G20 Exchange Rate Forecast - Pound to Aus Dollar & Canadian Dollar Prediction to Gain

November 17, 2014 - Written by John Cameron

STORY LINK G20 Exchange Rate Forecast - Pound to Aus Dollar & Canadian Dollar Prediction to Gain

Currency News presents our latest pound sterling to australian dollar and canadian dollar exchange rate forecasts and forex predictions relating to the G20 in Australia.

Events in Brisbane during the weekend currency market shutdown are likely to reverberate during coming sessions, with analysts forecasting an alteration of the relative value of several leading tenders.

The Pound to Australian Dollar exchange rate is -0.1 pct lower with a conversion rate of 1 GBP equals 1.78945 AUD.
The Pound to Canadian Dollar exchange rate converts +0.03 per cent higher at 1 GBP is 1.76921 CAD.
The Australian Dollar to Canadian Dollar exchange rate converts +0.13 per cent higher at 1 AUD is 0.98869 CAD.
The Australian Dollar to New Zealand Dollar exchange rate is -0.2 pct lower with a conversion rate of 1 AUD equals 1.10393 NZD.

Russia Comments Could Hurt Australian Dollar, Canadian Dollar and the New Zealand Dollar

The G20 meeting in Australia saw the leaders of some of the world’s pre-eminent economic powers place considerable pressure on Russia’s leader Vladimir Putin to desist from his recent aggression towards Ukraine. US President Barack Obama did not hold back in his assessment of the potential effect of Russia’s actions on global peace, stating that Moscow’s aggression represented a ‘threat to the world’. These words are likely to appear in headlines across the globe for days to come. Following the sharp improvement in global risk appetite since 16th October, when the world’s share markets, almost in unison, slumped to fresh near-term lows, it wouldn’t take much to trigger a flight to safety amongst investors.

Movement Forecast For GBP AUD & GBP NZD Exchange Rates

Such a shift out of risk-laden assets would be likely to see the Pound Sterling Australian Dollar settle back above the 1.8000 GBP AUD threshold, with the possibility of a fresh push back towards the middle part of the 1.8000 to 1.9000 band. Meanwhile, the development could also send Sterling higher against the other Commodity Dollars, with a renewed push Northwards now likely for the GBP NZD and GBP CAD exchange rates. The UK’s weekend threat to deepen the sanctions it has already enforced on Russia have the potential to hasten any such moves.

Dual US Data Releases Forecast To Shape Market Movement

Looking ahead, two releases from the States dominate the economic data schedule this week; Wednesday night’s minutes of the most recent Federal Reserve policy meeting are likely to have an effect on nearly every major global currency. After another positive set of US jobs data during the first week of the month, which revealed that the world’s premier economy had added over 200,000 new jobs to its payroll for the ninth month on the trot, analysts will be poring over the memos of the latest get-together of US policymakers for any hint that a domestic interest rate hike is imminent. Meanwhile, the next day’s American inflation numbers will be viewed through the same prism by investors looking for hints on the future direction of Fed policy.

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