{"id":2956,"date":"2013-07-15T22:00:24","date_gmt":"2013-07-15T22:00:24","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=2956"},"modified":"2013-07-16T07:11:37","modified_gmt":"2013-07-16T07:11:37","slug":"near-term-rebound-in-gbp-expected-ahead-of-cpi-reading","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/near-term-rebound-in-gbp-expected-ahead-of-cpi-reading\/","title":{"rendered":"Near term rebound in GBP expected ahead of CPI reading"},"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 15th\u00a0of July.<b>\u00a0<\/b><\/p>\n<p><b>Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights:<\/b><\/p>\n<ul>\n<li>Near term rebound in GBP expected ahead of CPI reading<\/li>\n<li>Portugal vows to reach a pact to end turmoil<\/li>\n<li>USD dips on weak June retail reading<\/li>\n<li>USD\/JPY unable to breach 100.00<\/li>\n<li>Chinese data aids AUD to begin week on optimistic note<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0<\/b><\/p>\n<p><b>GBP\/EURO \u2013\u00a0<\/b>1.5119<br \/>\n<b>GBP\/USD \u2013\u00a0<\/b>1.1569<br \/>\n<b>GBP\/CHF \u2013\u00a0<\/b>1.4310<br \/>\n<b>GBP\/CAD \u2013\u00a0<\/b>1.5704<br \/>\n<b>GBP\/AUD \u2013\u00a0<\/b>1.6628<br \/>\n<b>GBP\/ZAR \u2013\u00a0<\/b>15.0965<br \/>\n<b>GBP\/JPY \u2013\u00a0<\/b>150.0759<br \/>\n<b>GBP\/HKD \u2013\u00a0<\/b>11.7299<br \/>\n<b>GBP\/NZD \u2013\u00a0<\/b>1.9367<br \/>\n<b>GBP\/SEK \u2013\u00a0<\/b>10.0900<\/p>\n<p><i>Mid-market rates as of 2013-07-15 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>No Data<br \/>\n<b>United Kingdom:\u00a0\u00a0<\/b>No Data<br \/>\n<b>New Zealand: <\/b>NZD Consumer Prices Index (QoQ) (2Q), NZD Consumer Prices Index (YoY) (2Q)<br \/>\n<b>United States of America:\u00a0<\/b>USD Advance Retail Sales (JUN), USD Retail Sales Less Autos (JUN), USD Retail Sales Less Autos (JUN)<br \/>\n<b>China:<\/b> CNY Real GDP YTD (YoY) (2Q), CNY GDP (YoY) (2Q), CNY Real GDP (QoQ) (2Q), CNY Industrial Production YTD (YoY) (JUN), CNY Industrial Production (YoY) (JUN), CNY Fixed Assets Inv Excl. Rural YTD (YoY) (JUN), CNY Retail Sales YTD (YoY) (JUN), CNY Retail Sales (YoY) (JUN)<br \/>\n<b>Canada:<\/b> CAD Existing Home Sales (MoM) (JUN)<br \/>\n<b>Japan:\u00a0<\/b>No Data<\/p>\n<p><b>Near term rebound in GBP expected ahead of CPI reading<\/b><\/p>\n<p>The near-term rebound in the GBP is expected to increase its pace over the next 24-hours of trading as the headline CPI reading in the UK is due for release and this figure is expected to expand by an annualized 3.0% in June, which would mark the fastest pace of growth since April 2012. Markets expect that increased price pressures may push the BoE to adopt a conservative tone for monetary policy as the U.K. has consistently dealt with greater than expected inflation since December 2009, and the Monetary Policy Committee is expected to switch gears later this year in an effort to ensure central bank credibility. Although there&#8217;s speculation that the BoE will ultimately adopt an innovative growth stance under new BoE Governor Mark Carney, the monetary policy committee remains prepared to operate under its inflation-targeting framework.<\/p>\n<p><b>Portugal vows to reach a pact to end turmoil<\/b><\/p>\n<p>Late last night news from Portugal indicated that the three main political parties have set a July 21st deadline by which to agree to a cross-party national salvation pact that would keep the country\u2019s troika program on track until elections next year. President Silva has said if a pact is reached, he will call for early elections after Portugal exits the program in June.<\/p>\n<p><b>USD dips on weak June retail reading<\/b><\/p>\n<p>The Greenback traded higher on Monday\u2019s trading session prior to the release of a weaker than expected retail sales of 0.4% increase in June and a virtually unchanged reading from ex-autos. Following the release the greenback seemed to have lost its strong hold and dipped against all major currencies.<\/p>\n<p><b>USD\/JPY unable to breach 100.00<\/b><\/p>\n<p>The USD\/JPY pair has not been able to breach the 100.00 region as of Monday\u2019s trading session. Instead the pair seemed to dip lower amidst an easing movement. Meanwhile, US\/Japanese trade balance developments have not been in support of the case for a stronger JPY. US political pressure on Japan for a stronger JPY is unlikely to materialize with USD\/JPY rate between 100 and 107.<\/p>\n<p><b>Chinese data aids AUD to begin week on optimistic note<\/b><\/p>\n<p>Recent Chinese data helped the AUD start the week on an optimistic note according to market analysts. The slowing in Chinese GDP growth to 7.5% was in line with market expectations although higher than rumored figures.<\/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 15th\u00a0of July.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: Near term rebound in GBP expected ahead of CPI reading Portugal vows to reach a pact to end turmoil USD dips on weak June retail reading USD\/JPY unable to breach 100.00 Chinese data aids AUD to begin week on [&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\/2956"}],"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=2956"}],"version-history":[{"count":2,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2956\/revisions"}],"predecessor-version":[{"id":2958,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/2956\/revisions\/2958"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=2956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=2956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=2956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}