 7.4484 | 7.8518 | 11.15 | 9.22 | 10.32 | 109.224 | |
| Key Support and Resistance Levels | |||||||
| Support | Resistance | ||||||
| GBPUSD | 1.6309 | 1.6362 | 1.6439 | 1.6573 | 1.6630 | 1.6707 | |
| GBPEUR | 1.1349 | 1.1391 | 1.1457 | 1.1565 | 1.1607 | 1.1673 | |
| EURUSD | 1.4067 | 1.4168 | 1.4249 | 1.4431 | 1.4532 | 1.4613 | |
New Zealand show a decline to 0.6% in Retail Sales » « Government see increase in the number of unemployed young people
Bank Exchange Rates