{"id":2899,"date":"2013-06-12T18:20:27","date_gmt":"2013-06-12T18:20:27","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=2899"},"modified":"2013-06-12T18:20:27","modified_gmt":"2013-06-12T18:20:27","slug":"gbp-boosted-by-optimistic-jobs-data","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/gbp-boosted-by-optimistic-jobs-data\/","title":{"rendered":"GBP boosted by optimistic jobs 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 12<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 boosted by optimistic jobs data<\/li>\n<li>EUR runs out of steam, signals for ECB move on rate cut<\/li>\n<li>USD on defensive; battered owing to Asian sales<b><\/b><\/li>\n<li>Nomura estimates larger trade deficit for Japan in May<\/li>\n<li>AUD up for action on dismal May employment figures<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0 <\/b><\/p>\n<p><b>GBP\/EURO \u2013 <\/b>1.1762<br \/>\n<b>GBP\/USD \u2013 <\/b>1.5664<br \/>\n<b>GBP\/CHF \u2013 <\/b>1.4474<br \/>\n<b>GBP\/CAD &#8211; <\/b>1.5958<br \/>\n<b>GBP\/AUD \u2013 <\/b>1.6494<br \/>\n<b>GBP\/ZAR \u2013 <\/b>15.6583<br \/>\n<b>GBP\/JPY \u2013 <\/b>150.3799<b><\/b><br \/>\n<b>GBP\/HKD \u2013 <\/b>12.1625<br \/>\n<b>GBP\/NZD \u2013 <\/b>1.9674<br \/>\n<b>GBP\/SEK \u2013 <\/b>10.2238<\/p>\n<p><i>Mid-market rates as of 2013-06-12 14:16 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 Industrial Production w.d.a. (YoY) (APR)<br \/>\n<b>United Kingdom:\u00a0 <\/b>GBP Claimant Count Rate (MAY), GBP Jobless Claims Change (MAY), GBP Average Weekly Earnings (3M\/(YoY)) (APR), GBP ILO Unemployment Rate (3M) (APR), GBP Employment Change (3M\/3M) (APR),<br \/>\n<b>New Zealand:\u00a0<\/b>NZD Reserve Bank of New Zealand Rate Decision (JUN 13)<br \/>\n<b>United States of America:\u00a0<\/b>USD Monthly Budget Statement (MAY)<br \/>\n<b>China: <\/b>No Data<br \/>\n<b>Canada: <\/b>No Data<br \/>\n<b>Japan: <\/b>JPY Japan Buying Foreign Bonds (Yen) (JUN 7), JPY Japan Buying Foreign Stocks (Yen) (JUN 7)<\/p>\n<p><b>GBP boosted by optimistic jobs data<\/b><\/p>\n<p>Wednesdays\u2019s London session witnessed positive data being reported by UK Office of National Statistics with respect to overall level of UK unemployment having declined by 5,000 in the three months ending in April. \u00a0The optimistic news boosted the GBP against several important peers. GBP\/EUR pair rose up to 1.1805 earlier on.<\/p>\n<p><b>EUR runs out of steam, signals for ECB move on rate cut<\/b><\/p>\n<p>The EUR\/USD pair seemed to run out of steam during today\u2019s trading session. Analysts observe that Draghi has implied recently in one of his press meets that there needs to be considerable worsening of the data for the ECB to sanction a further rate cut.<\/p>\n<p><b>USD on defensive; battered owing to Asian sales<\/b><\/p>\n<p>USD appeared to be on the defensive during Wednesday\u2019s trading session with Dollar Index breaching the 82.00 level. The greenback continued to remain resilient, however this was masked somewhat by Asian central bank increasing sales of the USD.<\/p>\n<p><b>Nomura estimates larger trade deficit for Japan in May<\/b><\/p>\n<p>Nomura economists have indicated a larger than present trade deficit in May, with the first rise in real exports being witnessed in over two months. According to their estimates, nominal trade deficit is \u00a51,232.7bn. After adjustment they estimate a deficit of \u00a5963.5bn, much larger than the deficit of \u00a5764.4bn in April.<\/p>\n<p><b>AUD up for action on dismal May employment figures <\/b><\/p>\n<p>AUD is expected to be rattled in the next 24 hours as its economy is expected to shed 10000 jobs in May. Unemployment rate also is expected to rally to 5.6% despite a dip in the participation rate. It must be remembered that a dismal report will increase speculation for another rate cut as the Reserve Bank of Australian (RBA) as the bank aims to encourage a stronger recovery.<\/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 12th of June.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: GBP boosted by optimistic jobs data EUR runs out of steam, signals for ECB move on rate cut USD on defensive; battered owing to Asian sales Nomura estimates larger trade deficit for Japan in May AUD up [&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\/2899"}],"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=2899"}],"version-history":[{"count":1,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2899\/revisions"}],"predecessor-version":[{"id":2900,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2899\/revisions\/2900"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=2899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=2899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=2899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}