Euro, Pound, Dollar & Canadian Dollar - Exchange Rate Forecasts, 2015 Predictions and Conversion Rates for EUR GBP USD CAD

September 8, 2014 - Written by John Cameron

STORY LINK Euro, Pound, Dollar & Canadian Dollar - Exchange Rate Forecasts, 2015 Predictions and Conversion Rates for EUR GBP USD CAD

Please find below our Foreign Exchange Rate Forecasts (2014 / 2015) for the Euro (EUR), Pound Sterling (GBP), Dollar (USD) and Canadian Dollar (CAD) Conversion Rates and Exchange Rate Predictions for EUR GBP USD CAD.

The EURO (currency:EUR) has pushed ahead against Sterling so far today, sending the GBP EUR exchange rate down to an intraday low of 1.2437. Most of the downside for the pair was triggered by a sharp weakening of Sterling; however the impression grows that all of the bad news is now out for the single currency following last week’s announcement from the European Central Bank that it will be introducing Quantitative Easing in the euroland. A weak Sentix Investor Confidence survey of economic participants in the eurozone acted as a reminder that all is far from well with the single currency which is now forecast to trade on a NEUTRAL TO NEGATIVE footing moving forward.

The POUND STERLING (currency:GBP) has shed support against all of the other sixteen most actively traded global currencies since the markets re-opened yesterday evening. Yesterday’s poll result from YouGov found that, for the first time since campaigning began, the number of Scots intending to vote ‘Yes’ to independence now outnumbered the supporters of the ‘Better Together’ campaign. A decision by Scotland to break away from the rest of Britain next week would decimate the level of UK economic activity, causing the value of the Pound to plummet. For this reason, the outlook for Sterling is NEUTRAL TO NEGATIVE.

The US DOLLAR (currency:USD) pushed ahead against Sterling today as investors continued to be that the next policy decision from the US Federal Reserve will be an interest rate hike and that this move is not far off. The highlight for the Buck in the near-term comes on Thursday with the weekly domestic labour market numbers. Meanwhile, Friday’s Michigan Confidence survey and the latest US Advance Retail Sales figures are likely to be market-moving. In the short term, analysts predict that the Greenback will perform on a NEUTRAL TO POSITIVE footing and the current GBP USD exchange rate stands at 1.6146.

A stronger than anticipated showing from this afternoon’s Canadian Building Permits data has provided the CANDIAN DOLLAR (currency:CAD) with a boost. The news provides grounds for encouragement that Canada’s housing market is moving forward once more, making an interest rate hike from the Bank of Canada a move likely prospect. However, the Loonie has come a long way in a short space of time against the other major currencies and while the Bank of Canada’ policy outlook remains neutral, a renewed move out of CAD-denominated assets remains a live possibility. In the meantime, the Loonie is likely to put in a NEUTARL showing in the markets and the GBP CAD exchange rate stands at 1.7672.

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