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Daily Currency news updated by the currency specialists Send Money Home

Pound Sterling currency news

The Pound is set to make a weekly gain against the US Dollar and Euro ahead of the release of a report which is expected to show that UK industrial production increased for a third consecutive month in November. Sterling found support yesterday after data showed that the UK’s trade deficit narrowed more than expected and as the Bank of England refrained from ruling out the possibility of raising interest rates.

US Dollar currency news

The US Dollar is set to make a weekly gain against a number of peers due to investors expecting today’s non-farm payrolls data will come in strongly. A positive report will increase speculation that the world’s largest economy is strong enough to weather cuts to the Federal Reserve’s stimulus programme.

The Euro currency news

The Euro is holding steady against the US Dollar and Pound as investors eagerly await the release of US nonfarm payrolls data. The currency was weighed upon by comments made by European Central Bank President Mario Draghi who reiterated that monetary policy will remain accommodative for as long as needed in order to assist the economic recovery in the Eurozone. The Euro could weaken if today’s GDP data comes in weaker than forecast.

Australian Dollar currency news

The ‘Aussie’ is set to make a weekly decline against a number of peers including the US Dollar and Pound as expectations are high that today’s US jobs data will come in strongly. The currency found support in the morning after data showed that imports to China, Australia’s biggest trading partner, rose whilst exports fell.

New Zealand Dollar currency news

The New Zealand Dollar is on course to make a weekly decline ahead of the release of the US jobs data. A positive figure will weaken commodity and emerging market currencies as it will raise expectations for the Federal Reserve to taper its monetary easing programme at a faster pace than previously expected.

Canadian Dollar currency news

The Canadian Dollar is at a four year low against a number of peers after Bank of Canada Governor Stephen Poloz hinted that a cut to interest rates could occur soon. Speculation is growing that a weakening Canadian economy will push the Central Bank into taking action. A string of weak data reports also weighed upon the ‘Loonie’.

South African Rand currency news

The South African Rand slumped to a new five-year low against the US Dollar yesterday and remains weaker against a majority of its most traded peers. As with the other currencies today the US jobs data is dominating the markets. A positive figure is likely to weaken the Rand further.

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