Swedish krona is the worst performing G10 currency

Published on June 29, 2011 by admin · No Comments

Foreign Exchange Overnight/Morning Ranges:

Rate EUR/USD 1.4378-1.4417

Rate GBP/USD 1.5979-1.6014

Rate GBP/EUR 1.1117-1.1149

Retail data showed that retail sales slumped by 1.1 % for the month causing the Swedish krona to fall to a seven-month low against the euro. The poor figures cemented the krona’s position as the worst performing G10 currency over the last month just beating the sterling.

Today, the Greek government will attempt to pass the austerity package through parliament. The Euro has held onto its gains as markets assume that the package will be approved despite the unpopularity amongst the Greek population. Any rejection would see the Euro tumble and the threat of contagion in the Euro Zone would be a possibility.

Sterling trades lower against a basket of currencies as the UK GDP data confirmed that economic growth was stagnant for the first quarter, levels to watch € 1.1100 and $ 1.6000.

EUR/USD currently 1.4393. Support 1.4200, resistance 1.4500.

GBP/USD currently 1.6012. Support 1.6000, resistance 1.6300.

GBP/EUR currently 1.1124. Support 1.1100, resistance 1.1350.

Oil $ 92.96 Gold $ 1506

Dow +1.21% FTSE +0.79% Nikkei +1.54%