Exchange Rate Forecasts for Pound, Euro, Australian Dollar & US Dollar Predictions - Outlook 2014 / 2015

August 8, 2014 - Written by John Cameron

STORY LINK Exchange Rate Forecasts for Pound, Euro, Australian Dollar & US Dollar Predictions - Outlook 2014 / 2015

Currency News UK - Exchange Rate Forecasts for the Pound Sterling, Euro, Australian Dollar, US Dollar Predictions and Outlook 2014 / 2015 - Support for the EUR (currency:EUR) wobbled during the middle part of yesterday’s session as investors holding the single currency digested the latest comments from ECB President Mario Draghi. The eurozone central bank chief stated that, ‘money credit dynamics remain weak, but there are better signs that are less bad than we are used to observing in past,’ suggesting that the flow of money into the euro area’s business may be starting to increase once more.

There’s little in the way of data releases to alter the euro’s path in the near-term, so Draghi’s admittance that he does not know how Russian sanctions on the euroland may play out is likely to hinder the euro moving forward.

The euro forecast remains NEGATIVE and the pound euro exchange rate stands at 1.2610 GBP/EUR.

The POUND STERLING (currency:GBP) barely broke into positive territory against any of the other sixteen most-actively traded global currencies during yesterday’s session.

The period of sideways trading for the Pound, which began over a week ago, appears to back-up last week’s assertion from the International Monetary Fund that Sterling is overvalued by up to 10%.

The Pound needs a better than anticipated showing from this morning’s UK Trade Balance numbers in order to ensure a strong finish to the week.

With analysts’ expectations for the print relatively low, the Pound Sterling forecast to trade with a NEUTRAL TO POSITIVE bias moving forward.

The AUSTRALIAN DOLLAR (currency:AUD) suffered a pronounced bout of selling pressure following yesterday’s dismal domestic jobs data, which showed that the overall rate of unemployment unexpectedly spiked to 6.4% in Oz last month.

The news sent the GBP AUD exchange rate up to as high as 1.8192 during early trading in Europe yesterday, and given the effect the release is likely to have on market participants’ expectations regarding the timing of the next Reserve Bank of Australia interest rate increase, the Aus Dollar forecast is NEUTRAL TO NEGATIVE.

The current Pound Australian Dollar exchange rate is 1.8155 GBP/AUD.

The US DOLLAR (currency:USD) had a middling sort of day yesterday, giving up a little ground against Sterling, but registering a small gain against the euro.

Yesterday afternoon’s weekly US jobs numbers proved to be a curate’s egg, with the Continuing Claims figure slightly disappointing, while the Initial Jobless Claims element providing grounds for encouragement.

This afternoon’s US data is of secondary importance, however geo-political tensions in Ukraine, Iraq and Gaza could see the Buck enjoy a renewed bout of support before the weekend. Analysts predict that the Greenback will trade on a NEUTRAL TO POSITIVE footing in the short term and the Pound Dollar exchange rate stands at 1.6844 GBP/USD.

Latest Pound Sterling, Euro & US Dollar Exchange Rates - 10/08/2014

The Pound Sterling to Australian Dollar exchange rate is trading up +0.02% at 1.80848 GBP/AUD.
The Pound Sterling to Canadian Dollar exchange rate is trading up +0.02% at 1.84057 GBP/CAD.
The Pound Sterling to Swiss Franc exchange rate is trading up +0.03% at 1.51920 GBP/CHF.
The Pound Sterling to Chinese Yuan exchange rate is trading up +0.03% at 10.32783 GBP/CNY.
The Pound Sterling to Czech Koruna exchange rate is trading up +0.06% at 34.87222 GBP/CZK.
The Pound Sterling to Euro exchange rate is trading up +0.05% at 1.25130 GBP/EUR.
The Pound Sterling to Hong Kong Dollar exchange rate is trading up +0.03% at 13.00390 GBP/HKD.
The Pound Sterling to Israeli Sheqel exchange rate is trading up +0.03% at 5.81903 GBP/ILS.
The Pound Sterling to Japanese Yen exchange rate is trading up +0.09% at 171.29777 GBP/JPY.
The Pound Sterling to Mexican Peso exchange rate is trading up +0.05% at 22.23153 GBP/MXN.
The Pound Sterling to Norwegian Krone exchange rate is trading down -0% at 10.45281 GBP/NOK.
The Pound Sterling to New Zealand Dollar exchange rate is trading up +0.02% at 1.98239 GBP/NZD.
The Pound Sterling to Polish Zloty exchange rate is trading up +0.03% at 5.25350 GBP/PLN.
The Pound Sterling to Swedish Krona exchange rate is trading down -0.01% at 11.57211 GBP/SEK.
The Pound Sterling to Singapore Dollar exchange rate is trading up +0.01% at 2.10039 GBP/SGD.
The Pound Sterling to Turkish Lira exchange rate is trading down -0.12% at 3.59229 GBP/TRY.
The Pound Sterling to US Dollar exchange rate is trading up +0.03% at 1.67763 GBP/USD.
The Pound Sterling to South African Rand exchange rate is trading up +0.11% at 17.90652 GBP/ZAR.

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