Exchange Rate Forecasts for the British Pound, Euro, US Dollar & Australian Dollar

November 26, 2014 - Written by John Cameron

STORY LINK Exchange Rate Forecasts for the British Pound, Euro, US Dollar & Australian Dollar

Our latest forecasts for the Pound Sterling, US Dollar, euro and Aus Dollar exchange rates

The POUND STERLING (currency:GBP) has put in a strong performance during today’s session, recording gains against nearly all of the other sixteen most actively traded global currencies.

Figures from the Office of National Statistics pointing to an unexpected slump in the level of British business investment during the third quarter haven’t hampered the Pound, with investors instead concentrating on the higher levels of inflation in UK than in neighbouring economies.

Look out for Friday morning’s Nationwide House Price survey for the next steer on the Pound – in the meantime, the UK unit is likely to trade with a NEUTRAL TO POSITIVE bias.

The Pound to Australian Dollar exchange rate is +0.56 pct higher with a conversion rate of 1 GBP equals 1.84743 AUD.
The Pound to Canadian Dollar exchange rate converts +0.43 per cent higher at 1 GBP is 1.77619 CAD.
The Pound to Euro exchange rate is +0.25 pct higher with a conversion rate of 1 GBP equals 1.26280 EUR.
The Pound to Hong Kong Dollar exchange rate today is converting +0.45 per cent higher at 12.24552 GBP/HKD.
The Pound to US Dollar rate is +0.46 pct higher at 1.57924 GBP/USD.

Euro Forecast: Investors Unimpressed by European Commission Plan

The EURO (currency:EUR) had another wobble today, losing ground against both the Pound and the Dollar.

The announcement of a €315bn scheme aimed at increasing investment into the euroland’s flagging economy has failed to impress analysts who suggest that the programme involves no new money being put forward.

Expect market whispers regarding the potential for an all-out Quantitative Easing programme from the European Central Bank to increase ahead of next week’s policy announcement.

The single currency is forecast to trade on a NEGATIVE footing in the near-term and the GBP EUR exchange rate stands at 1.2620.

Dollar Exchange Rate Forecast: US Housing Data Disappoints

Not for the first time during recent sessions, the US DOLLAR (currency:USD) has behaved in a counter-intuitive fashion today.

The headline Durable Goods Orders data for October, published in the States this afternoon, thrashed expectations, showing a healthy month-on-month increase of 0.4%.

However, a mildly disappointing set of domestic housing market data, released at the same time, have weighed down the Buck.

The Greenback is forecast to trade on a NEUTRAL TO POSITIVE footing moving forward and the GBP USD exchange rate stands at 1.5785.

Aus Dollar Exchange Rate Forecast: Aussie Loses Ground on RBA Comments

Support for the AUSTRALIAN DOLLAR (currency:AUD) has slumped today following comments from Reserve Bank of Australia (RBA) Deputy Governor Philip Lowe which once again suggested that the Aussie is overvalued. Investors moved out of Australian Dollar-denominated assets as a response, sending the GBP AUD exchange rate briefly back above the 1.8500 threshold. However, with global risk appetite remaining buoyant thanks to expectations regarding a further loosening of monetary policy from the European Central Bank, the final part of the week could see a renaissance for the Aussie. The outlook for the Australian unit is NEUTRAL and the GBP AUD exchange rate stands at 1.8480.

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