{"id":3037,"date":"2013-07-24T22:00:28","date_gmt":"2013-07-24T22:00:28","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=3037"},"modified":"2013-07-25T17:20:15","modified_gmt":"2013-07-25T17:20:15","slug":"gbpusd-dependent-on-upcoming-gdp-figures-for-q2","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/gbpusd-dependent-on-upcoming-gdp-figures-for-q2\/","title":{"rendered":"GBP\/USD dependent on upcoming GDP figures for Q2"},"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 24th\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 dependent on upcoming GDP figures for Q2<\/li>\n<li>EUR advances against most peers on positive data<\/li>\n<li>USD jumps on strong housing numbers<\/li>\n<li>USD\/JPY breaches 100.00 during quiet Asian session<\/li>\n<li>AUD\/USD establishes week long period of congestion<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0<\/b><\/p>\n<p><b>GBP\/EURO \u2013\u00a0<\/b>1.1616<br \/>\n<b>GBP\/USD \u2013\u00a0<\/b>1.5364<br \/>\n<b>GBP\/CHF \u2013\u00a0<\/b>1.4374<br \/>\n<b>GBP\/CAD \u2013\u00a0<\/b>1.5820<br \/>\n<b>GBP\/AUD \u2013\u00a0<\/b>1.6723<br \/>\n<b>GBP\/ZAR \u2013\u00a0<\/b>14.9822<br \/>\n<b>GBP\/JPY \u2013\u00a0<\/b>153.9982<br \/>\n<b>GBP\/HKD \u2013\u00a0<\/b>11.9191<br \/>\n<b>GBP\/NZD \u2013\u00a0<\/b>1.9340<br \/>\n<b>GBP\/SEK \u2013\u00a0<\/b>9.9802<\/p>\n<p><i>Mid-market rates as of 2013-07-24 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>AUD Consumer Prices Index (QoQ) (2Q), AUD Consumer Prices Index (YoY) (2Q)<br \/>\n<b>Europe:\u00a0<\/b>EUR German Purchasing Manager Index Manufacturing (JUL A), EUR German Purchasing Manager Index Services (JUL A), EUR Euro-Zone Purchasing Manager Index Manufacturing (JUL A), EUR Euro-Zone Purchasing Manager Index Services (JUL A), EUR Euro-Zone Purchasing Manager Index Composite (JUL A)<br \/>\n<b>United Kingdom:\u00a0<\/b>No Data<br \/>\n<b>New Zealand: <\/b>NZD Reserve Bank of New Zealand Rate Decision (JUL 25)<br \/>\n<b>United States of America:\u00a0<\/b>USD Markit US PMI Preliminary (JUL), USD New Home Sales (MoM) (JUN)\u00a0\u00a0\u00a0\u00a0\u00a0 <b><\/b><br \/>\n<b>\u00a0China:<\/b> CNY HSBC Flash Manufacturing PMI (JUL)<br \/>\n<b>Canada:<\/b> No Data<br \/>\n<b>Japan:\u00a0<\/b>JPY Japan Buying Foreign Bonds (Yen) (JUL 19), JPY Japan Buying Foreign Stocks (Yen) (JUL 19)<\/p>\n<p><b>GBP\/USD dependent on upcoming GDP figures for Q2<\/b><\/p>\n<p>The GBP\/USD foreign exchange rate is last quoted at 1.5326 ahead of key risk event which is the release of UK GDP for Q2 at 08:30 GMT. GBP\/USD pair is as of now dependent on UK GDP. Analysts predict that it could be a choppy trading session while the trend expected remains slightly bullish. The GDP will be the key driver for Sterling today and would suspect that a range of 1.5280\/1.5380 could be the region of action during the event.<\/p>\n<p><b>EUR advances against most peers on positive data<\/b><\/p>\n<p>Euro advances as Eurozone economic readings for the day come in on an optimistic note. With the exception of EUR\/ USD, the euro managed a positive close against all its most liquid counterparts. Though the medium-term outlook is still troubling for the shared currency, the market was delivered short-term relief in the form of growth related economic data and another snuffed fire in Greece. The first round Eurozone PMI activity figures for July printed unexpectedly strong numbers.<\/p>\n<p><b>USD jumps on strong housing numbers<\/b><\/p>\n<p>The US Dollar made a pronounced comeback against Sterling during the latter part of Wednesday\u2019s afternoon\u2019s session. The move saw the GBP\/ USD tumble to 1.5200 during the hours following the European equities close. Support for the Greenback was triggered by a highly positive set of US housing market figures which revealed a monthly jump of 8.3% in the number of new home sales in the States during the month of June.<\/p>\n<p><b>USD\/JPY breaches 100.00 during quiet Asian session<\/b><\/p>\n<p>Another quiet session in Asia-Pacific was observed on Wednesday for USD owing to no risk events taking place. USD\/JPY traded at 100.15, ahead of German Ifo at 08:00 GMT. Local share markets were observed to be slightly in the red all over the Asia-Pacific, with Korean Kospi and the Shanghai index still trying to break even, while the Nikkei index is down -0.41%.<\/p>\n<p><b>AUD\/USD establishes week long period of congestion<\/b><\/p>\n<p>The AUD\/USD pair established a weeks-long period of congestion following a significant decline, expectations that a 0.9300 breakout was at hand were high. There were two main economic indicators for the Aussie dollar. The country\u2019s 4Q CPI update was up first, and a recent shift in expectation for the RBA to ease up from its rate cut regime set a bullish bias. This was topped off by the weak Chinese manufacturing activity report for July that printed an 11-month low.<\/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 24th\u00a0of July.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: GBP\/USD dependent on upcoming GDP figures for Q2 EUR advances against most peers on positive data USD jumps on strong housing numbers USD\/JPY breaches 100.00 during quiet Asian session AUD\/USD establishes week long period of congestion CURRENCY RATES OVERVIEW\u00a0 [&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\/3037"}],"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=3037"}],"version-history":[{"count":1,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/3037\/revisions"}],"predecessor-version":[{"id":3038,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/3037\/revisions\/3038"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=3037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=3037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=3037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}