{"id":3061,"date":"2013-07-29T22:00:05","date_gmt":"2013-07-29T22:00:05","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=3061"},"modified":"2013-07-31T05:09:39","modified_gmt":"2013-07-31T05:09:39","slug":"global-markets-await-feds-latest-move-on-tapering","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/global-markets-await-feds-latest-move-on-tapering\/","title":{"rendered":"Global markets await Fed\u2019s latest move on tapering"},"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 29th\u00a0of July.<b>\u00a0<\/b><\/p>\n<p><b>Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights:<\/b><\/p>\n<ul>\n<li>Sterling volatility due on Thursday<\/li>\n<li>EUR\/USD dips consistently on Friday<\/li>\n<li>Global markets await Fed\u2019s latest move on tapering<\/li>\n<li>USD\/JPY breaches 98.00 during American trading<\/li>\n<li>AUD\/USD under pressure once again from RBA rate cuts, disappointing data<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0<\/b><\/p>\n<p><b>GBP\/EURO \u2013\u00a0<\/b>1.1578<br \/>\n<b>GBP\/USD \u2013\u00a0<\/b>1.5352<br \/>\n<b>GBP\/CHF \u2013\u00a0<\/b>1.4293<br \/>\n<b>GBP\/CAD \u2013\u00a0<\/b>1.5752<br \/>\n<b>GBP\/AUD \u2013\u00a0<\/b>1.6672<br \/>\n<b>GBP\/ZAR \u2013\u00a0<\/b>15.0337<br \/>\n<b>GBP\/JPY \u2013\u00a0<\/b>150.2159<br \/>\n<b>GBP\/HKD \u2013\u00a0<\/b>11.9096<br \/>\n<b>GBP\/NZD \u2013\u00a0<\/b>1.9137<br \/>\n<b>GBP\/SEK \u2013\u00a0<\/b>9.9410<\/p>\n<p><i>Mid-market rates as 2013-07-29 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>GBP Mortgage Approvals (JUN), GBP Net Consumer Credit (JUN)<br \/>\n<b>New Zealand: <\/b>No Data<br \/>\n<b>United States of America:\u00a0<\/b>USD Pending Home Sales (YoY) (JUN)<br \/>\n<b>China:<\/b> No Data<br \/>\n<b>Canada:<\/b> No Data<br \/>\n<b>Japan:\u00a0<\/b>JPY BoJ Governor Kuroda Speaks at Research Institute of Japan, JPY Household Spending (YoY) (JUN), JPY Jobless Rate (JUN), JPY Industrial Production (YoY) (JUN P)<\/p>\n<p><b>Sterling volatility due on Thursday<\/b><\/p>\n<p>The GBP struggled to assert itself against the other major global currencies during recent weeks in spite of encouraging UK Q2 GDP figures and better than anticipated advance indicators. Now that further QE measures appears off the menu for Britain\u2019s economy, a slightly more positive \u2018forward guidance\u2019 statement from the Bank of England\u2019s monetary policy committee on Thursday could see Sterling advancing once more.<\/p>\n<p><b>EUR\/USD dips consistently on Friday<\/b><\/p>\n<p>The EUR\/USD pair consistently drifted lower during Friday\u2019s session reaching a low of 1.3252. EUR\/USD should move Tuesday as key CPI data is due to be released. EUR\/USD trading will be watchful of German consumer confidence, Spain\u2019s GDP, Eurozone consumer confidence and Germany\u2019s CPI data all before the US session starts Tuesday.<\/p>\n<p><b>Global markets await Fed\u2019s latest move on tapering<\/b><\/p>\n<p>Nervous global markets waited for news from the US Federal Reserve and the new Labor Department unemployment data to be released on Friday as improved data from Europe boosted European equity markets and raised the euro against the USD while the dollar regained footing against the yen. Markets appear edgy about what Federal Reserve Chairman Ben Bernanke will announce regarding the possible tapering of the current stimulus. With unfavorable growth in GDP expected and with modest gains of about 185,000 new jobs expected, impetus for the Fed to alter policy significantly was felt to be lacking.<\/p>\n<p><b>USD\/JPY breaches 98.00 during American trading<\/b><\/p>\n<p>USD\/JPY pair recovered from daily lows and erased losses during the American session on Monday, as the USD strengthened across the board. USD\/JPY climbed to above the 98.00 level and reached a high of 98.33 before finding sellers and pulling back slightly.<\/p>\n<p><b>AUD\/USD under pressure once again from RBA rate cuts, disappointing data<\/b><\/p>\n<p>Following worse than expected Australian building permits data for 2013 and RBA Stevens comments suggesting the central bank might cut interest rates next week the Aussie has once again plummeted from above the 0.92 to a fresh 2-week low at 0.9063.<\/p>\n<p><i>Going on holiday? Compare travel money deals with our sister site mytravelmoney.co.uk<\/i><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sinduja Venkat Good morning and welcome to today\u2019s\u00a0foreign exchange market commentary on 29th\u00a0of July.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: Sterling volatility due on Thursday EUR\/USD dips consistently on Friday Global markets await Fed\u2019s latest move on tapering USD\/JPY breaches 98.00 during American trading AUD\/USD under pressure once again from RBA rate cuts, disappointing data CURRENCY RATES OVERVIEW\u00a0 GBP\/EURO [&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\/3061"}],"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=3061"}],"version-history":[{"count":1,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/3061\/revisions"}],"predecessor-version":[{"id":3062,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/3061\/revisions\/3062"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=3061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=3061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=3061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}