{"id":2942,"date":"2013-07-05T09:16:36","date_gmt":"2013-07-05T09:16:36","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=2942"},"modified":"2013-07-05T09:16:36","modified_gmt":"2013-07-05T09:16:36","slug":"gbpusd-rallies-on-strong-pmi-figures","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/gbpusd-rallies-on-strong-pmi-figures\/","title":{"rendered":"GBP\/USD rallies on strong PMI figures"},"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 5th\u00a0of July.<b>\u00a0<\/b><\/p>\n<p><b>Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights:<\/b><\/p>\n<ul>\n<li>GBP\/USD rallies on strong PMI figures<\/li>\n<li>EUR\/USD watching out for US NFP for June<\/li>\n<li>USD begins trade on quiet note post-holiday<\/li>\n<li>USD\/JPY shoots to over 100.00<\/li>\n<li>AUD trades look unappealing on increased volatility<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW<\/b><\/p>\n<p><b>GBP\/EURO \u2013\u00a0<\/b>1.1668<br \/>\n<b>GBP\/USD \u2013\u00a0<\/b>1.5045<br \/>\n<b>GBP\/CHF \u2013\u00a0<\/b>1.4413<br \/>\n<b>GBP\/CAD \u2013\u00a0<\/b>1.5843<br \/>\n<b>GBP\/AUD \u2013\u00a0<\/b>1.6468<br \/>\n<b>GBP\/ZAR \u2013\u00a0<\/b>15.1184<br \/>\n<b>GBP\/JPY \u2013\u00a0<\/b>150.9965<b><\/b><br \/>\n<b>GBP\/HKD \u2013\u00a0<\/b>11.6657<br \/>\n<b>GBP\/NZD \u2013\u00a0<\/b>1.9264<br \/>\n<b>GBP\/SEK \u2013\u00a0<\/b>10.0617<\/p>\n<p><i>Mid-market rates as of 2013-07-05 06:10 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 HIA New Home Sales (MoM) (MAY), AUD Trade Balance (Australian dollar) (MAY), AUD Retail Sales s.a. (MoM) (MAY)<br \/>\n<b>Europe:\u00a0<\/b>CHF CPI &#8211; EU Harmonised (YoY) (JUN), CHF Consumer Price Index (YoY) (JUN), EUR German Factory Orders n.s.a. (YoY) (MAY)<br \/>\n<b>United Kingdom:\u00a0\u00a0<\/b>GBP Purchasing Manager Index Construction (JUN), GBP Purchasing Manager Index Services (JUN)<br \/>\n<b>New Zealand:\u00a0<\/b>No Data<br \/>\n<b>United States of America:\u00a0<\/b>USD Fed Deadline for US Bank Stress Test Results, USD Change in Non-farm Payrolls (JUN), USD Unemployment Rate (JUN), USD Average Hourly Earnings All Employees (YoY) (JUN), USD Change in Household Employment (JUN), USD Change in Private Payrolls (JUN), USD Underemployment Rate (U6) (JUN)<b><\/b><br \/>\n<b>China:<\/b> No Data<b><\/b><br \/>\n<b>Canada:<\/b> CAD Net Change in Employment (JUN), CAD Unemployment Rate (JUN), CAD Full Time Employment Change (JUN), CAD Ivey Purchasing Managers Index s.a. (JUN)<br \/>\n<b>Japan:\u00a0<\/b>JPY Leading Index (MAY P)<\/p>\n<p><b>GBP\/USD rallies on strong PMI figures<\/b><\/p>\n<p>The GBP\/USD finally found some friends on Thursday as it staged a small rally after almost a fortnight of sustained pressure. The GBP was also boosted by the strong PMI figures that came in yesterday morning as services came in at the strongest reading since March 2011, and almost 9 points higher than the Euro area services PMI, which helped the pound gain 1% against the Euro. Mark Carney\u2019s first meeting as the main man of the Monetary Policy Committee culminated at midday yesterday with no changes.<\/p>\n<p><b>EUR\/USD watching out for US NFP for June<\/b><\/p>\n<p>The EUR\/USD is in wait and watch mode this morning ahead of the announcement of the all-important US Payrolls data. The pair was last seen trading below 1.2900 the figure on Friday, extending the intraday losses post ECB meet yesterday.<\/p>\n<p>The euro has continued its decline as sentiment amongst investors remained low following yesterday\u2019s dovish tone from the ECB\u2019s statement. The adoption of forward guidance for the monetary policy by the central bank commanded by Draghi sparked a sharp sell off in the euro, dropping from highs around 1.3020 to fresh 5-week lows.<\/p>\n<p><b>USD begins trade on quiet note post-holiday<\/b><\/p>\n<p>Asia Pac trading began on a quiet note today ahead of key risk event of the week which is the data release of US NFP for the month of June. Gold, Oil and Silver also moved lower after being flat for last 24 hours with US markets being closed over holiday.<\/p>\n<p><b>USD\/JPY shoots to over 100.00<\/b><\/p>\n<p>USD\/JPY has steadily advanced from 99.49 on Thursday morning to reach 100.51 overnight. USD\/JPY is up by 0.25% at the open of the London trading session since the beginning of the Asian market shift, trading largely in the region of 100.30\/35 while the greenback is outperforming with its 2yr yield advantage all despite a steadily improving Japanese economy.<\/p>\n<p><b>AUD trades look unappealing owing to increased volatility<\/b><\/p>\n<p>AUD is looking increasingly exposed to further decline on Friday. Less QE means more volatility and coupled with narrowing interest rate spreads would suggest buying or selling the AUD may be less appealing on a volume adjusted basis.<\/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 5th\u00a0of July.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: GBP\/USD rallies on strong PMI figures EUR\/USD watching out for US NFP for June USD begins trade on quiet note post-holiday USD\/JPY shoots to over 100.00 AUD trades look unappealing on increased volatility CURRENCY RATES OVERVIEW GBP\/EURO \u2013\u00a01.1668 GBP\/USD [&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\/2942"}],"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=2942"}],"version-history":[{"count":1,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2942\/revisions"}],"predecessor-version":[{"id":2943,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2942\/revisions\/2943"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=2942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=2942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=2942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}