Tag: pound

Yuan officially included in IMF’s basket of reserve

Yuan officially included in the IMF’s basket of reserve currencies

Chinese currency is officially incorporated on October 1, in the basket of reserve currencies International Monetary Fund (IMF), along with the dollar, euro, yen and British pound. Yuan will have the weight of the basket is almost 11% against 42% in dollars and 31% in euros, according to data on the IMF website. On the base of the basket is calculated SDR exchange rate, IMF currency in which loans and calculated member countries of the organization quotas.

The decision to include the yuan in the basket fund has taken in the last year, taking into account the increasing role of the Chinese currency in international trade and financial system. In particular, one third of all China’s foreign trade is carried out in yuan, a number of central banks have incorporated it into their reserves (although the overall share of the Chinese currency in global reserves are still minimal).

The last time the basket of currencies the IMF changed in 1999, when it was incorporated euros.

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Confederation of British IndustryCBI Index of

The Confederation of British Industry / CBI /: Index of industrial production in November 24 against 13 in October

UK manufacturers expect a sharp rise in selling prices over the next three months as a weaker British pound has pushed up the purchase price. On Tuesday he told the Confederation of British Industry (CBI).

According to the report, the index of price expectations of manufacturers in November rose to 19, its highest level in nearly three years. This index reflects the percentage of respondents expecting a rise in prices against those who expect their fall.

Production growth for the three months September-November slowed for the third month in a row, but the expectations of manufacturers in respect of the following quarter increased, partly due to the level of export orders, which were above average. The CBI surveyed 430 companies during the period from October 26 to November 11.

"Weak pound begins to exert its influence"- says Rhine Newton-Smith, chief economist at the CBI. A weaker pound, which has lost nearly a fifth of its value against the US dollar since the UK voted in favor of withdrawal from the EU, raises import prices, but promotes exports as it makes British goods cheaper to overseas buyers.

Some economists fear that the rise in import prices will lead to an acceleration of consumer inflation, as consumers moderate their spending, which will hurt growth prospects in the UK.

But as long as this is indicated by small signs, and consumer price inflation in October fell slightly from the nearly two-year high reached in the previous month. Meanwhile, retail sales compared with the same period last year, grew in October at the fastest pace in nearly 15 years, as British buyers are buying winter hats and coats, as well as goods intended for Halloween.

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TD Securities predict rise in pair GBPUSD

The TD Securities predict a rise in the pair GBP / USD

The TD Securities note "the increased likelihood of more prolonged reduction of short positions" the pair GBP / USD, since the gain of the US currency after the US presidential election, "apparently coming to an end".

The company added that "recommend short-term long positions on the pair GBP / USD with a target level at 1.2674 support level 1.2365". At the same time continues to believe in the TD, that "pound prospects generally remain negative".

At the time of writing, the pair GBP / USD is trading at 1.2429.

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Brexit still possible to cancel

Brexit still possible to cancel?

EP President Antonio Tajani yesterday after a meeting with British Prime Minister Terezy Mey said that the European Union will be happy to take Britain back if after the parliamentary elections will be clear that the voters changed their minds. Moreover, a change of government does not even need a trial. According to him, all EU countries will support the decision of the new government if it decides to cancel Brexit. And, he also said several times that the veto the entire deal if the UK does not agree to the preservation of all the rights of EU citizens already living in the UK, and the British in Europe. In our view, therefore enable the British to think again carefully whether to still leave the EU. Hinted absolutely clear, give a specific call to action. So, June 8, we expect another strong leap rate of the pound sterling, but which way will depend on the British themselves. Voting for the government Terezy Mey, a second opportunity to stay in the EU can no longer be. Until 8 June is a high probability of the pound sterling cost growth, as the quotes usually grow on expectations of some important event. Once an opportunity to cancel the transaction at Brexit, it is already positive expectations, which do not necessarily have to be justified. The conclusion is very simple, as the old coaching adage – buy on expectations, sell the fact …

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Dollar falls against Euro during Asian session

Dollar falls against the Euro during the Asian session

During
Asian session, EUR ratio / USD
It has grown and is now traded at 1.3624
(+ 0.09%).

Probably, the pair found support at the level of
1.3574, which corresponds to a minimum
Monday and resistance until
is the level of 1.3652 – maximum
environment.

In addition, the Euro was up against
British Pound and down against the Japanese
Jena. Thus, the ratio of EUR / GBP rose
0.03% and reached 0.7996, and the pair EUR / JPY dropped to
138.18 (-0.21%).

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Pound fell after trade data from United Kingdom

The pound fell after the trade data from the United Kingdom

The pound fell against the dollar to session lows after the publication of the data, which showed that Britain’s trade balance deficit unexpectedly increased in May.

Now the pair GBP / USD is trading at 1.7119 (day before the data was 1.7134).

Probably will couple
support at Tuesday’s low and 1.7084
resistance at a session high of
1.7166.

The Office for national
Statistics reported that the deficit
UK trade balance in May
increased to? 9.2 billion from the deficit? 8.81
billion in April. economists forecast
deficit? 8.75 billion.

At the same time, exports
rose by 0.6% to? 24.1 billion, while
imports grew by 1.7% – to 33.3 billion?.

Sterling was also lower
against the euro, EUR / GBP pair rose
0.17% to 0.7964.

Today in the euro area
data showed that industrial
production in France, Italy and
Holland fell in May. Data
added to concerns over the outlook for
Economic growth in the region.

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Rusty gold big and small

Rusty, gold, big and small

On Wednesday, the department
New York Mercantile Exchange’s Comex
futures for the December
Gold traded at $ 1.291,00
per ounce. Gold was likely to find
support and $ 1.281,00
resistance at $ 1.298,40.

USD index, which
It tracks the greenback against
a basket of six other major currencies,
changed by 0.03% and traded at
$ 81.62.

Schedule for gold now looks like this:

Rusty gold big and small

Index Silver
changed by 0.20% and traded at
$ 19.873 per ounce, while the index on
copper changed by 0.01% and traded
at $ 3,201 per pound.

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Euro again approaching their lows

Euro again approaching their lows

AT
Thursday, the euro ceased to increase in
against the US dollar (at least the minimum,
but in the morning he was) and then moves in
face 11-month lows. German
Consumer Price Index, which
was released today, this month
It provides appropriate expectations.
During the day the EUR / USD dropped
from 1.3220 to 1.3183 (it is 0.08%). Support for the pair
It is expected at 1.3153 and resistance
– at 1.3243.

disappointing
Statistics released by the statistics on
Unemployment in the eurozone. For example, in Germany
the number of unemployed rose by 2000
But it predicted a decline of
5000.

Euro
and fell against the pound: EUR / GBP
It lost 0.16%.

Today
the financial world still awaits data from
US GDP growth in the second quarter – an important
macroeconomic indicator that
It reflects much of the country.

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GBPUSD Pound is stable at least 11 months

GBP / USD: The Pound is stable at least 11 months

On Monday afternoon a couple
GBP / USD It is evaluated as stable, lb
It is trading near 11-month low
against the dollar. positive data
of US jobs, published
Friday, increased the likelihood of early
Fed raising interest rates.

GBP / USD pair is trading
now at 1.5971, slightly higher
Friday’s low of 1.5950 (at least with
November 2013).,

On Friday, reports emerged
US Department of Labor, in which
It reported that the economy added
248 thousand., As jobs in September
It predicted only 215 thousand. Thus,
unemployment rate decreased from 6.0% to
5.9%.

Meanwhile, the pound fell
against the euro and the pair EUR / GBP now traded
at the level of 0.7852, slightly above 0.7835
(Friday level).

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Sell ​​ruble to buy pound

Sell ​​ruble to buy a pound

Monday
It was pretty quiet, despite the publication of a series of business reports
Activity in the manufacturing sector and the service sector. It is worth noting that
indicators in general were higher than forecasts, and in China, and Europe. but
we have to admit that the Chinese PMI reached a six-month low and still
It remains below the level of 50-item, which indicates a further cooling
economy. Surprisingly, even a fairly strong UK data could not
just give GBP / USD pulse to rise, but the second approach couple all
It is able to pass 1.44 and touch 1.4444. In addition, it is worth noting a sharp jump
demand for New Zealand kiwi on triggering stops – NZD / USD grown
to 0.6556.

stock
indexes under pressure again, although the US benchmarks were still able to go to the
a plus. Commodity markets have played a significant role, as again hit
under pressure. Brent down below 34.00 dollars. / bbl. WOlot
has grown to $ 1129 per ounce.
Continued on site GK FOREX CLUB

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