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Euro Rate Today: Euro Gains vs Pound, Steady vs Aus Dollar but Falls vs US Dollar

October 1, 2014 - Written by John Cameron

Analysts forecast that the Pound Sterling (currency:GBP) will remain strong against the Australian Dollar (currency:AUD) and New Zealand Dollar (currency:NZD) while pro-democracy protests continue in Hong Kong.

Meanwhile, the euro (currency:EUR) remains at risk.

The latest EUR rates and conversions (3/10/2014):

The Euro to Australian Dollar exchange rate is trading down -0% at 1.44060 EUR/AUD.
The Euro to Canadian Dollar exchange rate is trading down -0.21% at 1.41071 EUR/CAD.
The Euro to Pound Sterling exchange rate is trading up +0.19% at 0.78557 EUR/GBP.
The Euro to New Zealand Dollar exchange rate is trading up +0.09% at 1.60687 EUR/NZD.
The Euro to US Dollar exchange rate is trading down -0.37% at 1.26220 EUR/USD.

Global share markets once again shipped support during this afternoon’s session as pro-democracy protests in Hong Kong continued.

Crowds taking part in the widespread demonstrations have swelled to mark China’s 65th National Day as calls for China to withdraw its plans to vet candidates for 2017’s Hong Kong leadership election increased.

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The scenes engendered a ‘risk-off’ trading environment in the global markets, sending London’s FTSE 100 index down by 0.98% on the session, while the Dow Jones index in New York was down by over a percentage point by the middle part of North American trading.

Pound to Aus and NZ Dollars Close to Recent Best Exchaneg Rate Levels

The flight to safety from investors ensured that the Pound to Australian Dollar and New Zealand Dollar exchange rates remained at close to the top end of their recent trading ranges throughout the day.

Losses for the Commodity Dollars would have surely have been of a greater magnitude on the day were it not for last night’s PMI survey which showed that activity levels in China’s manufacturing sector had increased by a greater than expected amount last month. However, the civil unrest in Hong Kong has injected a high degree of uncertainty in the minds of Asian market participants, leading analysts to forecast that there could be further losses to come for the GBP AUD and GBP NZD exchange rates.

Elsewhere, this afternoon’s ISM manufacturing survey in the US came in at well below analysts’ expectations. August’s counterpart figure showed at 59.0, so the 56.6 result increased concerns that the global economic recovery may be faltering. A near-term interest rate hike from the US Federal Reserve now appears out of the question and support for the Greenback eased on the day as a result, sending the Pound Sterling US Dollar exchange rate up to an intraday high of 1.6252 GBP USD.

The next risk event of note in the market comes tomorrow afternoon with the latest European Central Bank policy announcement. If the ECB reveals plans to buy-up individual nation state’s sovereign debt, then expect the Pound euro exchange rate to make a concerted run at the 1.3000 threshold.

Euro to Dollar Rate Today: EUR/USD Falls as ‘Buck’ Exchange Rate Strengthens



The Euro has been tumbling versus the US Dollar on Friday as the ‘Buck’ has recouped some lost ground against other majors.

The ‘Greenback’ strengthened following three consecutive days of losses as investor sentiment returned on the back of favourable US employment figures.

Both Initial Jobless Claims and Continuing Claims figures fell on Thursday, suggesting slack in the US labour market is tightening.

Friday morning has both French and Eurozone Composite and Services Purchasing Managers Indexes revised lower, a result that could place downward pressure on the Euro.
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