Forex Forecast for British Pound Sterling Euro Exchange Rate and Update for USD CAD Currency Pairs

July 13, 2015 - Written by Tim Boyer

STORY LINK Forex Forecast for British Pound Sterling Euro Exchange Rate and Update for USD CAD Currency Pairs

Pound Sterling (GBP) Holding Exchange Rate Gains before CPI Data

Ahead of the release of the UK's consumer price index, the Pound Sterling (GBP) exchange rate was largely holding gains against peers like the the Euro (EUR) and US Dollar (USD). Although Sterling could soften if CPI prints at 0.0%, as expected, the prospect of encouraging wage data later in the week is likely to limit Pound losses.

Earlier...

UK Inflation Data Forecast to Impact Pound Sterling to Euro (GBP/EUR) Exchange Rate Trading Tomorrow

The POUND STERLING (currency:GBP) has traded steadily during recent sessions, but this could all change tomorrow morning when the latest UK inflation numbers are published. The Pound badly needs the official figures to reveal that the pace of domestic price rises has once again increased. Such a result would ramp up market whispers suggesting that the Bank of England may hike its key interest rate sooner rather than later. The UK unit is expected to trade with a NEUTRAL bias in the near term.

Greek Deal Predicted to Drive Euro to US Dollar (EUR/USD) and Pound (EUR/GBP) Exchange Rates

Germany’s increasing distrust of Greece’s left-wing leadership poses a real threat to the EURO (currency:EUR) as this week’s session gets underway. The insistence by the Teutonic powerhouse that Athens passes new laws before Wednesday in order to benefit from another bailout package leaves Greece teetering on the edge of a messy exit from the eurozone. The outlook for the shared currency remains firmly NEGATIVE.

The Pound Sterling euro exchange rate stands at 1.3940.

US Dollar Exchange Rate Oulook and Future Currency Forecast: Greenback Could Gain on Fed Rate Hike Bets

The US DOLLAR (currency:USD) is anticipated to reap the rewards of weekend comments from Federal Reserve Chair Janet Yellen during early trading this week. The Fed Chief once again heavily hinted that US interest rates are likely to be on the march higher before the end of the year. Further positive American jobs numbers will be needed in order for the increase to occur, but in the meantime, look for the Buck to trade on a NEUTRAL TO POSITIVE footing.

The GBP USD exchange rate stands at 1.5510.

BOC Interest Rate Decision May Impact Canadian Dollar, CAD/GBP, CAD/USD Exchange Rate Outlook

This week could be a game-changer for the CANADIAN DOLLAR (currency:CAD). The Bank of Canada makes its latest monetary policy announcement on Wednesday afternoon and with global oil prices remaining low, there is a fair rump of analysts anticipating an interest rate cut. Such an outcome would send the Pound Loonie exchange rate spiralling, however the most likely result on Wednesday remains a ‘no change’ decision. For this reason, the Canadian tender is expected to put in a NEUTRAL performance this week. The GBP CAD exchange rate currently sits at 1.9648.

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TAGS: Currency Predictions Daily Currency Updates Poun Forecasts