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Pound, Euro, US Dollar and Canadian Dollar Exchange Rate Forecasts & GBP EUR USD CAD Predictions 2015

September 24, 2014 - Written by John Cameron

Leading analysts set out their foreign exchange forecasts for the Pound Sterling (currency:GBP) vs euro (currency:EUR), US Dollar (currency:USD) and Canadian Dollar (currency:CAD) exchange rates below.

The POUND STERLING (currency:GBP) gained ground against nearly all of the other sixteen most actively traded global currencies during yesterday’s session. The latest official figures showed that British government borrowing stood at over £10bn last month; however, as always with the markets, it was all relative – the data was less bad than analysts had anticipated so Sterling strengthened as a result. Thursday’s UK average earnings numbers represent the next risk event of note for the Pound which is now forecast to trade with a NEUTRAL TO POSITIVE bias moving forward.

The Pound Sterling to Australian Dollar exchange rate is trading up +0.75% at 1.85674 GBP/AUD.
The Pound Sterling to Canadian Dollar exchange rate is trading up +0.13% at 1.81075 GBP/CAD.
The Pound Sterling to Euro exchange rate is trading up +0.17% at 1.27981 GBP/EUR.
The Pound Sterling to New Zealand Dollar exchange rate is trading up +1.61% at 2.05784 GBP/NZD.
The Pound Sterling to US Dollar exchange rate is trading down -0.05% at 1.63167 GBP/USD.

The EURO (currency:EUR) put in yet another poor showing during yesterday’s session following the publication of the latest Purchasing Managers Index survey of the euroland economy. The leading indicator of projected growth levels in the region showed at its lowest level since the end of last year, suggesting that, up to this point, European Central Bank President Mario Draghi’s expansionary monetary policy measures are failing. The outlook for the euro remains gloomy and analysts forecast that it will perform on a NEGATIVE footing into the medium term. The Pound Sterling euro exchange rate stands at 1.2740.

The US DOLLAR (currency:USD) continued to ease against the Pound and other major global tenders yesterday, sending the GBP USD exchange rate Northwards to 1.6414. A mildly disappointing PMI survey which showed that activity levels in the manufacturing sector of the American economy had remained the same as the previous month held back the Buck. Look out for today’s Mortgage Applications and New Home Sales data to provide Dollar-watchers with further direction on the likely timing of the next Federal Reserve interest rate hike. Analysts forecast that the Greenback will trade on a NEUTRAL footing moving forward.

Support for the CANADIAN DOLLAR (currency:CAD) slumped during yesterday’s afternoon session in the markets. The driver for move was a highly disappointing set of July Retail Sales figures which showed a monthly contraction in the level of Canadian shop sales. The Sterling Canadian Dollar exchange rate climbed to 1.8163 during late trading as a consequence and there could be further gains for the pair if this afternoon’s US New Home Sales data beats expectations, increasing the chances of a near-term Fed rate hike. The Loonie is forecast to trade with a NEUTRAL TO NEGATIVE bias in the short term.
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