Currency News

Daily Exchange Rate Forecasts & Currency News

Exchange Rate Forecasts For Pound Sterling (GBP), Euro (EUR), US Dollar (USD) & Australian Dollar (AUD)

October 26, 2014 - Written by John Cameron

Currency News presents our current FX predictions and forecasts for the GBP, EUR, USD and AUD exchange rates



pound, euro, us and aus dollar forecastsThe POUND STERLING (currency:GBP) enjoyed a relief rally Friday morning following the publication of domestic Q3 Gross Domestic Product data.

A quick look at today's forex rates:

The Pound to Australian Dollar exchange rate is -0.07 pct lower with a conversion rate of 1 GBP equals 1.82624 AUD.
The Pound to Canadian Dollar exchange rate converts -0.02 per cent lower at 1 GBP is 1.80796 CAD.
The Pound to Euro exchange rate converts at 1 GBP is 1.26929 EUR.
The Pound to New Zealand Dollar exchange rate converts -0.29 per cent lower at 1 GBP is 2.04338 NZD.
The Pound to US Dollar conversion rate is +0.04 pct higher at 1.60974 GBP/USD.

As expected, the key data release showed a year-on-year level of growth of 3.0%, however most analysts still viewed this as a positive - a lower reading had been anticipated by some following this week’s distinctly below-par UK Retail Sales figures.

Friday’s demand for an additional payment of GBP1.7bn from the European Union is likely to add to investors’ concerns that Britain may be about to break away from the European Union, so the outlook for the Pound is now NEUTRAL.

Advertisement

Euro Forecast: EUR Firms On German Survey



The ">EURO (currency:EUR) has performed on an even keel against the other sixteen most-actively traded global currencies so far today.

A marginally better than expected German GfK Consumer Confidence Survey helped the single currency’s fortunes during early trading, however the suspicion remains that this is simply a pause before the euro weakens further.

Next week brings the publications of this month’s German CPI inflation and unemployment data and the euroland tender badly needs a higher than anticipated showing from both in order to revive its fortunes.

The single currency is still forecast to trade with a NEGATIVE bias moving forward.

US Dollar Rate Forecast: USD Continues To Benefit From Inflation Figures



The US DOLLAR (currency:USD) continues to benefit from market participants’ belief that the Federal Reserve will be the first major global central bank to hike its interest rate, perhaps as early as the first quarter of next year.

The rumours have been fuelled by Wednesday’s higher than anticipated American inflation figures.

Next Wednesday’s Fed announcement on monetary policy will shape price action for the Greenback into the medium term, while the next day’s domestic GDP data for Q3 could also alter levels on the Buck.

The outlook for the Dollar remains NEUTRAL TO POSITIVE.

New Zealand Export Data Helps Aus Dollar Forecast



The AUSTRALIAN DOLLAR (currency:AUD) has outperformed all of the other sixteen most actively traded global currencies so far today.

Aussie-holders appear to have been encouraged by last night’s higher than anticipated New Zealand export figures.

The two antipodean nations share may common export markets, so the figure proved to be as positive for the Australian Dollar as it was for the Kiwi.

Look out for next Thursday’s Australian HIA New Home Sales data to provide the Aussie with renewed direction.

Other than that, the Aussie is expected to trade in line with global risk trends – analysts therefore predict a NEUTRAL TO POSITIVE performance from the Australian unit in the near-term as share markets recover.

Like this piece? Please share with your friends and colleagues:

International Money Transfer? Ask our resident FX expert a money transfer question or try John's new, free, no-obligation personal service! ,where he helps every step of the way, ensuring you get the best exchange rates on your currency requirements.


TAGS: American Dollar Forecasts Australian Dollar Forecasts Currency Predi Forecasts

Comments are currrently disabled