{"id":2848,"date":"2013-05-17T14:47:58","date_gmt":"2013-05-17T14:47:58","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=2848"},"modified":"2013-05-17T14:47:58","modified_gmt":"2013-05-17T14:47:58","slug":"gbp-advances-against-peers-on-optimistic-outlook","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/gbp-advances-against-peers-on-optimistic-outlook\/","title":{"rendered":"GBP advances against peers on optimistic outlook"},"content":{"rendered":"<p><a href=\"https:\/\/plus.google.com\/111687047260609547765\/posts\"><b>Sinduja Venkat<\/b><\/p>\n<p><\/a><\/p>\n<p>Good morning and welcome to today\u2019s foreign exchange market commentary on 17th of May.<b>\u00a0<\/b><\/p>\n<p><b>Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights:<\/b><\/p>\n<ul>\n<li>GBP advances on carryover effect from inflation report<\/li>\n<li>Asmussen cautions Germany on sluggish growth indicators<\/li>\n<li>USD volatile following Fed\u2019s indications on QE<\/li>\n<li>Japan firmly on path of progress<\/li>\n<li>NZD stumbles as growth expectations lowered<\/li>\n<\/ul>\n<p><b>\u00a0<\/b><\/p>\n<p><b>CURRENCY RATES OVERVIEW\u00a0 <\/b><\/p>\n<p><b>GBP\/EURO \u2013 <\/b>1.1841<br \/>\n<b>GBP\/USD \u2013 <\/b>1.5242<br \/>\n<b>GBP\/CHF \u2013 <\/b>1.4734<br \/>\n<b>GBP\/CAD \u2013 <\/b>1.5641<br \/>\n<b>GBP\/AUD \u2013 <\/b>1.5639<br \/>\n<b>GBP\/ZAR \u2013 <\/b>14.2895<br \/>\n<b>GBP\/JPY \u2013 <\/b>156.2626<br \/>\n<b>GBP\/HKD \u2013 <\/b>11.8334<br \/>\n<b>GBP\/NZD \u2013 <\/b>1.8647<br \/>\n<b>GBP\/SEK \u2013 <\/b>11.8334<\/p>\n<p><i>\u00a0<\/i><\/p>\n<p><i>Mid-market rates as of 2013-05-17 12:06 UTC<\/i><\/p>\n<p><b>Making an international payment? Compare money transfer deals and save 3-5 % on your currency. <\/b>Making an\u00a0<a href=\"http:\/\/www.mycurrencytransfer.com\/\">international money transfer<\/a>? Compare money transfer deals and save 3-5 % on your currency exchange with better-than-bank exchange rates.<\/p>\n<p><b>\u00a0<\/b><\/p>\n<p><b>Key releases in the next 24 hours that may affect currency date:<\/b><\/p>\n<p><b>\u00a0<\/b><\/p>\n<p><b>Australia:\u00a0<\/b>No Data<br \/>\n<b>Europe:\u00a0<\/b>EUR ECB Announces 3-Year LTRO Repayment (Euros)<br \/>\n<b>United Kingdom:\u00a0 <\/b>No Data<br \/>\n<b>New Zealand:\u00a0<\/b>No Data<br \/>\n<b>United States of America:\u00a0<\/b>USD U. of Michigan Confidence (MAY P), USD Leading Indicators (APR)<br \/>\n<b>China: <\/b>No Data<br \/>\n<b>Canada: <\/b>CAD Bank Canada Consumer Price Index Core (YoY) (APR), CAD Consumer Price Index (YoY) (APR), CAD Bank Canada Consumer Price Index Core (MoM) (APR), CAD Consumer Price Index (MoM) (APR)<br \/>\n<b>Japan: <\/b>No Data<\/p>\n<p>&nbsp;<\/p>\n<p><b>GBP advances on carryover effect from inflation report<\/b><\/p>\n<p>&nbsp;<\/p>\n<p>With no important data releases coming out over the last two days of this week the GBP hasn\u2019t felt pressure to move as yet. However buoyed by yesterday\u2019s positive inflation outlook from BoE and a drop in the jobless claims figure there has been a carryover upward effect felt in today\u2019s sterling movements. GBP appreciated against the Swiss Franc to the tune of 0.25 % currency and climbed up by 1.26 % against the NZD. Yesterday economic indications from the UK appeared strong and expectations of a QE programme also cooled off. \u00a0Jobless claims fell for the sixth consecutive month and this has helped improve the GDP figure for Q1 released in April.<\/p>\n<p>&nbsp;<\/p>\n<p><b>Asmussen cautions Germany on sluggish growth indicators<\/b><\/p>\n<p><b>\u00a0<\/b><\/p>\n<p>ECB Executive Board member Joerg Asmussen indicated on Friday that the German economy is strong but its government needs to implement reforms in order to stimulate growth in its second quarter. According to data released earlier Germany narrowly escaped a recession with GDP growth in Q1 increasing by 0.1%.<\/p>\n<p>&nbsp;<\/p>\n<p>He also cautioned that some EU nations are currently facing a sea of changes that could run to take a decade to have effects and stated that the ECB would be as accommodating with its monetary policy for as long as is required by it. However he noted that the consequences of maintaining low interest rates meant misallocation of resources over time.<\/p>\n<p>&nbsp;<\/p>\n<p><b>USD volatile following Fed\u2019s indications on QE <\/b><\/p>\n<p>&nbsp;<\/p>\n<p>USD had a volatile run during yesterday\u2019s trading session following a week where it portrayed a steady bullish trend. This was due to San Francisco\u2019s regional Fed Chairman Williams comments earlier on indicating that the Fed\u2019s plans to roll up its quantitative easing programme will begin as early as this summer with a view to doing away with the policy completely by the end of 2013. To add to this a raft of disappointing economic data was released yesterday indicating that housing starts tumbled by 16.5 %. Jobless claims also rose sharply by 32,000 to 360,000 in the week ending on May 11, exceeding expected levels markedly. CPI decreased by 0.4 % (0.3 % expected) after decreasing by 0.2 % in March, making it the biggest drop observed since December 2008, according to Labor Department figures.<\/p>\n<p>&nbsp;<\/p>\n<p><b>Japan firmly on path of progress<\/b><\/p>\n<p>&nbsp;<\/p>\n<p>Yesterday Japan gave out indications that it is finally on the path of progress after the GDP beat expectations. Today the latest machinery orders data also seems to fall in with the overall trend of beating market expectations. Japan machine orders registered in March increased by 14.2% over the previous month vs. 3.5% expected.<\/p>\n<p>&nbsp;<\/p>\n<p><b>NZD stumbles as growth expectations lowered<\/b><\/p>\n<p><b>\u00a0<\/b><\/p>\n<p>NZD (kiwi) eased by 0.13 percent against its Aussie counterpart in the overnight session. According to Finance Minister Bill English the New Zealand economy will only grow 2.3 % in the 2013-2014 period as opposed to initial expectations of 3.0 % growth.<\/p>\n<p>&nbsp;<\/p>\n<p><i>Going on holiday? Compare travel money deals with our sister site mytravelmoney.com<\/i><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sinduja Venkat Good morning and welcome to today\u2019s foreign exchange market commentary on 17th of May.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: GBP advances on carryover effect from inflation report Asmussen cautions Germany on sluggish growth indicators USD volatile following Fed\u2019s indications on QE Japan firmly on path of progress NZD stumbles as growth expectations lowered \u00a0 CURRENCY RATES [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[110],"tags":[],"_links":{"self":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2848"}],"collection":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/comments?post=2848"}],"version-history":[{"count":1,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2848\/revisions"}],"predecessor-version":[{"id":2849,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2848\/revisions\/2849"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=2848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=2848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=2848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}