{"id":2911,"date":"2013-06-20T11:30:14","date_gmt":"2013-06-20T11:30:14","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=2911"},"modified":"2013-06-21T07:59:33","modified_gmt":"2013-06-21T07:59:33","slug":"global-markets-dip-on-fomc-meet-outcome","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/global-markets-dip-on-fomc-meet-outcome\/","title":{"rendered":"Global markets dip on FOMC meet outcome"},"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\u00a0foreign exchange market commentary on 20<sup>th<\/sup>\u00a0of June.<b>\u00a0<\/b><\/p>\n<p><b>Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights:<\/b><\/p>\n<ul>\n<li>Sterling\u00a0dips against Greenback post FOMC outcome<\/li>\n<li>Eurozone\u00a0ministers agree to new deal on origin of bailout funds<\/li>\n<li>US\u00a0stocks decline post stimulus meet<\/li>\n<li>USD\/JPY appreciates on FOMC Meet and Amari comments<\/li>\n<li>USD\/CAD\u00a0ascent continues post strong US jobs data<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0<\/b><\/p>\n<p><b>GBP\/EURO \u2013\u00a0<\/b>1.1645<br \/>\n<b>GBP\/USD \u2013\u00a0<\/b>1.5436<br \/>\n<b>GBP\/CHF \u2013\u00a0<\/b>1.4349<br \/>\n<b>GBP\/CAD \u2013\u00a0<\/b>1.5886<br \/>\n<b>GBP\/AUD \u2013\u00a0<\/b>1.6696<br \/>\n<b>GBP\/ZAR \u2013\u00a0<\/b>15.7505<br \/>\n<b>GBP\/JPY \u2013\u00a0<\/b>149.9370<br \/>\n<b>GBP\/HKD \u2013\u00a0<\/b>11.9728<br \/>\n<b>GBP\/NZD \u2013\u00a0<\/b>1.9658<br \/>\n<b>GBP\/SEK \u2013\u00a0<\/b>10.0050<\/p>\n<p><i>Mid-market rates as of 2013-06-20 04:00 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-Area Finance Ministers Meet in Luxembourg, EUR Euro-Zone Consumer Confidence (JUN A)<br \/>\n<b>United Kingdom:\u00a0\u00a0<\/b>No Data<br \/>\n<b>New Zealand:\u00a0<\/b>No Data<br \/>\n<b>United States of America:\u00a0<\/b>USD Initial Jobless Claims (JUN 15), USD Markit US PMI Preliminary (JUN), USD Existing Home Sales (MoM) (MAY), USD Leading Indicators (MAY), USD Philadelphia Fed. (JUN)<br \/>\n<b>China:\u00a0<\/b>No Data<br \/>\n<b>Canada:\u00a0<\/b>No Data<br \/>\n<b>Japan:\u00a0<\/b>No Data<\/p>\n<p><b>Sterling dips against Greenback post FOMC outcome<\/b><\/p>\n<p>GBP\/USD pair has been hovering in the region between 1.5450 and 1.5485 after the FOMC meet in the US as well as optimistic UK Retail sales figures. Sterling dipped from 1.5668 level to 1.5460 after the release of the FOMC outcome overnight. While no changes were made to the current pace of Quantitative Easing in the US, Fed\u2019s Bernanke stated that downside risks to the outlook for the economy and the labor market as having diminished since September last year. This comment set off the global markets and stocks worldwide saw depreciation in its value.<\/p>\n<p><b>Eurozone ministers agree to new deal on origin of bailout funds<\/b><\/p>\n<p>Eurozone ministers have come to a deal on the origin of funds for the prospective bank bailouts from now on. According to the new deal the local government will contribute to 20% of the bailout amount whereas the ESM (European Stability Mechanism) bailout fund will pay up the remaining 80%. This decision comes as EU finance ministers have made an agreement for the ESM to be used as an investment vehicle for banks under stress.<\/p>\n<p><b>US stocks decline post stimulus meet<\/b><\/p>\n<p>US stocks dipped on Thursday as investor&#8217;s sentiments plummeted following the closing comments from the FOMC stimulus talks as well as a slowdown in Chinese manufacturing industry. The Dow Jones and the S&amp;P declined the most in a single day this year. The Dow Jones fell by 353.87 points to 14,758.32 while the S&amp;P 500 dipped by 40.74 points to 1,588.19. Greenback advanced well against all peers.<\/p>\n<p><b>USD\/JPY appreciates on FOMC Meet and Amari comments<\/b><\/p>\n<p>USD\/JPY ended trading on a higher note for the fourth consecutive day and added 103 pips to its value to close at 97.31 Yen. In addition, Japan\u2019s economic minister Amari said on Thursday that his government is going to consider lowering corporate tax rates. The statement too helped boost the USD\/JPY to higher highs.<\/p>\n<p><b>USD\/CAD ascent continues post strong US jobs data <\/b><\/p>\n<p>The USD\/CAD continued its ascent at 1.0381 (European session) while continuing to remain entrenched in the black post the release of US jobs data.<\/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\u00a0foreign exchange market commentary on 20th\u00a0of June.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: Sterling\u00a0dips against Greenback post FOMC outcome Eurozone\u00a0ministers agree to new deal on origin of bailout funds US\u00a0stocks decline post stimulus meet USD\/JPY appreciates on FOMC Meet and Amari comments USD\/CAD\u00a0ascent continues post strong US jobs data CURRENCY RATES OVERVIEW\u00a0 [&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\/2911"}],"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=2911"}],"version-history":[{"count":1,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2911\/revisions"}],"predecessor-version":[{"id":2912,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2911\/revisions\/2912"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=2911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=2911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=2911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}