Today's Aus Dollar, NZ Dollar (AUD NZD) and SA Rand Exchange Rate Forecasts

October 7, 2014 - Written by John Cameron

STORY LINK Today's Aus Dollar, NZ Dollar (AUD NZD) and SA Rand Exchange Rate Forecasts

Currency news UK presents the exchange rate forecasts for the British Pound to Aus Dollar, the NZ Dollar and S.A. Rand conversion rates today.

Analysts predict that the Commodity Dollars (AUD NZD ZAR CAD) could be in for a rough ride in the global markets as we head towards the end of the year following the publication of a report from the World Bank yesterday.

For many years now China has been considered to be the ‘workshop of the world’ and the fortunes of export driven economies of Australia, New Zealand, South Africa and Canada have become increasingly dependent upon a strong continuing level of demand from Asia’s leading economic superpower in order to provide fuel for their own ‘economic miracle’.

The Pound Sterling to Australian Dollar exchange rate is trading down -0.19% at 1.82921 GBP/AUD.
The Pound Sterling to Euro exchange rate is trading up +0.33% at 1.27554 GBP/EUR.
The Pound Sterling to New Zealand Dollar exchange rate is trading up +0.15% at 2.05557 GBP/NZD.
The Pound Sterling to US Dollar exchange rate is trading down -0.11% at 1.60553 GBP/USD.
The Pound Sterling to South African Rand exchange rate is trading up +0.23% at 18.07091 GBP/ZAR.

The Commodity Currencies have performed well on the back of this, with the Pound Sterling New Zealand Dollar GBP/NZD exchange rate dropping from close to the three to one threshold in the latter part of 2008 during the height of the global financial crisis, all the way down into the 1.7707 in April 2013.

Pound to Aus Dollar Rate Today

The GBP/AUD has followed a similar trajectory, slipping from the 2.6000s in the Autumn of 2008 down into the 1.4400s just before Easter last year.

The intervening period has brought a pronounced improvement for the GBP NZD and GBP AUD exchange rates as global commodity prices slipped and economic statistics coming out of China pointed to a pronounced cooling in activity levels in the nation’s domestic economy.

Pound to Rand and Canadian Dollar Forecast

Yesterday’s missive from the World Bank added to the impression that the forward move for these two pairs, along with the near-term amelioration from the Pound to Rand GBP ZAR and the Canadian Dollar (GBP CAD) exchange rates, may have some distance left to run.

The World Bank had previously predicted that GDP Growth in China would come in at 7.5% next year and at the same level in 2016. Yesterday brought a pronounced bout of back-tracking from the venerable New York based organisation; the World Bank now forecasts that China’s economy will expand at 7.2% in 2015 and by an even lower 7.1% during 2016. Worryingly, the report also suggested that China’s policymakers are completely accepting of this relatively lower level of economic expansion as part of a re-balancing of their domestic economy.

Analysts at Bank of America Merrill Lynch Global Research certainly see a difficult trading period ahead for the Pound to Aus Dollar exchange rate (GBP AUD) and have forewarned investors that they may be set to downwardly amend their medium term forecast for the Aussie Dollar.

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TAGS: Australian Dollar Forecasts Canadian Dollar Forecasts Currency Predi Forecasts