Good morning and welcome to today’s foreign exchange market commentary on 26th of July.
Here are MyCurrencyTransfer.com’s top 5 currency highlights:
- GBP/USD puts up modest show to close the week
- Analyst views on Euro suggest vulnerability to continue
- US equities close week on positive note
- USD/JPY back at sub-100
- USD/CAD does good business boosted by greenback
CURRENCY RATES OVERVIEW
GBP/EURO – 1.1587
GBP/USD – 1.5365
GBP/CHF – 1.4281
GBP/CAD – 1.5816
GBP/AUD – 1.6629
GBP/ZAR – 15.0484
GBP/JPY – 150.9844
GBP/HKD – 11.9197
GBP/NZD – 1.904059
GBP/SEK – 9.9547
Mid-market rates as of 2013-07-26 16:00 UTC
Key releases in the next 24 hours that may affect currency date:
Australia: No Data
Europe: EUR German Import Price Index (MoM) (JUN), EUR German Import Price Index (YoY) (JUN), EUR German Import Price Index (MoM) (JUN), EUR German Import Price Index (YoY) (JUN), EUR German Import Price Index (YoY) (JUN), EUR ECB Announces 3-Year LTRO Repayment
United Kingdom: No Data
New Zealand: No Data
United States of America: USD U. of Michigan Confidence (JUL F)
China: CNY MNI July Business Sentiment Indicator, CNY Industrial Profits YTD (YoY) (JUN)
Canada: No Data
Japan: No Data
GBP/USD puts up modest show to close the week
GBP/USD, pair was found to hover between 1.5373 and 1.5418 at the end of the week up ahead of the US markets open. GBP/USD rallied on Thursday in NY to gain back lost ground after the release of UK GDP when the pound initially dropped a big figure. Markets are not particularly supporting the pound on positive data and with that number coming in line with expectations.
Analyst views on Euro suggest vulnerability to continue
Analysts have indicated their views on the long-term outlook of the EUR as it concerns the bourgeoning string of political crises across the European continent. Key opinions suggest that several major economies will continue to remain vulnerable if rates rise sharply in the quarters ahead, but it is widely believed that the Euro Area currently has one of the lower thresholds for pain in this regard.
US equities close week on positive note
The US stocks market closed positive on Friday after recovering big losses in the previous session. The Dow Jones advanced by 3.22 points or 0.02% to finish the day at 15,558.83. On the week, the DJIA performed its fifth positive week in row after rising 0.1% since the last Friday’s close. The S&P 500 added 1.40 pts or 0.08% to 1,691.65. The INX declined 0.03% in the week. The Nasdaq rose 7.97 pts or 0.22% to close the week at 3,613.16. The Composite was 0.71% up on the weekly basis.
USD/JPY back at sub-100
The USD/JPY foreign exchange rate has recovered off of earlier lows that briefly touched below the 98.00 level during US trading Friday. At the time of writing the pair briefly rallied over this level
USD/CAD does good business boosted by greenback
USD/CAD touched solid grounds as price was held within 1.0270 and 1.0280 levels. The pair rallied on the back of a stronger greenback.
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