Exchange Rate Forecasts - Euro, Pound, Dollar & New Zealand Dollar 2014 Predictions & Conversions

September 17, 2014 - Written by John Cameron

STORY LINK Exchange Rate Forecasts - Euro, Pound, Dollar & New Zealand Dollar 2014 Predictions & Conversions

Our leading foreign exchange rate analysts forecast the short-term predictions for the Pound Sterling (GBP), euro (EUR), US Dollar (USD) and New Zealand Dollar (NZD) conversion rates in the near-term.

Yesterday’s German ZEW Index suggested that sentiment amongst economic participants has continued to slide this month, in spite of the European Central Bank’s announcement of further ultra-loose economic policies. The news held back the EURO (currency:EUR) yesterday afternoon; the single currency will receive further direction later this morning with the publication of Augusts’ whole of eurozone inflation numbers.

The euro rate forecast remains NEGATIVE.

The latest sterling conversion rates today (updated 18th sept 2014):

- The Pound to Australian Dollar exchange rate is trading up +0.15% at 1.81861 GBP/AUD.
- The Pound to Canadian Dollar exchange rate is trading up +0.11% at 1.79309 GBP/CAD.
- The Pound to Euro exchange rate is trading up +0.08% at 1.26707 GBP/EUR.
- The Pound to New Zealand Dollar exchange rate is trading down -0.11% at 2.00679 GBP/NZD.
- The Pound to US Dollar exchange rate is trading up +0.26% at 1.63095 GBP/USD.

The POUND STERLING (currency:GBP) edged lower during the first half of yesterday’s European equities session thanks to official figures which pointed to a slowing in the rate of price rises in the UK last month.

The Bank of England remains wary of any further drop in domestic inflation towards 0%, making the next British interest rate hike a more distant prospect following the data.

This morning’s domestic labour market numbers will provide Sterling-holders with further guidance, in the meantime the Pound is expected to trade on a NEUTRAL bias.

Today’s session could prove to be a defining one for the US DOLLAR (currency:USD).

Analysts suggest that the US Federal Reserve may opt to jettison its guidance on interest rates; previously the Fed has suggested that it will maintain its key lending rate at an ultra-low level for a ‘considerable time’.

However, recent American economic statistics have pointed to a strong recovery in the world’s number one economy. For this reason, the outlook for the Greenback is now NEUTRAL TO POSITIVE.

The NEW ZEALAND DOLLAR (currency:NZD) also faces a big 24hrs, with this evening bringing the publication of domestic Q2 GDP data.

Analysts expect the numbers to show that the Kiwi economy is expanding at an annualised 3.8% - a level which would be the envy of almost any other developed economy.

If the consensus prediction is correct, then expect the New Zealand unit to register renewed gains against the other sixteen most actively traded global currencies.

The near-term prospects for the New Zealand tender are now NEUTRAL TO POSITIVE.

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