{"id":2895,"date":"2013-06-10T14:53:16","date_gmt":"2013-06-10T14:53:16","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=2895"},"modified":"2013-06-10T14:53:16","modified_gmt":"2013-06-10T14:53:16","slug":"gbp-ends-week-on-strong-note-outlook-remains-positive","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/gbp-ends-week-on-strong-note-outlook-remains-positive\/","title":{"rendered":"GBP ends week on strong note, outlook remains positive"},"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 10<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 ends week strong, outlook remains positive<\/li>\n<li>ECB will remain accommodative, expects moderate Eurozone growth<\/li>\n<li>Fed Plosser\u2019s comments boost USD<\/li>\n<li>Yen set for more action in run-up to BoJ meet<\/li>\n<li>CAD outperforms peers on positive jobs data<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0 <\/b><\/p>\n<p><b>GBP\/EURO \u2013 <\/b>1.1749<br \/>\n<b>GBP\/USD \u2013 <\/b>1.5528<br \/>\n<b>GBP\/CHF \u2013 <\/b>1.4558<br \/>\n<b>GBP\/CAD &#8211; <\/b>1.5833<br \/>\n<b>GBP\/AUD \u2013 <\/b>1.6467<br \/>\n<b>GBP\/ZAR \u2013 <\/b>15.7699<br \/>\n<b>GBP\/JPY \u2013 <\/b>153.3171<b><\/b><br \/>\n<b>GBP\/HKD \u2013 <\/b>12.0550<br \/>\n<b>GBP\/NZD \u2013 <\/b>1.9691<br \/>\n<b>GBP\/SEK \u2013 <\/b>10.2371<\/p>\n<p><i>Mid-market rates as of 2013-06-10 10:32 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>No Data<br \/>\n<b>Europe:\u00a0<\/b>EUR Euro-Zone Sentix Investor Confidence (JUN), EUR Italian Gross Domestic Product s.a. and w.d.a. (YoY) (1Q F)<br \/>\n<b>United Kingdom:\u00a0 <\/b>GBP RICS House Price Balance (MAY)<br \/>\n<b>New Zealand:\u00a0<\/b>No Data<br \/>\n<b>United States of America:\u00a0<\/b>No Data<br \/>\n<b>China: <\/b>No Data<br \/>\n<b>Canada: <\/b>CAD Housing Starts (MAY)<br \/>\n<b>Japan: <\/b>JPY BSI Large All Industry (QoQ) (2Q)<\/p>\n<p><b>GBP ends week strong, outlook remains positive<\/b><\/p>\n<p>GBP ended last week\u2019s session on a strong footing with coming weeks being relatively light with respect to data releases except for Tuesday\u2019s NIESR quarterly GDP growth estimate for the three months to the end of May. Investors holding on to GBP denominated assets will be looking for equal or better gains than 0.8% of last month as an evidence of a healing British economy.<\/p>\n<p><b>ECB will remain accommodative, expects moderate Eurozone growth<\/b><\/p>\n<p>European Central Bank member Coeure conceded that the central bank will keep its monetary policy accommodative as long as necessary. German ECB representative Weidmann stated that the German economy has overcome its weak phase and is likely to witness good growth and recovery. Market participants however expect that this recovery will depend on Euro-area stabilization.\u00a0 Meanwhile Italy\u2019s GDP for Q1 declined by 0.6% decline as compared to the expected level of decline at 0.5%. Euro continues to trade in the region of 1.3225 against the USD.<\/p>\n<p><b>Fed Plosser\u2019s comments boost USD<\/b><\/p>\n<p>USD advanced against all its peers on Friday following positive US nonfarm payrolls (NFP) numbers coming in towards the end of the week at 175,000. Positive comments from Fed\u2019s Plosser on Friday also added further strength to the USD.<\/p>\n<p><b>Yen set for more action in run-up to BoJ meet<\/b><\/p>\n<p>The Bank of Japan meeting tomorrow is expected to impact yen movement this week.\u00a0 Today better than expected data was released including Japanese Current Accounts as well as the upward revision to GDP. Although Finance Minister Abe seems to have made a material impact on the Japanese economy the issue of the high levels of volatility in Japanese Government Bonds and the Japanese Yen.<\/p>\n<p><b>CAD outperforms peers on positive jobs data<\/b><\/p>\n<p>CAD outperformed all its peers during Friday\u2019s session following the announcement of domestic job creation data for May which beat market expectations. Better than expected US Non-Farm Payrolls figure also added to the strength of the CAD. The GBP\/ CAD pair was trading at 1.5851 at the end of Friday\u2019s session.<\/p>\n<p><i>Going on holiday? Compare travel money deals with our sister site mytravelmoney.co.uk<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sinduja Venkat Good morning and welcome to today\u2019s foreign exchange market commentary on 10th of June.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: GBP ends week strong, outlook remains positive ECB will remain accommodative, expects moderate Eurozone growth Fed Plosser\u2019s comments boost USD Yen set for more action in run-up to BoJ meet CAD outperforms peers on positive jobs data [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[110,3],"tags":[],"_links":{"self":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2895"}],"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=2895"}],"version-history":[{"count":1,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2895\/revisions"}],"predecessor-version":[{"id":2896,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2895\/revisions\/2896"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=2895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=2895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=2895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}