Currency News

Daily Exchange Rate Forecasts & Currency News

Forecasts: Pound, Dollar, Euro & New Zealand Dollar - Latest Exchange Rates Outlook & Predictions 2014

September 1, 2014 - Written by John Cameron

Our latest 2014 / 2015 exchange rate forecast for the Pound Sterling (GBP), Euro (EUR), US Dollar (USD) and New Zealand Dollar (NZD) FX rates.

It was a good news / bad news morning for the POUND STERLING (currency:GBP). On the credit side, (literally), the latest official figures from the bank of England revealed that consumer borrowing had jumped by over £1bn during July. Previous economic upturns have been fuelled by large expansions in British household credit, so the news will be music to the ears of the UK’s policymakers. However, a survey revealing that activity levels in the domestic manufacturing sector grew at their slowest level for over a year anchored the Pound.

The Pound Sterling forecast to perform on a NEUTRAL TO POSITIVE footing in the near-term.

- The Pound to Australian Dollar exchange rate is trading up +0.03% at 1.77890 GBP/AUD.
- The Pound to Canadian Dollar exchange rate is trading up +0.04% at 1.80541 GBP/CAD.
- The Pound to Euro exchange rate is trading up +0.11% at 1.26522 GBP/EUR.
- The Pound to New Zealand Dollar exchange rate is trading down -0.21% at 1.98200 GBP/NZD.
- The Pound to US Dollar exchange rate is trading up +0.17% at 1.66183 GBP/USD.

The EUR (currency:EUR) continued to leak support during this afternoon’s session as investors priced-in a high likelihood that the European Central Bank will hint at a renewed loosening of its monetary policy on Thursday. This morning’s whole of eurozone survey of the region’s manufacturing sector heaped the pressure on the single currency, suggesting that activity levels in this key element of the regional economy slowed by a greater than anticipated amount last month. The release is likely to increase the clamour on the ECB to introduce Quantitative Easing.

The euro exchange rate forecast remains NEGATIVE.

Advertisement
The US DOLLAR (currency:USD) has had a decent run against the other major global currencies since the start of Summer. The move had brought seven successive weeks of gains for the Buck against the Pound leading up to last week. However, a week-on-week gain for the GBP USD exchange rate last week suggests that the downward move is now running out of momentum for the pair. Tomorrow afternoon’s ISM survey of America’s vast manufacturing sector is the next risk event of note for the Greenback;

In the meantime, the dollar outlook is forecast to trade with a NEUTRAL bias.

The NEW ZEALAND DOLLAR (currency:NZD) has incurred renewed downside during today’s session following the publication of a closely-watched data set from China. The August edition of the PMI survey of the key manufacturing sector of New Zealand’s number one trading partner disappointed, printing at 51.1 versus expectations of a showing of 51.3. Meanwhile, the Reserve Bank of New Zealand’s decision to pause its interest rate hiking cycle continues to anchor the Kiwi Dollar. The outlook for the New Zealand unit is now NEUTRAL and GBP NZD stands at 1.9822.
Like this piece? Please share with your friends and colleagues:

International Money Transfer? Ask our resident FX expert a money transfer question or try John's new, free, no-obligation personal service! ,where he helps every step of the way, ensuring you get the best exchange rates on your currency requirements.


TAGS: American Dollar Forecasts Currency Predictions Dollar Poun Forecasts

Comments are currrently disabled