2015 Exchange Rate Forecasts for Pound, Euro, NZ + US Dollar & Swiss Franc Currency Analysis & Predictions

August 21, 2014 - Written by John Cameron

STORY LINK 2015 Exchange Rate Forecasts for Pound, Euro, NZ + US Dollar & Swiss Franc Currency Analysis & Predictions

Today our foreign exchange analysts set out the latest currency predictions for the future performance of the Pound Sterling (GBP), Euro (EUR), US Dollar (USD) and Swiss Franc FX pairings (CHF).

Exchange rates are valid as of last article update: 22/08/2014 (13:00 GMT)

The POUND STERLING (currency:GBP) has once again lost ground against all of the other sixteen most actively traded global currencies on the day today. The driver behind the fresh downside for the Pound proved to be this morning’s domestic Retail Sales numbers which revealed a significantly lower than anticipated level of shop sales during the month of July. The outlook for the Pound Sterling is now NEUTRAL in spite of the mid-week revelation that two of the Bank of England’s nine-man committee had voted for an interest rate increase.

- The Pound Euro exchange rate is trading up +0.06% at 1.24925 GBP/EUR.
- The Pound Dollar exchange rate is trading down -0.01% at 1.65764 GBP/USD.

Stronger than anticipated weekly job creation and Initial Jobless Claims data, out in the States a short time ago, have helped the US DOLLAR (currency:USD) so far today. An encouraging set of US Existing Homes data, also out this afternoon, have added to the impression that America’s economic recovery is gaining momentum and that the Federal Reserve may be able to raise interest rates sooner rather than later. The GBP/USD is now forecast to trade with a NEUTRAL TO POSITIVE bias in the short term.

- The US Dollar to Euro exchange rate is trading up +0.07% at 0.75363 USD/EUR.
- The US Dollar to Pound exchange rate is trading up +0.01% at 0.60327 USD/GBP.

The EURO (currency:EUR) has come under renewed selling pressure this afternoon following a worse than expected reading from the latest whole of eurozone Consumer Confidence survey. The print of -10.0 versus an expected -9.1 suggests that economic participants in the euro area do not feel that the European Central Bank is doing enough to kick start the regional economy just yet. With ECB President Mario Draghi addressing the Jackson Hole economic symposium on Saturday, the current problems for the single currency are likely to continue. It appears improbable that the ECB Chief will be able to dodge questions on Quantitative Easing for the euroland meaning that the GBP/EUR is forecast to trade on a NEGATIVE footing moving forward.

- The Euro to Pound exchange rate is trading down -0.06% at 0.80048 EUR/GBP.
- The Euro to US Dollar exchange rate is trading down -0.07% at 1.32691 EUR/USD.

The SWISS FRANC (currency:CHF) has been supported by a strong set of July Trade Balance data, published this morning. The Swiss tender received an additional boon when the June version of the closely-monitored import/export figure was upwardly adjusted to CHF1.41bn. However, the Franc has lost much of its lustre as a safe haven currency since the Swiss National Bank pegged the EUR/CHF exchange rate at 1.2000. The latest Swiss unemployment numbers, due for publication a week tomorrow, represent the next risk event of note for the Franc. In the meantime, the GBP/CHF is predicted to perform on a NEUTRAL footing.

- The Swiss Franc to Euro exchange rate is trading up +0.05% at 0.82646 CHF/EUR.
- The Swiss Franc to Pound exchange rate is trading down -0% at 0.66157 CHF/GBP.

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TAGS: American Dollar Forecasts Currency Predictions Dollar Poun Forecasts