{"id":3009,"date":"2013-07-22T22:30:20","date_gmt":"2013-07-22T22:30:20","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=3009"},"modified":"2013-07-24T05:04:45","modified_gmt":"2013-07-24T05:04:45","slug":"gbpeur-plummets-on-surge-in-eurozone-debt","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/gbpeur-plummets-on-surge-in-eurozone-debt\/","title":{"rendered":"GBP\/EUR plummets on surge in Eurozone debt"},"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 22nd\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\/EUR plummets on surge in Eurozone debt<\/li>\n<li>EUR\/USD up for action ahead of spate of Eurozone data releases<\/li>\n<li>US markets open higher amidst earnings season<\/li>\n<li>USD\/JPY unable to recover to 100.00<\/li>\n<li>Aussie bounces further away from 0.9 following China rate news<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0<\/b><\/p>\n<p><b>GBP\/EURO \u2013\u00a0<\/b>1.1644<br \/>\n<b>GBP\/USD \u2013\u00a0<\/b>1.5365<br \/>\n<b>GBP\/CHF \u2013\u00a0<\/b>1.4373<br \/>\n<b>GBP\/CAD \u2013\u00a0<\/b>1.5884<br \/>\n<b>GBP\/AUD \u2013\u00a0<\/b>1.6608<br \/>\n<b>GBP\/ZAR \u2013\u00a0<\/b>15.0671<br \/>\n<b>GBP\/JPY \u2013\u00a0<\/b>153.0246<br \/>\n<b>GBP\/HKD \u2013\u00a0<\/b>11.7855<br \/>\n<b>GBP\/NZD \u2013\u00a0<\/b>1.9298<br \/>\n<b>GBP\/SEK \u2013\u00a0<\/b>9.9613<\/p>\n<p><i>Mid-market rates as of 2013-07-22 16:00 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>No Data<br \/>\n<b>United Kingdom:\u00a0<\/b>No Data<br \/>\n<b>New Zealand: <\/b>No Data<br \/>\n<b>United States of America:\u00a0<\/b>USD Chicago Fed Nat Activity Index (JUN), USD Existing Home Sales (MoM) (JUN)<b><\/b><br \/>\n<b>\u00a0China:<\/b> No Data<br \/>\n<b>Canada:<\/b> No Data<br \/>\n<b>Japan:\u00a0<\/b>No Data<\/p>\n<p><b>GBP\/EUR plummets on surge in Eurozone debt<\/b><\/p>\n<p>GBP\/EUR pair traded on a mixed note on Monday despite news coming in from the Eurozone that governmental debt across the seventeen nation euro area surged to 92.2 per cent during the first three months of 2013. This was a sharp jump from the 88.2 per cent level maintained in Q4 2012. The news renewed fears amongst investors holding euro-denominated assets that the region\u2019s sovereign debt crisis is not yet at an end. GBP\/EUR pair therefore failed to gain any significant ground in the aftermath of the release of this news and has held consistently below the 1.1650 level throughout the session.<\/p>\n<p><b>EUR\/USD up for action ahead of spate of Eurozone data releases<\/b><\/p>\n<p>Analysts indicated on Monday that the Euro rate market is being pricing significantly higher rates in 12 months&#8217; time, by which it is expected that the ECB will have eased further. The European crisis isn&#8217;t getting markedly worse according to analysts forecasts, as the ECB is still maintaining a wedge between the market and the underlying economic situation.<\/p>\n<p><b>US markets open higher amidst earnings season<\/b><\/p>\n<p>The US stock market opened higher early on Tuesday, with the S&amp;P eyeing heights of 1700 points as earnings data release season continues. In the United States, the Housing Price Index (MoM) grew by 0.7 per cent in May, against expectations of\u00a0 an increase by 0.8 per cent while the Redbook Index (MoM) (July 14) climbed by 0.9 per cent, compared with a result of an increase by 0.8 per cent previously. Finally, the Redbook Index (YoY) (July 14) was reported at 3.3 per cent, relative to increase of 3.0 per cent previously. With regards to equities the NASDAQ rose by 0.16 per cent as it settles in region of 3606.16, up +5.80 points in these moments. In addition, the S&amp;P 500 is trading in positive territory, operating at 1697.91, ascending +2.38 points or 0.14 per cent.<\/p>\n<p><b>USD\/JPY unable to recover to 100.00<\/b><\/p>\n<p>USD\/JPY pair traded at below the 100.00 barrier on Monday, unable to mount a recovery that would summit this key region. In the United States, the Chicago Fed National Activity Index (June) was reported at -0.13, missing expectations of 0.0. The USD\/JPY failed to consolidate below 61.8% correction at 99.90, as breaking this level is required to push the pair to the downside.<\/p>\n<p><b>Aussie bounces further away from 0.9 following China rate news<\/b><\/p>\n<p>AUD\/USD pair continues to bounce further away from 0.90 following the, China bank lending floor rate news last Friday. Second thoughts about an RBA rate cut in early August, will now be most likely at the mercy of Australian CPI data due early on July 24.<\/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 22nd\u00a0of July.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: GBP\/EUR plummets on surge in Eurozone debt EUR\/USD up for action ahead of spate of Eurozone data releases US markets open higher amidst earnings season USD\/JPY unable to recover to 100.00 Aussie bounces further away from 0.9 following China [&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\/3009"}],"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=3009"}],"version-history":[{"count":2,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/3009\/revisions"}],"predecessor-version":[{"id":3011,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/3009\/revisions\/3011"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=3009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=3009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=3009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}