Pound, Euro, Dollar & Canadian Dollar - Latest Exchange Rate Forecasts & Currency Predictions for GBP EUR USD CAD

September 7, 2014 - Written by John Cameron

STORY LINK Pound, Euro, Dollar & Canadian Dollar - Latest Exchange Rate Forecasts & Currency Predictions for GBP EUR USD CAD

Currency News UK brings you our latest British Pound, Euro, Dollar & Canadian Dollar Exchange Rate Forecasts and Currency Predictions for GBP EUR USD CAD:

The POUND STERLING (currency:GBP) has given up ground against nearly all of the other sixteen most-actively traded global currencies so far today. Even a slight increase in the Bank of England / GfK Inflation Expectations report, published earlier, was not enough to provide any support for Sterling. While the threat of a vote in favour of an independent Scotland hangs over the Pound, it is unlikely to make any significant headway against the other major global tenders. Next Wednesday’s session provides a raft of tier one risk events for Sterling, with the latest Trade Balance, Industrial Production and Manufacturing Production data from the British economy.

In the meantime, expect the Pound Sterling forecast to trade with a NEUTRAL bias.

The following forex rates were correct at time of publish:

- The Pound Sterling to Australian Dollar exchange rate is 1.74044 GBP/AUD.
- The Pound Sterling to Canadian Dollar exchange rate is 1.77639 GBP/CAD.
- The Pound Sterling to Euro exchange rate is 1.26053 GBP/EUR.
- The Pound Sterling to New Zealand Dollar exchange rate is 1.95972 GBP/NZD.
- The Pound Sterling to US Dollar exchange rate is 1.63255 GBP/USD.

This afternoon’s US Non-Farm Payrolls data came out below expectations, causing a slight shift out of the US DOLLAR (currency:USD). The news caused investors to push back their expectations regarding the timing of the next interest rate hike from the US Federal Reserve, harming the Buck. However, the losses were limited by the fact that the overall unemployment for August, published at the same time, which showed a pronounced dip from the counterpart July figure.

The Dollar exchange rate forecast remains NEUTRAL TO POSITIVE.

The EURO (currency:EUR) enjoyed a slight recovery against the Pound Sterling during today’s session, following data which revealed that the eurozone’s premier economy posted a far stronger than anticipated set of July Industrial Production numbers. The data showed a healthy expansion of 2.5% in the level of German factory output – well ahead of June’s -0.4% showing. The single currency took a major hit yesterday with the European Central Bank’s announcement of Quantitative Easing. However, the losses it incurred could have been worse if the ECB had not delayed revealing the details of its easing policy until next month.

The outlook for the single currency remains bleak and analysts forecast that the euro will trade on a NEGATIVE footing moving forward.

The CANADIAN DOLLAR (currency:CAD) pushed ahead against the Pound during early trading today as the Commodity Dollars continued to move forwards thanks to yesterday’s news of the ECB’s Quantitative Easing programme. However, the Loonie has lost a little ground this afternoon following the publication of a slightly disappointing set of Canadian job generation numbers. However, the latest US labour market numbers, also published this afternoon, may cancel out the negative effect of the Canadian jobs numbers. A mildly disappointing set of American labour market numbers suggests that the Fed’s ‘easy money’ policy may continue, favouring the Loonie.

The outlook for the Canadian tender is now NEUTRAL TO POSITIVE.

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 Canadian Dollar Forecasts Currency Predict Forecasts