- We expect a range today in the AUD/USD rate of 0.9220 to 0.9310
:: Great Britain Pound: Pound Sterling opens marginally higher on Monday at 1.6050 after U.S. non-farm payrolls disappointed the market and pushed the greenback lower against several major currencies. Also supporting the pound on the day was a third-straight weekly advance in U.K. equities. Over the last 24 hours of trading, the pound moved between a low of 1.5914 up to 1.6110. Meanwhile, the pound continues to be outperformed by both the Australian Dollar (1.7300) and the New Zealand Dollar (2.1740).
- We expect a range today in the GBP/AUD rate of 1.7250 to 1.7420
:: New Zealand Dollar: The New Zealand Dollar opens higher on Monday at US73.70 cents. The unit spent most of Friday''s local session consolidating around the US73 cent mark ahead of key U.S. payrolls data. The kiwi rallied sharply to an overnight high of 0.7378 after the data revealed the U.S. economy shed 85,000 positions in December, disappointing market participants and sparking a sell-off in the greenback against several major currencies. Meanwhile, the kiwi trades near two-year highs against the Euro at 0.5105.
- We expect a range today in the NZD/USD rate of 0.7340 to 0.7420
:: Majors: The Euro opens the new week higher at 1.4430 despite Euro zone unemployment unexpectedly increasing to 10 per cent in November - the highest jobless rate since September 1998. The 16-nation currency rallied late on Friday after data in the United States revealed the loss of 85,000 positions in December which caused the greenback to take a tumble against several major currencies. On Friday, the Euro traded between a low of 1.4262 and a high of 1.4438. Further gains on the Euro are likely to be capped near-term as doubts remain over consumer confidence and employment. Meanwhile, the Japanese Yen (92.40) rallied from a four-month low against the greenback?after?the Japanese Prime Minister commented on Friday?that rapid moves in currency markets were not good.?
:: Data Releases:
- AUD: No data today
- CAD: Housing Starts, Dec; Building Permits, Nov
- EUR: No data today
- GBP: No data today
- JPY: No data today
- NZD: No data today
- USD: No data today