{"id":2908,"date":"2013-06-19T18:10:50","date_gmt":"2013-06-19T18:10:50","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=2908"},"modified":"2013-06-19T18:10:50","modified_gmt":"2013-06-19T18:10:50","slug":"markets-muted-ahead-of-fomc-meet","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/markets-muted-ahead-of-fomc-meet\/","title":{"rendered":"Markets muted ahead of FOMC Meet"},"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 19<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>BoE minutes release indicates 6-3 split on increasing QE<\/li>\n<li>EUR\/USD mixed, waits for Fed meeting signals<\/li>\n<li>US markets open on cautious note ahead of FOMC meet<\/li>\n<li>Kuroda assures BoJ support to lessen volatility in bond markets<\/li>\n<li>CAD posts strong showing against USD after strong domestic wholesales data<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0 <\/b><\/p>\n<p><b>GBP\/EURO \u2013 <\/b>1.1683<br \/>\n<b>GBP\/USD \u2013 <\/b>1.5659<br \/>\n<b>GBP\/CHF \u2013 <\/b>1.4397<br \/>\n<b>GBP\/CAD &#8211; <\/b>1.5958<br \/>\n<b>GBP\/AUD \u2013 <\/b>1.6420<br \/>\n<b>GBP\/ZAR \u2013 <\/b>15.5487<br \/>\n<b>GBP\/JPY \u2013 <\/b>148.7799<b><\/b><br \/>\n<b>GBP\/HKD \u2013 <\/b>12.1456<br \/>\n<b>GBP\/NZD \u2013 <\/b>1.9467<br \/>\n<b>GBP\/SEK \u2013 <\/b>10.0065<\/p>\n<p><i>Mid-market rates as of 2013-06-19 15:01 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>CHF ZEW Survey (Expectations) (JUN)<br \/>\n<b>United Kingdom:\u00a0 <\/b>UK&#8217; Osborne and BoE&#8217;s King Deliver Mansion House Speeches<br \/>\n<b>New Zealand:\u00a0<\/b>NZD Gross Domestic Product (YoY) (1Q), NZD Gross Domestic Product (QoQ) (1Q)<br \/>\n<b>United States of America:\u00a0<\/b>USD Federal Reserve FOMC Meeting, USD Fed Releases Summary of Economic Projections, USD Federal Open Market Committee Rate Decision (JUN 19), USD Fed&#8217;s Bernanke Holds Press Conference in Washington<br \/>\n<b>China: <\/b>No Data<br \/>\n<b>Canada: <\/b>CAD BoC Governor Poloz Speaks in Ontario<br \/>\n<b>Japan: <\/b>JPY Japan Buying Foreign Bonds (Yen) (JUN 14), JPY Japan Buying Foreign Stocks (Yen) (JUN 14)<\/p>\n<p><b>BoE minutes release indicates 6-3 split on increasing QE<\/b><\/p>\n<p>This morning minutes of June\u2019s Bank of England monetary policy committee meeting was released. The minutes revealed that the nine man committee was split 6-3 on whether to increase the \u00a3375bn which has already been allocated to the Quantitative Easing programme initially. However things are expected to be different at July\u2019s meeting when Mark Carney who functioned as Governor of the Bank of Canada, takes over as Governor of the Bank of England on the 1st of July. Carney replaces King who has dissented to an extension of the BoE\u2019s asset purchase scheme.<\/p>\n<p><b>EUR\/USD mixed, waits for Fed meeting signals<\/b><\/p>\n<p>Against the background of worried investors ahead of the FOMC meet the EUR\/USD continues to tread on mixed sentiments. Lack of direction continues to prevail amongst traders and market participants as it is considered that an attempt to trade either currency would be adventurous ahead of the Fed meet. The expectation is that the Fed will embrace the idea that monetary policy tapering is a probable outcome in the short term.<\/p>\n<p><b>US markets open on cautious note ahead of FOMC meet<\/b><\/p>\n<p>US stock markets opened on a mixed note this morning ahead of the FOMC meet. With regards to indices, the NASDAQ fell by 0.10% at 3478.65. The S&amp;P 500 was also trading in negative territory at 1648.35 down by 3.29 points.<\/p>\n<p><b>Kuroda assures BoJ support to lessen volatility in bond markets<\/b><\/p>\n<p>BoJ Governor Haruhiko Kuroda indicated today that the central bank\u2019s current monetary policy would remain unchanged until a reasonable change occurs in the economy. Kuroda further assured that the BoJ would try it\u2019s best to avoid bond market volatility and hikes in long-term interest rates by implementing flexible market operations.<\/p>\n<p><b>CAD posts strong showing against USD after strong domestic wholesales data<\/b><\/p>\n<p>USD\/CAD declined below the 1.0200 mark at the start of the New York session following data release that showed Canadian wholesales increased in April as expected. \u00a0Despite USD\/CAD attempt to recover, it failed to do this and fell to a new low at 1.0180 at the time of writing .<\/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 19th of June.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: BoE minutes release indicates 6-3 split on increasing QE EUR\/USD mixed, waits for Fed meeting signals US markets open on cautious note ahead of FOMC meet Kuroda assures BoJ support to lessen volatility in bond markets CAD [&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\/2908"}],"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=2908"}],"version-history":[{"count":1,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2908\/revisions"}],"predecessor-version":[{"id":2909,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2908\/revisions\/2909"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=2908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=2908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=2908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}