Good morning,

Overnight the JPY lost close to 0.75% against the AUD dollar and 0.6% against the Euro. This is very much consistent with the prior trends we have seen throughout February with CHF and JPY underperforming by some way as the requirement to trade risk slowly disappears. GBPJPY has gained 5.3% this month, whilst GBPCHF has appreciated 5.7%. Aussie strength has pushed the AUDUSD rate to 0.800 for the first time in three years. EURUSD is now trading at a six week high and AUDJPY is at levels not seen since February 2018. USDCAD has fallen below 1.25 for the first time in three years, so it’s safe to say the currency markets are extremely buoyant at the moment with plenty of risk and volatility.

Consumer confidence in Germany scored -12.9 versus -15.5 prior month, suggesting some optimism is building despite the current headlines surround the vaccine deployment.

US durable goods orders will be released at 13:30 today with analysts hoping for an increase to 1.1% versus 0.5% In December.

US GDP figures will be released at 13:30. The expectation is to see Q4 grow by 0.1% to 4.1%.

US jobless claims will also be released at 13:30 making it a heavy data day for the USD.

The price of oil continues to rally with another gain of 0.6% taking price to 63.70$.

If you’re currently unsure how to tackle these currency movements and would like to speak to one of our relationship managers, please do get in touch.

Have a great day.

Alistair Hutson, Senior Relationship Manager.

Whilst every effort is made to ensure the information published here is accurate, you should confirm the latest exchange rates with WorldFirst prior to making a decision. The information published is general in nature only and does not consider your personal objectives, financial situation or particular needs. Full disclaimer available here.