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British Pound, Euro, CAD and US Dollar: Exchange Rate Forecasts and Predictions for Week Ahead

March 30, 2015 - Written by John Cameron

Currency News UK Presents Our Exchange Rate Forecasts for the Pound Sterling, US Dollar, Euro and the Cad Dollar



Commentators forecast that this week’s session will prove to be a significant one for global data releases.

Our leading analysts takes a look below at the main economic statistics penned in for publication and predicts the effect which they will have for the Pound Sterling (currency:GBP) against the other major global tenders.

Euro (EUR) Exchange Rate Forecast



The centrepiece data set, as far as euro (currency:EUR)-watchers are concerned, comes tomorrow morning with March’s advance reading of the eurozone’s Consumer Price Index data.

Commentators will be closely-monitoring the publication for any suggestion that the European Central Bank’s Quantitative Easing scheme, which got underway during the second week of last month, is beginning to have its desired effect in steering the euroland away from its current and potentially damaging bout of deflation.

However, if estimates are to be believed, then these same commentators are set for a major disappointment.

February’s counterpart print showed at 0.3% and the consensus estimate from economists is that next week’s result will come in at an even lower -0.4%.

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For this reason, the forecast for the euro remains NEGATIVE.

Dollar (USD) Exchange Rate Outlook



Meanwhile, this week also looks likely to prove market-moving for the US DOLLAR (currency:USD).

Friday afternoon’s American labour market numbers are likely to be fundamental to the Buck’s near-term performance, following the assertion by the Federal Reserve two weeks ago that evidence of a ‘significant improvement’ in the US jobs market will be required before it will consider an increase to its headline interest rate.

The past twelve months on the trot have seen the keynote figure reveal that over 200,000 new positions had been generated in the world’s premier economy.

Anything less than this would therefore hit the Greenback hard, potentially sending the GBP USD exchange rate back above the psychologically significant 1.5000 threshold once more.

The US Dollar exchange rate is forecast to be NEUTRAL TO NEGATIVE.

Canadian Dollar: Forecasts Eye GDP



Elsewhere, tomorrow’s Canadian Gross Domestic Product data for the year to the end of January will provoke price-action for the Canadian Dollar (currency:CAD).

Look out for a showing above December’s annualised 2.8% to provide further fuel for the Loonie’s near-term renaissance.

Anything above 3.0% would surely send the Pound Sterling to Canadian Dollar exchange rate back down into the lower part of the 1.8000s once more.

For this reason, market-watchers predict that the Canadian unit will trade on a NEUTRAL TO POSITIVE footing in the short term.
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