{"id":2931,"date":"2013-07-01T18:00:11","date_gmt":"2013-07-01T18:00:11","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=2931"},"modified":"2013-07-02T05:10:07","modified_gmt":"2013-07-02T05:10:07","slug":"carney-takes-over-from-sir-king-significant-changes-in-qe-policy-expected","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/carney-takes-over-from-sir-king-significant-changes-in-qe-policy-expected\/","title":{"rendered":"Carney takes over from Sir King, significant changes in QE policy expected"},"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 1<sup>st<\/sup>\u00a0of July.<b>\u00a0<\/b><\/p>\n<p><b>Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights:<\/b><\/p>\n<ul>\n<li>Carney takes over from Sir King, significant changes in QE policy expected<\/li>\n<li>EUR\/USD on the defensive post IMF announcement on Greek debt tranche<\/li>\n<li>US Stocks open week on higher note<\/li>\n<li>USD\/JPY rally boosted by US Markit data<\/li>\n<li>USD\/CAD regains 1.0500<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0<\/b><\/p>\n<p><b>GBP\/EURO \u2013\u00a0<\/b>1.1680<br \/>\n<b>GBP\/USD \u2013\u00a0<\/b>1.5213<br \/>\n<b>GBP\/CHF \u2013\u00a0<\/b>1.4373<br \/>\n<b>GBP\/CAD \u2013\u00a0<\/b>1.5997<br \/>\n<b>GBP\/AUD \u2013\u00a0<\/b>1.6577<br \/>\n<b>GBP\/ZAR \u2013\u00a0<\/b>15.0232<br \/>\n<b>GBP\/JPY \u2013\u00a0<\/b>151.1116<br \/>\n<b>GBP\/HKD \u2013\u00a0<\/b>11.7988<br \/>\n<b>GBP\/NZD \u2013\u00a0<\/b>1.9577<br \/>\n<b>GBP\/SEK \u2013\u00a0<\/b>10.1820<\/p>\n<p><i>Mid-market rates as of 2013-07-01 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>AUD TD Securities Inflation (YoY) (JUN)<br \/>\n<b>Europe:\u00a0<\/b>CHF SVME-Purchasing Managers Index (JUN), EUR German Purchasing Manager Index Manufacturing (JUN F), EUR Euro-Zone Purchasing Manager Index Manufacturing (JUN F), EUR Euro-Zone Consumer Price Index Estimate (YoY) (JUN), EUR Euro-Zone Unemployment Rate (MAY), EUR Euro-Zone Consumer Price Index &#8211; Core (YoY) (JUN A),<br \/>\n<b>United Kingdom:\u00a0\u00a0<\/b>GBP Purchasing Manager Index Manufacturing (JUN), GBP Net Consumer Credit (MAY), GBP Net Lending Sec. on Dwellings (MAY), GBP Mortgage Approvals (MAY)<br \/>\n<b>New Zealand:\u00a0<\/b>No Data<br \/>\n<b>United States of America:\u00a0<\/b>USD Construction Spending (MoM) (MAY), USD ISM Manufacturing (JUN), USD ISM Prices Paid (JUN)<br \/>\n<b>China:<\/b> CNY Leading Index (MAY), CNY Manufacturing PMI (JUN), CNY HSBC Manufacturing PMI (JUN)<br \/>\n<b>Canada:<\/b> No Data<br \/>\n<b>Japan:\u00a0<\/b>No Data<b><\/b><\/p>\n<p><b>Carney takes over from Sir King, significant changes in QE policy expected<\/b><\/p>\n<p>New governor of Bank of England Mark Carney assumed his new position on Monday. Carney has his work cut out for him as King&#8217;s successor with the Monetary Policy Committee meeting convening on Thursday. Carney who is the first non-British BoE governor in history is expected to implement several new changes to the BoE\u2019s monetary policy. Carney who has managed to protect Canada from the worst effects of the global financial crisis under which most of the developed economies are still suffering was chosen by George Osborne for his experience.<\/p>\n<p><b>EUR\/USD on the defensive post IMF announcement on Greek debt tranche<\/b><\/p>\n<p>EUR\/USD pair continued to defend itself on Monday posting steady figures of around 1.3030\/40 after data showed the US Markit manufacturing PMI came in stronger-than-expected in June. After cruising ahead to 1.3060 thanks to strong\u00a0 Eurozone PMI figures, the pair lost ground following headlines emerging that IMF will halt next tranche if Greek finance gap is not covered by end of July.<\/p>\n<p><b>US Stocks open week on higher note<\/b><\/p>\n<p>US stocks opened the week on a higher note on Monday after having secured modest gains across the board following the release of upbeat US economic data. In the United States, the Markit Manufacturing PMI (June) came in at 51.9 as compared to expectations of 50.60. The NASDAQ rose by 0.97% as it settles in region of 3436.78, up +33.97 points.<\/p>\n<p><b>USD\/JPY rally boosted by US Markit data<\/b><\/p>\n<p>USD\/JPY rally continued on Monday with no wavering being observed in the technical patterns during US trading, though still held in check by the 100.00 upside barrier. This rally was boosted by optimistic data coming from the US, namely the Markit Manufacturing PMI (June) which came in at 51.9, beating expectations of 50.60.<\/p>\n<p><b>USD\/CAD regains 1.0500<\/b><\/p>\n<p>USD\/CAD foreign exchange rate regained the 1.0500 level earlier on. Canadian investors are on holiday today however economic data was on tap south of the border with the US releasing positive Markit Manufacturing PMI for June.<\/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\u00a0foreign exchange market commentary on 1st\u00a0of July.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: Carney takes over from Sir King, significant changes in QE policy expected EUR\/USD on the defensive post IMF announcement on Greek debt tranche US Stocks open week on higher note USD\/JPY rally boosted by US Markit data USD\/CAD regains [&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\/2931"}],"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=2931"}],"version-history":[{"count":2,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2931\/revisions"}],"predecessor-version":[{"id":2933,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2931\/revisions\/2933"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=2931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=2931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=2931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}