Foreign Exchange Insight: GBP USD Poised ahead of Jackson Hole Symposium EUR Gains on Hope For Stability
26 Aug 2011 at 9 AM - Written by John Cameron
The Pound Euro exchange rate (GBP EUR) is 1.1305. The Pound Dollar exchange rate (GBP USD) is 1.6324. The Pound Australian Dollar exchange rate (GBP AUD) is 1.5550.
The pound sold off yesterday against most of the world's most actively traded currencies with CBI figures showing a slowing in demand in the UK economy. This has not helped in setting the tone into trade this morning with the headline Q2 GDP revised figures due for release today.
The UK Q2 GDP figures are not expected to be altered and will serve as a harsh reminder that the outlook for the UK economy is still bleak with any chance of the BOE raising interest rates being highly unlikely until the latter part of 2012.
The Jackson Hole Economic Symposium will take centre stage today as markets attempt to second guess whether Bernanke will hint at a requirement for further stimulus for the US economy. A third round of Quantitative Easing could help speed up the US economic recovery however is looking increasingly unlikely with markets buying into the USD aggressively yesterday.
It is somewhat unlikely that Bernanke will use the QE3 terminology at the Jackson Hole Economic Symposium, this would adversely affect the markets, more likely is that Bernanke may comment on aid packages to improve the functioning of struggling asset classes, fortifying liquidity and boost growth.
Markets will pay close attention to comments made from both key speakers Bernanke and Jean Claude Trichet. Traders will be looking for reassurance over financial stability in markets that have been dominated by uncertainty in the past couple of weeks. It is clear that conditions are worsening in the Eurozone and with ECB president Trichet attending some might hope for talks of a co-ordinated effort to try and resolve the current global instability.
For other live currency exchange rates and a currency converter see the currency news website.
Foreign Exchange Insight: GBP USD Poised ahead of Jackson Hole Symposium EUR Gains on Hope For Stability
The pound sold off yesterday against most of the world's most actively traded currencies with CBI figures showing a slowing in demand in the UK economy. This has not helped in setting the tone into trade this morning with the headline Q2 GDP revised figures due for release today.
The UK Q2 GDP figures are not expected to be altered and will serve as a harsh reminder that the outlook for the UK economy is still bleak with any chance of the BOE raising interest rates being highly unlikely until the latter part of 2012.
The Jackson Hole Economic Symposium will take centre stage today as markets attempt to second guess whether Bernanke will hint at a requirement for further stimulus for the US economy. A third round of Quantitative Easing could help speed up the US economic recovery however is looking increasingly unlikely with markets buying into the USD aggressively yesterday.
It is somewhat unlikely that Bernanke will use the QE3 terminology at the Jackson Hole Economic Symposium, this would adversely affect the markets, more likely is that Bernanke may comment on aid packages to improve the functioning of struggling asset classes, fortifying liquidity and boost growth.
Markets will pay close attention to comments made from both key speakers Bernanke and Jean Claude Trichet. Traders will be looking for reassurance over financial stability in markets that have been dominated by uncertainty in the past couple of weeks. It is clear that conditions are worsening in the Eurozone and with ECB president Trichet attending some might hope for talks of a co-ordinated effort to try and resolve the current global instability.
For other live currency exchange rates and a currency converter see the currency news website.
TAGS: American Dollar Forecasts Daily Currency Updates Euro Forecasts Pound Dollar Forecasts Pound Euro Forecasts Pound Sterling Forecasts
Leave a Comment
Related Stories:
- Kiwi Dollar Claws Back Ground in the Currency Markets as Stock Markets Register Gains - May 21, 2012
- Swiss Franc Expected To Weaken With Euro As Greek Fears Refuse To Dissipate - May 18, 2012
- Daily Rate Predictions For The US Dollar, Euro, Pound Sterling and Japanese Yen - May 17, 2012
- Today’s Rate Forecasts For The Pound Sterling, Euro, US Dollar and Australian Dollar - May 16, 2012
- Exchange Rate Predictions For The Pound Sterling, Euro, US Dollar and Hong Kong Dollar - May 15, 2012
- Currency Exchange Rate Forecasts For The Euro, Pound Sterling, US Dollar and Turkish Lira For Today - May 14, 2012
- Today’s Currency Exchange Rate Predictions For The Euro, Pound Sterling, US Dollar and Arab Emirates Dirham - May 11, 2012
- Pound US Dollar Exchange Rate Recovers Slightly As Greek Anti-Bail-Out Power Bid Fails - May 10, 2012
- Daily Exchange Rate Predictions For The Euro, Pound Sterling, US Dollar and Indian Rupee - May 9, 2012
Latest News:
- Kiwi Dollar Claws Back Ground in the Currency Markets as Stock Markets Register Gains - May 21, 2012
- Official Confirms That EC and ECB Are Drawing Up Plans For Greece’s Eurozone Exit, Yet GBP EUR Rate Drops - May 21, 2012
- Swiss Franc Expected To Weaken With Euro As Greek Fears Refuse To Dissipate - May 18, 2012
- Spanish Bond Yields Soar As Investors Fear Hard Default By Greece - May 18, 2012
- Daily Rate Predictions For The US Dollar, Euro, Pound Sterling and Japanese Yen - May 17, 2012
- Australian and New Zealand Dollars Weaken Again As Bank of England Slashes UK Growth Forecast - May 17, 2012
- Today’s Rate Forecasts For The Pound Sterling, Euro, US Dollar and Australian Dollar - May 16, 2012
- Pound Euro Exchange Rate Spirals As Greece Heads For Second General Election - May 16, 2012
- Exchange Rate Predictions For The Pound Sterling, Euro, US Dollar and Hong Kong Dollar - May 15, 2012
- Pound Euro Exchange Rate Breaches 1.2500 For First Time Since 2008 As Greek Debt Fears Heighten - May 15, 2012
Daily Market Updates
Major Currency Forecasts
- Pound Sterling Forecast
- Euro Forecast
- American Dollar Forecast
- Australian Dollar Forecast
- Japanese Yen Forecast
- Swiss Franc Forecast
- New Zealand Dollar Forecast
- Canadian Dollar Forecast
- Norwegian Krone Forecast
- South African Rand Forecast
- Indian Rupee Forecast
- Singapore Dollar Forecast
- UAE Dirhams Forecast
- Turkish Lira Forecast
- Hong Kong Dollar Forecast
Currency Pairs
- Pound Euro Forecast
- Pound Dollar Forecast
- Pound Australian Dollar Forecast
- Pound Yen Forecast
- Pound Swiss Franc Forecast
- Pound NZ Dollar Forecast
- Pound Canadian Dollar Forecast
- Pound Krone Forecast
- Pound Rand Forecast
- Pound Rupee Forecast
- Pound Sing Dollar Forecast
- Pound Dirham Forecast
- Pound Lira Forecast
- Pound HK Dollar Forecast
