Forecasts: Australian, Canadian & NZ Dollar Exchange Rate Predictions & Currency News Updates July 2014

July 16, 2014 - Written by John Cameron

STORY LINK Forecasts: Australian, Canadian & NZ Dollar Exchange Rate Predictions & Currency News Updates July 2014

Forecasts: Australian, Canadian & NZ Dollar Exchange Rate Predictions & Currency News Updates July 2014 The POUND STERLING (currency:GBP) has continued to hoover up support during today’s session following yesterday’s blockbusting UK inflation figures. News of another quarterly fall in domestic unemployment this morning increased the fair wind behind the UK unit and with British house prices still motoring forward, the future looks bright for Sterling.

Analysts forecast that the Pound Sterling will trade with a POSITIVE bias moving forward.

The AUSTRALIAN DOLLAR (currency:AUD)has held steady against Sterling today, meaning that the GBP AUD exchange rate currently trades at 1.8320.

Chinese GDP data for Q2, published overnight, revealed an unexpected increase in activity levels, providing some positive news for the Aussie.

Meanwhile, yesterday morning’s minutes of the most recent Reserve Bank of Australia policy meeting revealed that the Australian central bank expects a period of stable interest rates which will persist into the medium term.

The outlook for the Aussie is now NEUTRAL.

Support for the NEW ZEALAND DOLLAR (currency:NZD) slumped overnight following the publication of Consumer Prices Index data for Q2 which revealed that the rate of domestic price rises had only marginally increased to a year-on-year 1.6% during the second quarter of this year.

Analysts had been anticipating a higher reading, and the upshot means that investors now consider a near-term interest rate hike less likely.

The New Zealand Dollar exchange rate forecast is NEUTRAL TO NEGATIVE, with GBP NZD standsing at 1.9678.

The Pound continues to climb against the CANADIAN DOLLAR (currency:CAD), sending the GBP CAD exchange rate up to as high as 1.8504 earlier on.

The Bank of Canada announced that it would be holding its key interest rate at its current level of 1.00% a short time ago. However, the BoC’s accompanying statement, which predicted that domestic growth will be slower than had previously been anticipated, heaped pressure on the Loonie.

The Canadian Dollar forecast is now predicted to trade on a NEUTRAL TO NEGATIVE footing moving forward.

Updated New Zealand, Australian & Canadian Exchange Rates - 17/07/2014

The Pound Sterling to Australian Dollar exchange rate is trading down -0.23% at 1.82590 GBP/AUD.
The Pound Sterling to Canadian Dollar exchange rate is trading down -0.03% at 1.83975 GBP/CAD.
The Pound Sterling to New Zealand Dollar exchange rate is trading up +0.13% at 1.96924 GBP/NZD.

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