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

September 12, 2014 - Written by John Cameron

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

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

The EURO (currency:EUR) remains vulnerable in the currency markets thanks to the European Central Bank’s continuing loosening of its monetary policy. With the euroland’s reserve bank beginning its own version of Quantitative Easing next month, the future prospects for the single currency remain bleak. A relatively strong showing from this morning’s whole of eurozone unemployment data will be required for the euro to enjoy any near-term support.

In the meantime, analysts forecast that the euro will trade on a NEGATIVE footing moving forward.

The following forex rates were correct at time of publish:

- The Pound to Australian Dollar exchange rate is trading up +0.47% at 1.79479 GBP/AUD.
- The Pound to Canadian Dollar exchange rate is trading up +0.18% at 1.79675 GBP/CAD.
- The Pound to Euro exchange rate is trading up +0.07% at 1.25830 GBP/EUR.
- The Pound to New Zealand Dollar exchange rate is trading up +0.07% at 1.98725 GBP/NZD.
- The Pound to US Dollar exchange rate is trading up +0.08% at 1.62614 GBP/USD.

The POUND STERLING (currency:GBP) has largely recovered from its post-weekend wobble. The down-selling of Sterling at the start of the week was driven by Sunday’s YouGov poll which suggested that the pro-independence vote might be about to win the day in the Scottish independence referendum next week.

Sterling-holders’ nerves were steadied by yesterday’s opinion poll which found that the ‘No’ campaign was once again leading.

The outlook for the Pound Sterling forecast now is NEUTRAL TO POSITIVE.

The US DOLLAR (currency:USD) could experience some volatility during this afternoon’s session.

The latest Advance Retail Sales data is due for release at 1330hrs today and investors holding Dollar-denominated assets will be hoping for a relatively strong showing from this month’s Michigan Sentiment Index, released shortly afterwards, in order to trigger renewed support for the Greenback.

Yesterday brought a day of gains for the GBP USD exchange rate, adding to the feeling that the Buck’s recent improvement against the Pound is now running out of steam.

The dollar exchange rate forecast is now NEUTRAL

The CANADIAN DOLLAR (currency:CAD) has endured a double blow this week with the publication of a brace of disappointing domestic data sets.

A lower than anticipated set of July Housing Starts figures, released on Tuesday, hurt the Loonie and yesterday’s below par House Price Increase numbers rubbed salt into the wound.

There would appear little prospect that the Bank of Canada will countenance an interest rate hike any time soon given the data, so analysts now predict that the Loonie will trade on a NEUTRAL bias moving forward. The GBP CAD exchange rate stands at 1.7921.

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