Exchange Rate Forecasts for the British Pound, Euro, Australian Dollar and the NZ Dollar

April 21, 2015 - Written by John Cameron

STORY LINK Exchange Rate Forecasts for the British Pound, Euro, Australian Dollar and the NZ Dollar

Currency News UK Presents The Latest Pound Sterling Forecasts vs Euro, Aussie and NZ Dollars

The POUND STERLING (currency:GBP) continues to be hampered by investors’ concerns regarding the likely outcome of next month’s UK General Election. There now appears a high likelihood that Britain will be governed by a minority Labour Government propped up by 40-50 separatist Scottish National Party MPs. Look out for tomorrow’s Bank of England minutes as the next risk event of note for the Pound. A 9-0 vote against a domestic interest rate hike would be likely to supress support for the UK unit. The forecast for the Pound is NEUTRAL TO NEGATIVE.

The Pound to Australian Dollar conversion rate is -0.42 pct lower at 1.92753 GBP/AUD.
The Pound to Canadian Dollar exchange rate is +0.3 pct higher with a conversion rate of 1 GBP equals 1.83743 CAD.
The Pound to Euro exchange rate converts +0.23 per cent higher at 1 GBP is 1.39362 EUR.
The Pound to New Zealand Dollar conversion rate is -0.08 pct lower at 1.94494 GBP/NZD.
The Pound to US Dollar exchange rate today is converting +0.75 per cent higher at 1.50408 GBP/USD.
The Pound to South African Rand conversion rate is +0.42 pct higher at 18.16699 GBP/ZAR.

Euro Exchange Rate Forecast

The EURO (currency:EUR) put in a decent showing in the global currency markets yesterday, suggesting that investors believe that Greece and the EU/ECB/IMF ‘Troika’ will reach a debt agreement by Friday’s deadline.

This morning’s German ZEW Sentiment Survey has the potential to alter the relative value of the shared currency in the short term.

However, with the ECB’s Quantitative Easing programme rumbling on in the background and with the ‘Greek problem’ refusing to go away, the forecast for the euro remains NEGATIVE.

Australian Dollar Exchange Rate Forecast

The latest Australian Consumer Price Index data, due for publication during the early hours of tomorrow morning, is likely to prove formative for the near-term prospects of the AUSTRALIAN DOLLAR (currency:AUD). Sunday night’s news that the People’s Bank of China was reducing the capital requirement it has in place for the nation’s retail banks will favour the export-driven Aussie moving forward, but a higher than anticipated showing from the Q1 domestic price rise figures will be required to provide the Australian unit with real forward momentum.

The short-term forecast for the Aussie is NEUTRAL TO POSITIVE.

New Zealand Dollar Exchange Rate Forecast

The NEW ZEALAND DOLLAR (currency:NZD) has performed with credit against the other sixteen most-actively traded global currencies during the past month. However, analysts forecast that Sunday night’s New Zealand inflation numbers could mark a turning point for the NZD.

The revelation that the pace of NZ price rises fell to close to zero per cent removes any possibility of a Reserve Bank of New Zealand interest rate increase any time soon. Analysts now forecast that the Kiwi will perform on a NEUTRAL TO NEGATIVE footing moving forward. The GBP NZD exchange rate stands at 1.9471.

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TAGS: Australian Dollar Forecasts Currency Predictions Dollar Po Forecasts