{"id":2886,"date":"2013-06-04T19:23:12","date_gmt":"2013-06-04T19:23:12","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=2886"},"modified":"2013-06-04T19:23:12","modified_gmt":"2013-06-04T19:23:12","slug":"gbp-rally-muted-against-peers-ahead-of-us-data","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/gbp-rally-muted-against-peers-ahead-of-us-data\/","title":{"rendered":"GBP rally muted against peers ahead of US Data"},"content":{"rendered":"<p><a href=\"https:\/\/plus.google.com\/111687047260609547765\/posts\"><b>Sinduja Venkat<\/b><\/a><\/p>\n<p>Good morning and welcome to today\u2019s foreign exchange market commentary on 4<sup>th<\/sup> of June.<b>\u00a0<\/b><\/p>\n<p><b>Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights:<\/b><\/p>\n<ul>\n<li>GBP muted against peers ahead of US data<\/li>\n<li>EUR up despite weak growth indicators<\/li>\n<li>US markets lose ground as USD gains<\/li>\n<li>Yen will remain weak, say Analysts<\/li>\n<li>RBA keeps policy rate unchanged<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0 <\/b><\/p>\n<p><b>GBP\/EURO \u2013 <\/b>1.1695<br \/>\n<b>GBP\/USD \u2013 <\/b>1.5305<br \/>\n<b>GBP\/CHF \u2013 <\/b>1.4489<br \/>\n<b>GBP\/CAD &#8211; <\/b>1.5797<br \/>\n<b>GBP\/AUD \u2013 <\/b>1.5819<br \/>\n<b>GBP\/ZAR \u2013 <\/b>14.8592<br \/>\n<b>GBP\/JPY \u2013 <\/b>153.2514<b><\/b><br \/>\n<b>GBP\/HKD \u2013 <\/b>11.8789<br \/>\n<b>GBP\/NZD \u2013 <\/b>1.9041<br \/>\n<b>GBP\/SEK \u2013 <\/b>10.0273<\/p>\n<p>&nbsp;<\/p>\n<p><i>Mid-market rates as of 2013-06-04 11:51 UTC<\/i><\/p>\n<p><b>Key releases in the next 24 hours that may affect currency date:<\/b><\/p>\n<p><b>Australia:\u00a0<\/b>AUD AiG Performance of Service Index (MAY)<br \/>\n<b>Europe:\u00a0<\/b>No Data<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 Trade Balance (APR)<br \/>\n<b>China: <\/b>No Data<b><\/b><br \/>\n<b>Canada: <\/b>No Data<b><\/b><br \/>\n<b>Japan: <\/b>No Data<b><\/b><\/p>\n<p><b>\u00a0<\/b><\/p>\n<p><b>GBP muted against peers ahead of US data<\/b><\/p>\n<p>GBP movement against the greenback appeared to be quiet this morning ahead of US trade data coming up. However the pair managed to hold up in the 1.5300 zone. Steady EUR data helped prop up EUR\/GBP rates this morning despite a better than expected Construction PMI outcome. Data movers and shakers that are not expected to impact the GBP in the coming days include the Central banks, BoE and ECB, meetings.<\/p>\n<p><b>EUR up despite weak growth indicators<\/b><\/p>\n<p><b>\u00a0<\/b><\/p>\n<p>The Euro rallied up to 1.3096 despite the Producer Prices in the Euro area declining to an annualized 0.2% in April, indicating its first dip since February 2010. However the short-term rebound in the Euro appears to be dampening ahead of rate cut talks this week. \u00a0The European Central Bank (ECB) interest rate decision is likely to be announced this week amid the dwindling economic outlook for the region.<\/p>\n<p><b>US markets lose ground as USD gains<\/b><\/p>\n<p>Tuesday saw a renewed round of\u00a0rumours\u00a0on the likelihood of the Fed scaling back its monthly asset purchases in the near future, amongst investors on Tuesday, leading to a general depression in the overall market sentiment. However the greenback gained and managed to gain lost ground from yesterday\u2019s losses. The Dow Jones dipped by 0.56% followed by the Nasdaq, 0.48% and the S&amp;P 500, 0.57%.<\/p>\n<p><b>Yen will remain weak, say Analysts<\/b><\/p>\n<p>Market analysts indicate that Yen\u2019s weakness will continue to persist on trade deficits and went further to comment begins that share prices of Japanese stocks tend to increase demand which is driven by the prospect of improved corporate earnings due to the weaker yen. It is expected that since Japan is running trade deficits, the yen is unlikely to actually witness the levels of appreciation that it has observed in the past.<\/p>\n<p><b>RBA keeps policy rate unchanged<\/b><\/p>\n<p>RBA kept its policy rate unchanged at 2.75%, in line with market expectations. While RBA noted that the current level of the policy rate was sufficient, it indicate that it hasn\u2019t ruled out cutting rates in the coming months. RBA stated that the inflation outlook continues to provide scope for further easing, should that be required to support demand.<\/p>\n<p><i>Going on holiday? Compare travel money deals with our sister site mytravelmoney.co.uk<\/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 4th of June.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: GBP muted against peers ahead of US data EUR up despite weak growth indicators US markets lose ground as USD gains Yen will remain weak, say Analysts RBA keeps policy rate unchanged CURRENCY RATES OVERVIEW\u00a0 GBP\/EURO \u2013 [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2886"}],"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=2886"}],"version-history":[{"count":1,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2886\/revisions"}],"predecessor-version":[{"id":2887,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2886\/revisions\/2887"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=2886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=2886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=2886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}