Conversion Rate Oulook: British Pound Foreign Currency Exchange Rate Forecast Against Euro USD NZD

July 22, 2015 - Written by David Woodsmith

STORY LINK Conversion Rate Oulook: British Pound Foreign Currency Exchange Rate Forecast Against Euro USD NZD

UK Retail Sales Could Push Pound Sterling (GBP) Exchange Rate Higher

The Pound could extend Wednesday's gains against rivals like the Euro and US Dollar today if the UK's retail sales report reveals a sturdy increase in consumer price gains. A 0.4% month-on-month sales increase has been predicted by economists. Should the data disappoint, Sterling could dip against its rivals.

Earlier...

Pound Sterling (GBP) Exchange Rate Worst Performing Currency

The POUND STERLING (currency:GBP) was the worst performing of the sixteen most actively traded global currencies during yesterday’s session. UK Chancellor of the Exchequer George Osborne’s suggestion that he may seek to trim some government department’s budgets by as much as 40% left some investors fearing that his cuts risk jeopardising the domestic economic recovery.

The outlook for the Pound is now NEUTRAL TO NEGATIVE.

FX Forecast: GBP/EUR Declines as Euro Gains on Greek News

The EURO (currency:EUR) enjoyed a rare day of gains against the Pound yesterday following the news that Greece had repaid in full the €2.05bn arrears which it had run up with the International Monetary Fund. However, with Greece still needing to hammer out the terms of a third bailout with the eurogroup and with the European Central Bank’s Quantitative Easing programme rumbling on in the background, the forecast for the shared currency remains firmly NEGATIVE.

The current GBP EUR exchange rate stands at 1.4221.

US Dollar Fluctuates: GBP/USD Lower, EUR/USD Conversion Rate Higher

The US DOLLAR (currency:USD) recorded slight gains against the Pound Sterling but leaked support against the euro during yesterday’s session. Look for this afternoon’s US Mortgage Approval and Home Sales data to determine near-term price action for the Greenback. Any stronger than anticipated economic statistics from the States are likely to have an exaggerated strengthening effect on the Buck, given that the Federal Reserve continues to hint at a US interest rate hike for later this year.

The forecast for the Dollar is NEUTRAL TO POSITIVE and the GBP USD exchange rate stands at 1.5553.

Currency Market Predictions: RBNZ Policy Meeting Forecast to Impact NZD to GBP, EUR, USD Trading

Tonight’s Reserve Bank of New Zealand (RBNZ) monetary policy announcement has the potential to drastically effect the relative value of the NEW ZEALAND DOLLAR (currency:NZD) into the medium term. Analysts are anticipating a 25 basis point cut to the RBNZ’s key lending rate – if this comes to pass, then expect the Kiwi to ship further support. Don’t rule out a 50 point cut – the outlook for the Kiwi is NEGATIVE and the GBP NZD exchange rate stands at 2.3438.

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