Exchange Rate Forecasts: British Pound, Euro, Canadian Dollar and Swiss Franc

March 4, 2015 - Written by John Cameron

STORY LINK Exchange Rate Forecasts: British Pound, Euro, Canadian Dollar and Swiss Franc

Today's Pound Sterling Forecasts vs the Euro, the Canadian Dollar and the Swiss Franc Conversion Rates

Yesterday morning’s economic data which revealed that the pace of growth in Britain’s construction sector had accelerated helped the POUND STERLING (currency:GBP) to enjoy a relatively positive session.

Monday’s Mortgage Approvals figures disappointed, but analysts still forecast that the Pound will perform on a NEUTRAL TO POSITIVE footing in the short to medium term.

Euro Forecast

The EURO (currency:EUR) has enjoyed a limited amount of buying pressure during the first half of this week’s trading session. A strong set of German Retail Sales figures for January, released early yesterday, helped the Single Currency’s cause, but this morning’s whole of eurozone Retail Sales numbers represent a real test. Analysts are expecting an annualised showing of 2.3% - anything less than this and the euroland unit will give up further ground against the other major tenders. The forecast for the single currency remains NEGATIVE and the GBP EUR exchange rate currently sits at 1.3722.

Canadian Dollar Exchange Rate Forecast

The CANADIAN DOLLAR (currency:CAD) continued its near-term climb against Sterling during yesterday’s session. The forward move for the Loonie was fuelled by December GDP growth numbers which showed at a higher than anticipated year-on-year level of 2.8%. However, the slight downward move in the price of a barrel of oil since the weekend is likely to temper any improvement for the CAD. The outlook for the Canadian tender is now NEUTRAL and the GBP CAD exchange rate sits at 1.9166.

Swiss Franc Exchange Rate Forecast

The SWISS FRANC (currency:CHF) firmed slightly during early trading yesterday following the publication of stronger than anticipated domestic GDP figures for the three months to the end of December. Analysts had forecast an annualised drop in the key figure to 1.7%, but the print of 1.9% meant that growth levels in the Swiss economy had held steady during Q4 in comparison with the previous three months. Commentators forecast that the Franc will perform on a NEUTRAL TO NEGATIVE bias moving forward and the GBP CHF exchange rate stands at 1.4761.

Top Pound Sterling Exchange Rates Today (04/03/2015 20:00 GMT)

The Pound to Australian Dollar conversion rate is -0.74 pct lower at 1.95080 GBP/AUD.
The Pound to Canadian Dollar exchange rate is -1.26 pct lower with a conversion rate of 1 GBP equals 1.89414 CAD.
The Pound to Swiss Franc exchange rate is -0.44 pct lower with a conversion rate of 1 GBP equals 1.47005 CHF.
The Pound to Chinese Yuan exchange rate today is converting -0.74 per cent lower at 9.56950 GBP/CNY.
The Pound to Euro conversion rate is +0.28 pct higher at 1.37803 GBP/EUR.
The Pound to Hong Kong Dollar conversion rate is -0.68 pct lower at 11.83551 GBP/HKD.
The Pound to Japanese Yen conversion rate is -0.62 pct lower at 182.68976 GBP/JPY.
The Pound to Mexican Peso exchange rate is -0.29 pct lower with a conversion rate of 1 GBP equals 22.95883 MXN.
The Pound to New Zealand Dollar conversion rate is -1.15 pct lower at 2.00924 GBP/NZD.
The Pound to Turkish Lira exchange rate converts +0.34 per cent higher at 1 GBP is 3.90914 TRY.
The Pound to US Dollar exchange rate converts -0.68 per cent lower at 1 GBP is 1.52609 USD.
The Pound to South African Rand exchange rate is -0.32 pct lower with a conversion rate of 1 GBP equals 17.99031 ZAR.

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