Weekly Exchange Rate Forecasts for the Euro, Pound, Dollar, NZ Dollar, Swiss Franc and the Canadian Dollar

March 16, 2015 - Written by John Cameron

STORY LINK Weekly Exchange Rate Forecasts for the Euro, Pound, Dollar, NZ Dollar, Swiss Franc and the Canadian Dollar

Currency News UK Presents Today's Currency Exchange Forecasts for the Pound Sterling, Euro, US Dollar, Swiss Franc, New Zealand and Canadian Dollars

Five set piece releases are likely to dominate proceedings in this week’s session in the global currency markets.

Our leading analyst takes a look at the effect which they are likely to have on each nation’s currency and forecasts the price action which will follow.

Here are the latest exchange rates as of 15th march 2015 for your reference:

The Pound to Australian Dollar exchange rate is +0.18 pct higher with a conversion rate of 1 GBP equals 1.93406 AUD.
The Pound to Canadian Dollar rate converts +0.06 per cent higher at 1 GBP is 1.88637 CAD.
The Pound to Swiss Franc conversion rate is +0.12 pct higher at 1.48486 GBP/CHF.
The Pound to Euro exchange rate is +0.02 pct higher at 1.40519 GBP/EUR.
The Pound to New Zealand Dollar rate today is converting +0.11 per cent higher at 2.01070 GBP/NZD.
The Pound to US Dollar exchange rate is -0.01 per cent lower at 1.47434 GBP/USD.
The Pound to Rand converts at 1 GBP is 18.40063 ZAR.

Euro Exchange Rate Forecast

The EURO (currency:EUR) leads the way on Tuesday, with the publication of this month’s edition of the closely-monitored German ZEW Sentiment Survey and expectations are relatively high.

Last month’s counterpart figure printed at 53.0 and investors expect something at least as good this month.

The euro forecast remains NEGATIVE.

US Dollar Forecast

The next tier one data release in the markets is the week’s main event – the US FOMC monetary policy announcement.

No change in interest rates is expected from the Fed just yet, but that is not expected to hold back the US DOLLAR (currency:USD), because analysts predict that the US central bank’s accompanying statement will suggest that a hike is not far off.

Analysts predict that the USD forecast wis to trade on a NEUTRAL TO POSITIVE footing moving forward.

New Zealand Dollar Rate Forecast

Q4 Gross Domestic Product data from New Zealand follows hot on the heels of the Fed’s announcement.

The NEW ZEALAND DOLLAR (currency:NZD) has forged ahead against the other major global currencies since the Reserve Bank of New Zealand’s announcement last week’s that it will be maintaining its key interest rate at its current level.

If this week’s domestic GDP numbers please, then the NZ Dollar is anticipated to trade with a NEUTRAL TO POSITIVE footing.

Swiss Franc Outlook for the Week

The Swiss National Bank (SNB) sets its headline interest rate for the next month on Thursday morning, with holders of the SWISS FRANC (currency:CHF) paying close attention.

The SNB is expected to maintain its Sight Deposit interest rate at -0.75% where it has been since it scrapped the EUR / CHF minimum floor in January.

expectations are correct and Swiss interest rates stay well below zero, then the pressure will remain on the Franc.

The exchange rate outlook for the Swiss tender is NEUTRAL TO NEGATIVE.

Canadian Dollar Exchange Rate Forecast

The final potential game-changing release this week comes on Friday afternoon in the form of February’s Canadian Consumer Price Index figures.

In relative terms, the pace of Canadian price rises has remained above average, favouring the CANADIAN DOLLAR (currency:CAD).

If this month’s inflation numbers show at or above 1.0%, then the CAD could continue to trade with a NEUTRAL TO POSITIVE bias.

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TAGS: American Dollar Forecasts Canadian Dollar Forecasts Currency Predict Forecasts