{"id":2950,"date":"2013-07-11T22:00:59","date_gmt":"2013-07-11T22:00:59","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=2950"},"modified":"2013-07-12T05:57:40","modified_gmt":"2013-07-12T05:57:40","slug":"gbpusd-advances-on-rise-in-us-jobless-claims","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/gbpusd-advances-on-rise-in-us-jobless-claims\/","title":{"rendered":"GBP\/USD advances on rise in US jobless claims"},"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 11th\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 advances on rise in US jobless claims<\/li>\n<li>EUR\/USD surge continues post Bernanke comments<\/li>\n<li>US equities following dim QE tapering prospects<\/li>\n<li>BoJ makes no significant policy change this week<\/li>\n<li>Australia housing loans data expected to reflect positively on RBA rate cuts<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0<\/b><\/p>\n<p><b>GBP\/EURO \u2013\u00a0<\/b>1.1536<br \/>\n<b>GBP\/USD \u2013\u00a0<\/b>1.5148<br \/>\n<b>GBP\/CHF \u2013\u00a0<\/b>1.4292<br \/>\n<b>GBP\/CAD \u2013\u00a0<\/b>1.5742<br \/>\n<b>GBP\/AUD \u2013\u00a0<\/b>1.6338<br \/>\n<b>GBP\/ZAR \u2013\u00a0<\/b>15.0018<br \/>\n<b>GBP\/JPY \u2013\u00a0<\/b>149.6308<br \/>\n<b>GBP\/HKD \u2013\u00a0<\/b>11.7498<br \/>\n<b>GBP\/NZD \u2013\u00a0<\/b>1.9090<br \/>\n<b>GBP\/SEK \u2013\u00a0<\/b>10.0250<\/p>\n<p><i>Mid-market rates as of 2013-07-11 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 Consumer Inflation Expectation (JUL), AUD Employment Change (JUN), AUD Unemployment Rate (JUN), AUD Full Time Employment Change (JUN)<br \/>\n<b>Europe:\u00a0<\/b>EUR ECB Publishes Monthly Report<br \/>\n<b>United Kingdom:\u00a0\u00a0<\/b>No Data<br \/>\n<b>New Zealand: <\/b>No Data<br \/>\n<b>United States of America:\u00a0<\/b>USD Initial Jobless Claims (JUL 6), USD Monthly Budget Statement (JUN)<br \/>\n<b>China:<\/b> CNY New Yuan Loans (JUN)<br \/>\n<b>Canada:<\/b> CAD New Housing Price Index (YoY) (MAY)<br \/>\n<b>Japan:\u00a0<\/b>JPY Bank of Japan Monetary Policy Statement, JPY Bank of Japan Rate Decision (JUL 11), JPY BOJ 2014 Monetary Base Target (JUL 11), JPY Kuroda Holds Post-Meeting Press Conference<\/p>\n<p><b>GBP\/USD advances on rise in US jobless claims<\/b><\/p>\n<p>GBP\/USD pair was advancing on Thursday, pointing to a higher region despite operating below its daily highs at 1.5196. Overall the pair had positive trading session on Thursday up by +0.94 per cent during US trading as it defends itself in the region of 1.5160.The GBP\/USD moves performed better than market expectations however, the pair failed to stabilize above its key support region. This was following a spate of jobless claims data coming out of the US showing this figure unexpectedly rose last month.<\/p>\n<p><b>EUR\/USD surge continues post Bernanke comments<\/b><\/p>\n<p>EUR\/USD fell to fresh lows after the latest string of US data showed jobless claims unexpectedly rose last week, while imports prices missed estimations. EUR\/USD moved lower on the data, sliding from 1.3050 toward the 1.3015 zone. However, reaction was better compared to yesterday\u2019s sharp surge in the pair following Bernake\u2019s dovish comments on QE policies in the US.<\/p>\n<p><b>US equities following dim QE tapering prospects<\/b><\/p>\n<p>The US stocks market rose sharply on Thursday as investor&#8217;s confidence improved after Bernanke indicated that QE tapering possibilities seemed less likely to begin in September. The S&amp;P 500 performed its best day in over a month while the Nasdaq closed at record high in almost 13 years. The Dow Jones rose by 169.26 points or 1.11% to end the session at 15,460.92 while the S&amp;P 500 advanced by 22.40 points or +1.36% to 1,675.02.<\/p>\n<p><b>BoJ makes no significant policy change this week<\/b><\/p>\n<p>The Bank of Japan has made no significant changes to its monetary policy this week, as expected by market participants. Despite declining inflation expectations, the central bank decided against further easing by placing more emphasis on recent strong economic data and the resilient stock market. Analysts have indicated that current inflation expectation is consistent with 2% inflation within 2 years. But it is becoming clear that BoJ will not ease further as long as USD\/JPY remains at around 100 and the stock market continues to remain optimistic.<\/p>\n<p><b>Australia housing loans data expected to reflect positively on RBA rate cuts<\/b><\/p>\n<p>Thursday will witness Australia publishing housing loans data for May with NAB Economists forecasting an increase in the number of housing loans approved to have risen by 2.5%. The median forecast for this figure according to markets is 2.2%.<br \/>\nRBA expects that this set of data will be one point of reassurance that the rate cuts that it has enforced so far are having a positive effect on the economy.<\/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 11th\u00a0of July.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: GBP\/USD advances on rise in US jobless claims EUR\/USD surge continues post Bernanke comments US equities following dim QE tapering prospects BoJ makes no significant policy change this week Australia housing loans data expected to reflect positively on RBA [&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\/2950"}],"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=2950"}],"version-history":[{"count":2,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2950\/revisions"}],"predecessor-version":[{"id":2952,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2950\/revisions\/2952"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=2950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=2950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=2950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}